Ceragon Networks (NASDAQ:CRNT) Raised to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Ceragon Networks (NASDAQ:CRNTFree Report) from a buy rating to a strong-buy rating in a research report report published on Wednesday morning.

Separately, Needham & Company LLC restated a buy rating and set a $5.25 price target on shares of Ceragon Networks in a research note on Tuesday, May 7th.

Get Our Latest Stock Analysis on Ceragon Networks

Ceragon Networks Stock Up 0.8 %

Shares of CRNT stock opened at $2.63 on Wednesday. The company has a 50 day moving average of $2.87 and a 200-day moving average of $2.58. Ceragon Networks has a 12-month low of $1.56 and a 12-month high of $3.38. The firm has a market cap of $224.65 million, a P/E ratio of 52.61 and a beta of 1.50.

Ceragon Networks (NASDAQ:CRNTGet Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The communications equipment provider reported $0.04 earnings per share (EPS) for the quarter. Ceragon Networks had a net margin of 1.32% and a return on equity of 10.76%. The company had revenue of $88.50 million during the quarter. As a group, equities analysts expect that Ceragon Networks will post 0.18 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC purchased a new position in Ceragon Networks in the 3rd quarter valued at approximately $1,291,000. Essex Investment Management Co. LLC grew its stake in Ceragon Networks by 33.4% in the 3rd quarter. Essex Investment Management Co. LLC now owns 1,137,973 shares of the communications equipment provider’s stock valued at $2,333,000 after buying an additional 284,960 shares in the last quarter. Perritt Capital Management Inc. grew its stake in Ceragon Networks by 14.9% in the 3rd quarter. Perritt Capital Management Inc. now owns 204,000 shares of the communications equipment provider’s stock valued at $418,000 after buying an additional 26,500 shares in the last quarter. First Wilshire Securities Management Inc. grew its position in shares of Ceragon Networks by 18.4% during the 3rd quarter. First Wilshire Securities Management Inc. now owns 3,011,562 shares of the communications equipment provider’s stock valued at $6,174,000 after purchasing an additional 467,998 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its position in shares of Ceragon Networks by 33.0% during the 3rd quarter. First Eagle Investment Management LLC now owns 677,251 shares of the communications equipment provider’s stock valued at $1,388,000 after purchasing an additional 168,036 shares in the last quarter. 13.31% of the stock is currently owned by hedge funds and other institutional investors.

About Ceragon Networks

(Get Free Report)

Ceragon Networks Ltd., together with its subsidiaries, provides wireless transport solutions for cellular operators and other wireless service providers in North America, Europe, Africa, the Asia Pacific, the Middle East, India, and Latin America. The company's solutions use microwave and millimeter wave radio technology to transfer telecommunication traffic between base stations, small/distributed cells, and the service provider's network.

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