Ceragon Networks Ltd. (NASDAQ:CRNT) Given Consensus Recommendation of “Hold” by Brokerages

Ceragon Networks Ltd. (NASDAQ:CRNT) has earned a consensus rating of “Hold” from the five analysts that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $4.00.

A number of research firms recently weighed in on CRNT. Zacks Research downgraded shares of Ceragon Networks from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 20th. Weiss Ratings restated a “hold (c-)” rating on shares of Ceragon Networks in a report on Monday, December 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $3.00 target price on shares of Ceragon Networks in a research report on Wednesday, November 12th.

Institutional Investors Weigh In On Ceragon Networks

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets bought a new position in shares of Ceragon Networks in the second quarter valued at $26,000. Jones Financial Companies Lllp lifted its stake in Ceragon Networks by 283.3% in the third quarter. Jones Financial Companies Lllp now owns 11,500 shares of the communications equipment provider’s stock valued at $27,000 after acquiring an additional 8,500 shares during the last quarter. Walleye Capital LLC bought a new position in shares of Ceragon Networks in the 4th quarter valued at about $27,000. Bank of Montreal Can acquired a new position in shares of Ceragon Networks during the 2nd quarter worth about $35,000. Finally, Tamar Securities LLC increased its stake in shares of Ceragon Networks by 67.3% during the 4th quarter. Tamar Securities LLC now owns 17,016 shares of the communications equipment provider’s stock worth $36,000 after purchasing an additional 6,848 shares during the last quarter. Institutional investors own 13.31% of the company’s stock.

Ceragon Networks Stock Performance

NASDAQ:CRNT opened at $2.31 on Thursday. The stock has a 50-day simple moving average of $2.26 and a 200 day simple moving average of $2.22. Ceragon Networks has a 52-week low of $1.82 and a 52-week high of $2.84. The company has a market cap of $205.43 million, a PE ratio of -115.50 and a beta of 1.20.

Ceragon Networks (NASDAQ:CRNT) last released its earnings results on Tuesday, February 17th. The communications equipment provider reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). The firm had revenue of $82.33 million during the quarter, compared to the consensus estimate of $84.23 million. Ceragon Networks had a negative net margin of 0.62% and a positive return on equity of 3.52%. On average, research analysts predict that Ceragon Networks will post 0.26 earnings per share for the current fiscal year.

Ceragon Networks Company Profile

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.