Ceragon Networks (NASDAQ:CRNT) Downgraded to “Buy” Rating by Wall Street Zen

Wall Street Zen cut shares of Ceragon Networks (NASDAQ:CRNT) from a strong-buy rating to a buy rating in a report released on Saturday.

A number of other brokerages have also commented on CRNT. Weiss Ratings raised Ceragon Networks from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, May 26th. Roth Capital restated a “buy” rating and set a $4.50 price objective on shares of Ceragon Networks in a report on Tuesday, May 19th. Needham & Company LLC reissued a “buy” rating and issued a $3.00 target price on shares of Ceragon Networks in a research report on Tuesday, August 11th. 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. Finally, Zacks Research lowered Ceragon Networks from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 16th. Four research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $3.75.

Ceragon Networks Trading Up 0.9%

Shares of CRNT opened at $2.20 on Friday. The company has a market capitalization of $199.96 million, a PE ratio of -73.33 and a beta of 1.37. The stock’s 50-day moving average price is $2.41 and its two-hundred day moving average price is $2.42. Ceragon Networks has a 12 month low of $1.85 and a 12 month high of $3.29.

Ceragon Networks (NASDAQ:CRNT) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $86.45 million. Ceragon Networks had a negative net margin of 0.95% and a positive return on equity of 2.74%. Equities research analysts predict that Ceragon Networks will post 0.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Ceragon Networks

Several hedge funds have recently made changes to their positions in the company. First Wilshire Securities Management Inc. grew its stake in shares of Ceragon Networks by 18.0% in the first quarter. First Wilshire Securities Management Inc. now owns 4,854,150 shares of the communications equipment provider’s stock worth $10,485,000 after acquiring an additional 740,358 shares during the last quarter. CSM Advisors LLC grew its stake in shares of Ceragon Networks by 10.5% in the fourth quarter. CSM Advisors LLC now owns 2,284,048 shares of the communications equipment provider’s stock worth $4,795,000 after acquiring an additional 216,273 shares during the period. Private Advisor Group LLC grew its position in Ceragon Networks by 47.4% in the 4th quarter. Private Advisor Group LLC now owns 1,420,888 shares of the communications equipment provider’s stock worth $2,984,000 after purchasing an additional 456,710 shares during the period. WealthTrust Axiom LLC increased its position 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 valued at $1,891,000 after acquiring an additional 104,799 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its position in shares of Ceragon Networks by 100.4% during the 2nd quarter. Qube Research & Technologies Ltd now owns 580,093 shares of the communications equipment provider’s stock valued at $1,427,000 after purchasing an additional 290,695 shares during the last quarter. 13.31% of the stock is currently owned by institutional investors.

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.