Ceragon Networks (NASDAQ:CRNT) Given "Sell (D)" Rating at Weiss Ratings

Key Points

• Ceragon Networks has had its "sell (d)" rating reaffirmed by Weiss Ratings, indicating potential concerns about its stock performance.
• Roth Capital downgraded its price target on Ceragon shares from $5.00 to $4.00, while other analysts report a consensus rating of "Moderate Buy" with an average target price of $5.30.
• The company's stock increased by 2.4% recently, closing at $2.54, with a 12-month range of $1.82 to $5.73 and a market cap of $225.88 million.

Ceragon Networks (NASDAQ:CRNT - Get Free Report)'s stock had its "sell (d)" rating reaffirmed by research analysts at Weiss Ratings in a research note issued to investors on Friday,Weiss Ratings reports.

A number of other brokerages have also weighed in on CRNT. Roth Capital lowered their price objective on shares of Ceragon Networks from $5.00 to $4.00 and set a "buy" rating for the company in a report on Friday, July 18th. Needham & Company LLC reissued a "buy" rating and issued a $3.00 target price on shares of Ceragon Networks in a research note on Thursday, September 18th. Finally, Zacks Research upgraded Ceragon Networks from a "strong sell" rating to a "hold" rating in a research report on Monday, October 6th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $5.30.

Ceragon Networks Trading Up 2.4%

Shares of NASDAQ:CRNT traded up $0.06 during trading on Friday, reaching $2.54. The company had a trading volume of 561,309 shares, compared to its average volume of 554,332. Ceragon Networks has a 12 month low of $1.82 and a 12 month high of $5.73. The stock has a market capitalization of $225.88 million, a P/E ratio of 15.88 and a beta of 1.15. The company has a fifty day moving average of $2.23 and a two-hundred day moving average of $2.26.

Institutional Trading of Ceragon Networks

A number of hedge funds and other institutional investors have recently modified their holdings of CRNT. Axis Wealth Partners LLC bought a new stake in Ceragon Networks in the second quarter worth $26,000. BNP Paribas Financial Markets purchased a new position in Ceragon Networks during the second quarter valued at $26,000. Bank of Montreal Can purchased a new stake in Ceragon Networks in the 2nd quarter worth approximately $35,000. Worth Venture Partners LLC bought a new position in Ceragon Networks in the 1st quarter worth $47,000. Finally, State of Wyoming bought a new position in shares of Ceragon Networks in the first quarter worth about $58,000. 13.31% of the stock is 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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