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.

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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.

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