Ceragon Networks Ltd. (CRNT) Upgraded by ValuEngine to “Buy”
ValuEngine upgraded shares of Ceragon Networks Ltd. (NASDAQ:CRNT) from a hold rating to a buy rating in a research note issued to investors on Monday.
CRNT has been the topic of several other research reports. Zacks Investment Research cut Ceragon Networks from a buy rating to a hold rating in a report on Tuesday, July 11th. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of Ceragon Networks in a research note on Tuesday, August 8th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $2.83.
Ceragon Networks (NASDAQ:CRNT) traded down 0.49% during mid-day trading on Monday, reaching $2.05. The company’s stock had a trading volume of 21,508 shares. Ceragon Networks has a 1-year low of $1.88 and a 1-year high of $4.23. The company has a market capitalization of $159.68 million, a PE ratio of 9.62 and a beta of 1.25. The firm has a 50 day moving average price of $2.06 and a 200-day moving average price of $2.68.
Ceragon Networks (NASDAQ:CRNT) last posted its quarterly earnings data on Monday, August 7th. The communications equipment provider reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. Ceragon Networks had a net margin of 5.00% and a return on equity of 13.52%. The business had revenue of $93.30 million during the quarter, compared to analysts’ expectations of $87.84 million. During the same period last year, the firm posted $0.02 earnings per share. The business’s revenue was up 33.3% on a year-over-year basis. On average, equities analysts predict that Ceragon Networks will post $0.20 EPS for the current fiscal year.
ILLEGAL ACTIVITY WARNING: “Ceragon Networks Ltd. (CRNT) Upgraded by ValuEngine to “Buy”” was originally reported by Watch List News and is the sole property of of Watch List News. If you are accessing this article on another site, it was illegally stolen and republished in violation of United States and international copyright & trademark law. The legal version of this article can be read at https://www.watchlistnews.com/ceragon-networks-ltd-crnt-upgraded-by-valuengine-to-buy/1605333.html.
A number of hedge funds and other institutional investors have recently modified their holdings of CRNT. Parametric Portfolio Associates LLC boosted its position in shares of Ceragon Networks by 23.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 59,132 shares of the communications equipment provider’s stock valued at $151,000 after purchasing an additional 11,410 shares in the last quarter. State of New Jersey Common Pension Fund D grew its stake in shares of Ceragon Networks by 64.6% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 60,871 shares of the communications equipment provider’s stock worth $155,000 after purchasing an additional 23,880 shares during the last quarter. State Street Corp grew its stake in shares of Ceragon Networks by 1.6% in the 2nd quarter. State Street Corp now owns 76,592 shares of the communications equipment provider’s stock worth $195,000 after purchasing an additional 1,205 shares during the last quarter. Eagle Global Advisors LLC grew its stake in shares of Ceragon Networks by 113.0% in the 2nd quarter. Eagle Global Advisors LLC now owns 98,000 shares of the communications equipment provider’s stock worth $250,000 after purchasing an additional 52,000 shares during the last quarter. Finally, Spark Investment Management LLC acquired a new position in shares of Ceragon Networks in the 2nd quarter worth approximately $305,000. 20.64% of the stock is owned by institutional investors.
Ceragon Networks Company Profile
Ceragon Networks Ltd. offers wireless backhaul solutions. The Company’s products include FibeAir IP-20 Platform, FibeAir IP-20 Assured Platform and Network Management. The Company provides its services to wireless service providers, public safety organizations, government agencies and utility companies, among others.
Receive News & Ratings for Ceragon Networks Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ceragon Networks Ltd. and related companies with Analyst Ratings Network's FREE daily email newsletter.