Ceragon Networks Ltd. (NASDAQ:CRNT) Receives $3.75 Consensus Target Price from Analysts

Ceragon Networks Ltd. (NASDAQ:CRNT) has been given an average rating of “Moderate Buy” by the six research firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $3.75.

A number of research firms have issued reports on CRNT. Craig Hallum restated a “buy” rating and set a $4.00 target price on shares of Ceragon Networks in a research report on Wednesday, May 20th. Wall Street Zen cut shares of Ceragon Networks from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Zacks Research raised shares of Ceragon Networks from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 27th. Roth Capital restated a “buy” rating and issued a $4.50 price objective on shares of Ceragon Networks in a report on Tuesday, May 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $3.00 price objective on shares of Ceragon Networks in a research note on Tuesday, August 11th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets boosted its position in shares of Ceragon Networks by 49.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 15,817 shares of the communications equipment provider’s stock worth $37,000 after purchasing an additional 5,211 shares during the last quarter. HRT Financial LP increased its holdings in Ceragon Networks by 44.3% in the fourth quarter. HRT Financial LP now owns 19,660 shares of the communications equipment provider’s stock valued at $41,000 after purchasing an additional 6,039 shares during the last quarter. Aristides Capital LLC increased its holdings in Ceragon Networks by 4.5% in the fourth quarter. Aristides Capital LLC now owns 141,130 shares of the communications equipment provider’s stock valued at $296,000 after purchasing an additional 6,130 shares during the last quarter. Tamar Securities LLC lifted 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 period. Finally, WINTON GROUP Ltd lifted its stake in Ceragon Networks by 11.2% in the fourth quarter. WINTON GROUP Ltd now owns 97,834 shares of the communications equipment provider’s stock valued at $205,000 after buying an additional 9,867 shares during the period. Institutional investors and hedge funds own 13.31% of the company’s stock.

Ceragon Networks Stock Down 1.0%

CRNT stock opened at $2.05 on Friday. The company has a market cap of $186.32 million, a P/E ratio of -68.33 and a beta of 1.36. Ceragon Networks has a twelve month low of $1.85 and a twelve month high of $3.29. The business has a fifty day moving average of $2.22 and a 200-day moving average of $2.39.

Ceragon Networks (NASDAQ:CRNT) last posted its quarterly earnings results on Tuesday, August 11th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter. The business had revenue of $93.91 million for the quarter, compared to analysts’ expectations of $86.45 million. Ceragon Networks had a positive return on equity of 2.74% and a negative net margin of 0.95%. As a group, equities research analysts anticipate that Ceragon Networks will post 0.1 earnings per share for the current fiscal 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.