Ceragon Networks Ltd. (NASDAQ:CRNT) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Ceragon Networks Ltd. has garnered an average analyst rating of "Moderate Buy", with one sell, one hold, and five buy recommendations from the seven firms covering the stock.
• The average target price for Ceragon Networks is $5.30, while its current stock price is around $2.48.
• Recent institutional trading indicates increased interest in Ceragon, with several firms boosting their holdings or purchasing new stakes in the company.

Ceragon Networks Ltd. (NASDAQ:CRNT - Get Free Report) has received an average recommendation of "Moderate Buy" from the seven ratings firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $5.30.

Several research analysts have weighed in on the company. Roth Capital reduced their target price on Ceragon Networks from $5.00 to $4.00 and set a "buy" rating on the stock in a report on Friday, July 18th. Weiss Ratings restated a "sell (d)" rating on shares of Ceragon Networks in a report on Wednesday, October 8th. Needham & Company LLC restated a "buy" rating and issued a $3.00 price target on shares of Ceragon Networks in a report on Thursday, September 18th. Finally, Zacks Research upgraded Ceragon Networks from a "strong sell" rating to a "hold" rating in a report on Monday, October 6th.

Ceragon Networks Trading Up 2.5%

CRNT stock opened at $2.48 on Friday. The business's 50-day moving average price is $2.22 and its two-hundred day moving average price is $2.26. The firm has a market cap of $220.55 million, a PE ratio of 15.50 and a beta of 1.15. Ceragon Networks has a 1-year low of $1.82 and a 1-year high of $5.73.

Institutional Trading of Ceragon Networks

A number of institutional investors have recently modified their holdings of CRNT. Independent Advisor Alliance bought a new stake in shares of Ceragon Networks in the first quarter valued at about $216,000. Russell Investments Group Ltd. lifted its holdings in shares of Ceragon Networks by 25.7% in the first quarter. Russell Investments Group Ltd. now owns 141,589 shares of the communications equipment provider's stock valued at $333,000 after purchasing an additional 28,920 shares in the last quarter. KLCM Advisors Inc. bought a new stake in shares of Ceragon Networks in the first quarter valued at about $1,871,000. Quantbot Technologies LP bought a new stake in shares of Ceragon Networks in the first quarter valued at about $90,000. Finally, First Wilshire Securities Management Inc. lifted its holdings in shares of Ceragon Networks by 11.4% in the first quarter. First Wilshire Securities Management Inc. now owns 3,282,992 shares of the communications equipment provider's stock valued at $7,715,000 after purchasing an additional 336,646 shares in the last quarter. 13.31% of the stock is currently owned by 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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