Ceragon Networks Ltd. (NASDAQ:CRNT) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Analysts hold a “Moderate Buy” consensus on Ceragon Networks, with four buy ratings, one hold, and one sell among six analysts. The average 12-month price target is $3.75, compared with the stock’s reported price of $2.11.
• Ceragon reported quarterly EPS of $0.02 and revenue of $93.91 million, exceeding the $86.45 million analyst revenue estimate. Analysts expect full-year EPS of approximately $0.10.
• Several institutional investors increased their positions, while institutional ownership stands at 13.31% of outstanding shares. The stock has traded between $1.85 and $3.29 over the past year.

Ceragon Networks Ltd. (NASDAQ:CRNT - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the six analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $3.75.

A number of equities research analysts have commented on the company. Wall Street Zen cut Ceragon Networks from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 15th. Zacks Research raised Ceragon Networks from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 27th. Weiss Ratings cut Ceragon Networks from a "sell (d+)" rating to a "sell (d)" rating in a report on Wednesday, August 19th. Finally, Needham & Company LLC restated a "buy" rating and issued a $3.00 price target on shares of Ceragon Networks in a research note on Tuesday, August 11th.

Hedge Funds Weigh In On Ceragon Networks

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Aristides Capital LLC grew its stake in Ceragon Networks by 4.5% during the 4th quarter. Aristides Capital LLC now owns 141,130 shares of the communications equipment provider's stock worth $296,000 after buying an additional 6,130 shares during the last quarter. Tamar Securities LLC raised its stake in Ceragon Networks by 67.3% in the fourth quarter. Tamar Securities LLC now owns 17,016 shares of the communications equipment provider's stock valued at $36,000 after buying an additional 6,848 shares during the last quarter. Spark Investment Management LLC acquired a new stake in Ceragon Networks in the second quarter worth about $27,000. AXQ Capital LP boosted its holdings in Ceragon Networks by 66.3% in the second quarter. AXQ Capital LP now owns 48,663 shares of the communications equipment provider's stock worth $126,000 after acquiring an additional 19,404 shares in the last quarter. Finally, R Squared Ltd grew its stake in shares of Ceragon Networks by 71.3% during the first quarter. R Squared Ltd now owns 55,838 shares of the communications equipment provider's stock worth $121,000 after acquiring an additional 23,234 shares during the last quarter. Institutional investors own 13.31% of the company's stock.

Ceragon Networks Price Performance

CRNT opened at $2.11 on Tuesday. The firm has a market cap of $191.78 million, a P/E ratio of -70.33 and a beta of 1.36. Ceragon Networks has a 1-year low of $1.85 and a 1-year high of $3.29. The company has a 50 day simple moving average of $2.14 and a two-hundred day simple moving average of $2.38.

Ceragon Networks (NASDAQ:CRNT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The communications equipment provider reported $0.02 EPS for the quarter. Ceragon Networks had a negative net margin of 0.95% and a positive return on equity of 2.74%. The firm had revenue of $93.91 million for the quarter, compared to the consensus estimate of $86.45 million. Equities analysts anticipate that Ceragon Networks will post 0.1 earnings per share for the current year.

Ceragon Networks Company Profile

Ceragon Networks Ltd. is a telecommunications equipment and solutions provider headquartered in Israel. The company develops wireless transport systems that enable communications service providers and other organizations to connect mobile and fixed networks, particularly where fiber infrastructure is unavailable, costly, or difficult to deploy.

Its portfolio includes microwave and millimeter-wave radio systems, packet-based networking equipment, and related software and services. Ceragon's solutions support mobile backhaul, midhaul and fronthaul for 4G and 5G networks, as well as fixed wireless access, private networks, enterprise connectivity, public safety, utilities, and government communications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.