Ceragon Networks Ltd. (NASDAQ:CRNT) Receives Consensus Recommendation of “Buy” from Analysts

Ceragon Networks Ltd. (NASDAQ:CRNT) has been assigned a consensus rating of “Buy” from the five brokerages that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $6.38.

Several research analysts have weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $6.00 price target on shares of Ceragon Networks in a research report on Wednesday, February 12th. Litchfield Hills Research assumed coverage on Ceragon Networks in a research report on Tuesday, December 3rd. They set a “buy” rating and a $10.00 price target on the stock. Craig Hallum initiated coverage on Ceragon Networks in a research report on Thursday, March 13th. They set a “buy” rating and a $5.00 price target on the stock. Finally, StockNews.com lowered Ceragon Networks from a “buy” rating to a “hold” rating in a report on Saturday, March 8th.

Ceragon Networks Stock Down 4.0 %

NASDAQ:CRNT opened at $2.62 on Thursday. The firm has a market capitalization of $223.80 million, a price-to-earnings ratio of 9.70 and a beta of 1.62. Ceragon Networks has a twelve month low of $2.33 and a twelve month high of $5.73. The stock’s 50 day moving average price is $3.86 and its two-hundred day moving average price is $3.50.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Walleye Capital LLC increased its holdings in shares of Ceragon Networks by 95.1% during the 3rd quarter. Walleye Capital LLC now owns 283,933 shares of the communications equipment provider’s stock worth $778,000 after acquiring an additional 138,411 shares during the last quarter. Inspire Investing LLC bought a new stake in Ceragon Networks in the 4th quarter valued at $903,000. JPMorgan Chase & Co. bought a new stake in Ceragon Networks in the 3rd quarter valued at $104,000. Perigon Wealth Management LLC bought a new stake in Ceragon Networks in the 4th quarter valued at $90,000. Finally, Navellier & Associates Inc. bought a new stake in Ceragon Networks in the 4th quarter valued at $1,804,000. 13.31% of the stock is owned by institutional investors and hedge funds.

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.