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

Key Points

• Analyst sentiment is mixed: Ceragon Networks has a consensus “Hold” rating from six brokerages, with four buys and two sells. The average 12-month price target is $3.75.
• Recent analyst actions included buy ratings from Roth Capital, Needham and Craig Hallum, while Zacks Research downgraded the stock to “Strong Sell”; Wall Street Zen upgraded it to “Strong Buy.”
• CRNT opened at $2.17, with a 52-week range of $1.82 to $3.29 and a market capitalization of approximately $197 million. Institutional investors own 13.31% of the company, while its latest quarterly revenue was $85 million and EPS was $0.01.

Shares of Ceragon Networks Ltd. (NASDAQ:CRNT - Get Free Report) have earned a consensus rating of "Hold" from the six brokerages that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $3.75.

Several research analysts recently weighed in on CRNT shares. Roth Capital restated a "buy" rating and set a $4.50 target price on shares of Ceragon Networks in a research note on Tuesday, May 19th. Zacks Research downgraded Ceragon Networks from a "hold" rating to a "strong sell" rating in a report on Thursday, July 16th. Needham & Company LLC restated a "buy" rating and set a $3.00 price target on shares of Ceragon Networks in a research note on Wednesday, May 20th. Craig Hallum restated a "buy" rating and set a $4.00 price target on shares of Ceragon Networks in a research note on Wednesday, May 20th. Finally, Wall Street Zen upgraded shares of Ceragon Networks from a "hold" rating to a "strong-buy" rating in a report on Saturday, May 23rd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CRNT. BNP Paribas Financial Markets acquired a new stake in shares of Ceragon Networks during the second quarter worth $26,000. Walleye Capital LLC acquired a new position in shares of Ceragon Networks in the 4th quarter valued at $27,000. Tamar Securities LLC increased its position in shares of Ceragon Networks by 67.3% in the 4th quarter. Tamar Securities LLC now owns 17,016 shares of the communications equipment provider's stock valued at $36,000 after acquiring an additional 6,848 shares during the period. HRT Financial LP raised its stake in Ceragon Networks by 44.3% in the 4th quarter. HRT Financial LP now owns 19,660 shares of the communications equipment provider's stock worth $41,000 after acquiring an additional 6,039 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new position in Ceragon Networks in the 4th quarter worth $64,000. Hedge funds and other institutional investors own 13.31% of the company's stock.

Ceragon Networks Price Performance

Shares of CRNT opened at $2.17 on Monday. The company has a market cap of $197.24 million, a price-to-earnings ratio of -108.50 and a beta of 1.36. Ceragon Networks has a twelve month low of $1.82 and a twelve month high of $3.29. The company has a 50 day moving average of $2.55 and a two-hundred day moving average of $2.42.

Ceragon Networks (NASDAQ:CRNT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 15th. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter. Ceragon Networks had a positive return on equity of 2.27% and a negative net margin of 0.73%.The business had revenue of $85.00 million for the quarter. On average, sell-side analysts expect that Ceragon Networks will post 0.12 EPS for the current year.

About Ceragon Networks

Ceragon Networks Ltd. is a global provider of wireless backhaul solutions, specializing in high-capacity, low-latency connectivity for mobile operators and private networks. The company designs and manufactures a portfolio of microwave and millimeter-wave equipment that serves as a fiber alternative for carrying voice, data and video traffic between cell sites and core networks. Ceragon's solutions are engineered to support the rigorous performance requirements of modern 4G and 5G deployments, with an emphasis on scalability, reliability and efficient spectrum utilization.

The company's product lineup includes point-to-point and multi-point radio platforms, as well as software-driven network management tools that enable operators to plan, deploy and monitor end-to-end transport networks.

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