Ceragon Networks Ltd. (NASDAQ:CRNT) Stock Has Consensus Target Price of $3.75

Shares of Ceragon Networks Ltd. (NASDAQ:CRNT) have earned an average rating of “Moderate Buy” from the six ratings firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $3.75.

Several brokerages have issued reports on CRNT. Zacks Research upgraded Ceragon Networks from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 27th. Wall Street Zen downgraded shares of Ceragon Networks from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. Needham & Company LLC restated a “buy” rating and set a $3.00 price objective on shares of Ceragon Networks in a report on Tuesday, August 11th. Finally, Weiss Ratings lowered Ceragon Networks from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, August 19th.

Institutional Trading of Ceragon Networks

Several hedge funds have recently modified their holdings of the company. Aristides Capital LLC increased its holdings in shares of Ceragon Networks by 4.5% in the 4th quarter. Aristides Capital LLC now owns 141,130 shares of the communications equipment provider’s stock valued at $296,000 after acquiring an additional 6,130 shares during the period. Spark Investment Management LLC purchased a new position in Ceragon Networks during the 2nd quarter worth $27,000. AXQ Capital LP lifted its stake in shares of Ceragon Networks by 66.3% in the 2nd 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 during the period. R Squared Ltd lifted its stake in shares of Ceragon Networks by 71.3% in the 1st 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 period. Finally, Renaissance Technologies LLC boosted its holdings in shares of Ceragon Networks by 13.7% in the first quarter. Renaissance Technologies LLC now owns 214,500 shares of the communications equipment provider’s stock valued at $463,000 after acquiring an additional 25,800 shares in the last quarter. 13.31% of the stock is owned by hedge funds and other institutional investors.

Ceragon Networks Trading Up 3.4%

Shares of NASDAQ:CRNT opened at $2.00 on Friday. The company has a market cap of $181.78 million, a price-to-earnings ratio of -66.67 and a beta of 1.33. Ceragon Networks has a 12 month low of $1.85 and a 12 month high of $3.29. The company has a 50-day moving average price of $2.08 and a 200 day moving average price of $2.35.

Ceragon Networks (NASDAQ:CRNT) last released its quarterly 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%. As a group, equities analysts forecast that Ceragon Networks will post 0.10 EPS for the current year.

About Ceragon Networks

Ceragon Networks Ltd. is a telecommunications equipment and solutions provider focused on wireless transport networks. The company develops microwave and millimeter-wave radio systems that enable wireless backhaul, fronthaul and xHaul connections between mobile network sites and core networks. Its solutions are designed to help communications service providers expand network capacity, support 4G and 5G deployments, and connect locations where fiber infrastructure is unavailable or impractical.

Ceragon’s portfolio includes packet microwave and hybrid wireless systems, outdoor and indoor radios, antennas, network management software, and related services.