Craig Hallum Begins Coverage on Ceragon Networks (NASDAQ:CRNT)

Craig Hallum initiated coverage on shares of Ceragon Networks (NASDAQ:CRNT) in a report issued on Thursday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $5.00 price target on the communications equipment provider’s stock. Craig Hallum’s price objective indicates a potential upside of 83.15% from the stock’s previous close.

CRNT has been the topic of several other reports. StockNews.com cut Ceragon Networks from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Litchfield Hills Research started coverage on Ceragon Networks in a research note on Tuesday, December 3rd. They set a “buy” rating and a $10.00 price objective on the stock. Finally, Needham & Company LLC reissued a “buy” rating and set a $6.00 price objective on shares of Ceragon Networks in a research note on Wednesday, February 12th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Ceragon Networks currently has an average rating of “Buy” and an average price target of $6.38.

Ceragon Networks Trading Up 5.4 %

NASDAQ:CRNT opened at $2.73 on Thursday. The company has a market capitalization of $233.19 million, a P/E ratio of 10.11 and a beta of 1.62. Ceragon Networks has a 12 month low of $2.33 and a 12 month high of $5.73. The business’s 50-day moving average is $3.96 and its 200 day moving average is $3.50.

Hedge Funds Weigh In On Ceragon Networks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Penn Capital Management Company LLC acquired a new stake in Ceragon Networks during the 4th quarter worth about $54,000. Commonwealth Equity Services LLC acquired a new stake in Ceragon Networks during the 4th quarter worth about $58,000. Bravias Capital Group LLC acquired a new stake in Ceragon Networks during the 4th quarter worth about $71,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Ceragon Networks during the 4th quarter worth about $81,000. Finally, Perigon Wealth Management LLC acquired a new stake in Ceragon Networks during the 4th quarter worth about $90,000. Hedge funds and other institutional investors own 13.31% of the company’s stock.

Ceragon Networks Company Profile

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.