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

Key Points

• Analysts have a consensus “Hold” rating on Ceragon Networks, with two sell ratings and four buy ratings. The average 12-month price target is $3.75, above the stock’s reported $2.14 opening price.
• Recent analyst views were mixed: Craig Hallum, Needham and Roth Capital maintained buy ratings with price targets ranging from $3.00 to $4.50, while Zacks Research downgraded the stock to “strong sell.”
• Ceragon reported quarterly earnings of $0.02 per share and revenue of $93.91 million, exceeding the $86.45 million analyst estimate. Institutional investors own 13.31% of the company, with several hedge funds recently increasing their holdings.

Shares of Ceragon Networks Ltd. (NASDAQ:CRNT - Get Free Report) have earned an average recommendation of "Hold" from the six ratings firms that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $3.75.

A number of research firms recently commented on CRNT. Craig Hallum reissued a "buy" rating and issued a $4.00 price target on shares of Ceragon Networks in a research report on Wednesday, May 20th. Needham & Company LLC reiterated a "buy" rating and issued a $3.00 target price on shares of Ceragon Networks in a research note on Tuesday, August 11th. Roth Capital reiterated a "buy" rating and issued a $4.50 target price on shares of Ceragon Networks in a report on Tuesday, May 19th. Zacks Research downgraded shares of Ceragon Networks from a "hold" rating to a "strong sell" rating in a report on Thursday, July 16th. Finally, Wall Street Zen cut shares of Ceragon Networks from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 15th.

Hedge Funds Weigh In On Ceragon Networks

Several hedge funds have recently modified their holdings of CRNT. First Wilshire Securities Management Inc. boosted its stake in shares of Ceragon Networks by 18.0% in the 1st quarter. First Wilshire Securities Management Inc. now owns 4,854,150 shares of the communications equipment provider's stock worth $10,485,000 after buying an additional 740,358 shares during the last quarter. CSM Advisors LLC increased its position in shares of Ceragon Networks by 10.5% during the fourth quarter. CSM Advisors LLC now owns 2,284,048 shares of the communications equipment provider's stock valued at $4,795,000 after acquiring an additional 216,273 shares during the last quarter. Private Advisor Group LLC increased its position in shares of Ceragon Networks by 47.4% during the fourth quarter. Private Advisor Group LLC now owns 1,420,888 shares of the communications equipment provider's stock valued at $2,984,000 after acquiring an additional 456,710 shares during the last quarter. WealthTrust Axiom LLC lifted its holdings in Ceragon Networks by 13.2% during the fourth quarter. WealthTrust Axiom LLC now owns 900,299 shares of the communications equipment provider's stock worth $1,891,000 after acquiring an additional 104,799 shares during the period. Finally, Qube Research & Technologies Ltd lifted its holdings in Ceragon Networks by 100.4% during the second quarter. Qube Research & Technologies Ltd now owns 580,093 shares of the communications equipment provider's stock worth $1,427,000 after acquiring an additional 290,695 shares during the period. Institutional investors own 13.31% of the company's stock.

Ceragon Networks Stock Performance

Shares of CRNT opened at $2.14 on Friday. The firm has a market capitalization of $194.50 million, a P/E ratio of -71.33 and a beta of 1.37. Ceragon Networks has a 52 week low of $1.85 and a 52 week high of $3.29. The stock has a 50 day moving average price of $2.27 and a two-hundred day moving average price of $2.40.

Ceragon Networks (NASDAQ:CRNT - Get Free Report) last posted its earnings results on Tuesday, August 11th. The communications equipment provider reported $0.02 earnings per share for the quarter. The company had revenue of $93.91 million for the quarter, compared to analyst estimates of $86.45 million. Ceragon Networks had a positive return on equity of 2.74% and a negative net margin of 0.95%. On average, equities analysts forecast that Ceragon Networks will post 0.1 earnings per share 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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