Ceragon Networks (NASDAQ:CRNT) Stock Rating Lowered by Zacks Research

Ceragon Networks (NASDAQ:CRNT) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on the stock. Wall Street Zen raised shares of Ceragon Networks from a “hold” rating to a “strong-buy” rating in a research note on Saturday, May 23rd. Weiss Ratings raised shares of Ceragon Networks from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, May 26th. Lake Street Capital started coverage on shares of Ceragon Networks in a report on Tuesday, March 31st. They set a “buy” rating and a $3.50 target price for the company. Needham & Company LLC reiterated a “buy” rating and set a $3.00 target price on shares of Ceragon Networks in a research report on Wednesday, May 20th. Finally, Craig Hallum reissued a “buy” rating and issued a $4.00 price target on shares of Ceragon Networks in a research note on Wednesday, May 20th. Four analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $3.75.

Ceragon Networks Stock Performance

Shares of NASDAQ:CRNT opened at $2.17 on Thursday. The stock has a market capitalization of $197.23 million, a P/E ratio of -108.50 and a beta of 1.36. Ceragon Networks has a 1-year low of $1.82 and a 1-year high of $3.29. The business has a 50-day moving average price of $2.63 and a two-hundred day moving average price of $2.42.

Ceragon Networks (NASDAQ:CRNT) last released its earnings results on Wednesday, April 15th. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter. The company had revenue of $85.00 million for the quarter. Ceragon Networks had a negative net margin of 0.73% and a positive return on equity of 2.27%. As a group, equities analysts predict that Ceragon Networks will post 0.12 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Aristides Capital LLC boosted its stake in Ceragon Networks by 15.5% in the 1st quarter. Aristides Capital LLC now owns 162,963 shares of the communications equipment provider’s stock worth $352,000 after purchasing an additional 21,833 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Ceragon Networks in the 1st quarter valued at about $911,000. First Wilshire Securities Management Inc. raised its stake in shares of Ceragon Networks by 18.0% in the 1st quarter. First Wilshire Securities Management Inc. now owns 4,854,150 shares of the communications equipment provider’s stock valued at $10,485,000 after purchasing an additional 740,358 shares during the period. R Squared Ltd lifted its holdings in shares of Ceragon Networks by 71.3% in the first quarter. R Squared Ltd now owns 55,838 shares of the communications equipment provider’s stock valued at $121,000 after purchasing an additional 23,234 shares in the last quarter. Finally, Walleye Capital LLC bought a new stake in shares of Ceragon Networks in the fourth quarter valued at about $27,000. Institutional investors own 13.31% of the company’s stock.

Ceragon Networks Company Profile

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.