Ceragon Networks Ltd. (NASDAQ:CRNT) Receives Average Rating of "Buy" from Brokerages

Shares of Ceragon Networks Ltd. (NASDAQ:CRNT - Get Free Report) have been given a consensus recommendation of "Buy" by the five analysts that are covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have covered the stock in the last year is $5.30.

Several research analysts have issued reports on CRNT shares. Needham & Company LLC reissued a "buy" rating and issued a $3.00 target price on shares of Ceragon Networks in a research report on Thursday, September 18th. Roth Capital dropped their price objective on shares of Ceragon Networks from $5.00 to $4.00 and set a "buy" rating on the stock in a report on Friday, July 18th.

Ceragon Networks Price Performance

Shares of CRNT opened at $2.37 on Monday. Ceragon Networks has a one year low of $1.82 and a one year high of $5.73. The firm has a market capitalization of $210.76 million, a P/E ratio of 14.81 and a beta of 1.08. The business has a fifty day moving average of $2.12 and a 200 day moving average of $2.26.

Institutional Investors Weigh In On Ceragon Networks

Several hedge funds and other institutional investors have recently modified their holdings of CRNT. Squarepoint Ops LLC lifted its position in Ceragon Networks by 642.7% during the second quarter. Squarepoint Ops LLC now owns 552,939 shares of the communications equipment provider's stock valued at $1,360,000 after purchasing an additional 478,489 shares in the last quarter. Evergreen Capital Management LLC bought a new position in shares of Ceragon Networks in the second quarter worth about $187,000. BNP Paribas Financial Markets purchased a new position in shares of Ceragon Networks during the 2nd quarter valued at about $26,000. Boothbay Fund Management LLC grew its stake in shares of Ceragon Networks by 85.6% during the 2nd quarter. Boothbay Fund Management LLC now owns 134,364 shares of the communications equipment provider's stock valued at $331,000 after acquiring an additional 61,976 shares during the period. Finally, Bank of America Corp DE grew its stake in shares of Ceragon Networks by 31.7% during the 2nd quarter. Bank of America Corp DE now owns 372,961 shares of the communications equipment provider's stock valued at $917,000 after acquiring an additional 89,821 shares during the period. 13.31% of the stock is currently owned by hedge funds and other institutional investors.

Ceragon Networks Company Profile

Ceragon Networks Ltd., together with its subsidiaries, provides wireless transport solutions for cellular operators and other wireless service providers in North America, Europe, Africa, the Asia Pacific, the Middle East, India, and Latin America. The company's solutions use microwave and millimeter wave radio technology to transfer telecommunication traffic between base stations, small/distributed cells, and the service provider's network.

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