BidaskClub Downgrades Ceragon Networks (CRNT) to Sell
Ceragon Networks (NASDAQ:CRNT) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Tuesday.
A number of other research analysts have also issued reports on the stock. Oppenheimer set a $5.00 price target on shares of Ceragon Networks and gave the company a “buy” rating in a research note on Monday, December 10th. Zacks Investment Research lowered shares of Ceragon Networks from a “buy” rating to a “hold” rating in a research note on Friday, January 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $4.66.
NASDAQ CRNT opened at $3.58 on Tuesday. The company has a market cap of $284.43 million, a P/E ratio of 19.16, a PEG ratio of 1.01 and a beta of 1.07. Ceragon Networks has a 52 week low of $2.46 and a 52 week high of $5.04.
Institutional investors have recently modified their holdings of the business. ClariVest Asset Management LLC acquired a new position in Ceragon Networks during the 4th quarter valued at approximately $621,000. Menta Capital LLC increased its stake in Ceragon Networks by 24.5% during the 4th quarter. Menta Capital LLC now owns 317,172 shares of the communications equipment provider’s stock valued at $1,199,000 after purchasing an additional 62,467 shares in the last quarter. Renaissance Technologies LLC increased its stake in Ceragon Networks by 28.7% during the 3rd quarter. Renaissance Technologies LLC now owns 3,470,291 shares of the communications equipment provider’s stock valued at $11,695,000 after purchasing an additional 773,591 shares in the last quarter. GSA Capital Partners LLP increased its stake in Ceragon Networks by 12.4% during the 4th quarter. GSA Capital Partners LLP now owns 134,911 shares of the communications equipment provider’s stock valued at $510,000 after purchasing an additional 14,900 shares in the last quarter. Finally, Harvest Management LLC increased its stake in Ceragon Networks by 5.8% during the 4th quarter. Harvest Management LLC now owns 58,200 shares of the communications equipment provider’s stock valued at $220,000 after purchasing an additional 3,200 shares in the last quarter. Institutional investors and hedge funds own 27.17% of the company’s stock.
Ceragon Networks Company Profile
Ceragon Networks Ltd. provides wireless backhaul solutions that enable cellular operators and other wireless service providers to deliver voice and data services worldwide. Its wireless backhaul solutions use microwave radio technology to transfer telecommunication traffic between base stations, small sells, and the core of the service provider's network.
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