Ceragon Networks (NASDAQ:CRNT) Rating Increased to Hold at Zacks Research

Key Points

• Ceragon Networks (NASDAQ:CRNT) was upgraded from a "strong sell" to a "hold" rating by Zacks Research, reflecting a shift in analyst sentiment towards the stock.
• The stock has a consensus rating of "Moderate Buy" among analysts, with a price target of $5.30, as several firms issued varied ratings and price targets recently.
• Ceragon Networks has seen significant interest from institutional investors, with some firms increasing their stakes by over 600% in recent quarters.

Ceragon Networks (NASDAQ:CRNT - Get Free Report) was upgraded by investment analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report issued on Monday,Zacks.com reports.

CRNT has been the subject of a number of other research reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $3.00 price target on shares of Ceragon Networks in a research note on Thursday, September 18th. Weiss Ratings reissued a "sell (d)" rating on shares of Ceragon Networks in a research report on Saturday, September 27th. Finally, Roth Capital lowered their price objective on Ceragon Networks from $5.00 to $4.00 and set a "buy" rating for the company in a research report on Friday, July 18th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Ceragon Networks presently has a consensus rating of "Moderate Buy" and a consensus target price of $5.30.

Ceragon Networks Stock Down 2.8%

Shares of CRNT stock opened at $2.42 on Monday. The stock has a fifty day moving average of $2.13 and a 200 day moving average of $2.26. Ceragon Networks has a 52 week low of $1.82 and a 52 week high of $5.73. The firm has a market capitalization of $215.21 million, a price-to-earnings ratio of 15.13 and a beta of 1.15.

Institutional Investors Weigh In On Ceragon Networks

Large investors have recently bought and sold shares of the business. First Wilshire Securities Management Inc. grew its stake in shares of Ceragon Networks by 23.6% during the 2nd quarter. First Wilshire Securities Management Inc. now owns 4,058,774 shares of the communications equipment provider's stock valued at $9,985,000 after purchasing an additional 775,782 shares during the period. KLCM Advisors Inc. purchased a new position in Ceragon Networks in the 1st quarter worth approximately $1,871,000. First Eagle Investment Management LLC lifted its holdings in Ceragon Networks by 30.9% in the 2nd quarter. First Eagle Investment Management LLC now owns 590,860 shares of the communications equipment provider's stock worth $1,454,000 after purchasing an additional 139,528 shares in the last quarter. Qube Research & Technologies Ltd lifted its holdings in Ceragon Networks by 100.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 580,093 shares of the communications equipment provider's stock worth $1,427,000 after purchasing an additional 290,695 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its holdings in Ceragon Networks by 642.7% in the 2nd quarter. Squarepoint Ops LLC now owns 552,939 shares of the communications equipment provider's stock worth $1,360,000 after purchasing an additional 478,489 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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