Ceragon Networks (NASDAQ:CRNT) Rating Lowered to “Hold” at StockNews.com

Ceragon Networks (NASDAQ:CRNT) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Several other equities research analysts have also recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $6.00 price objective on shares of Ceragon Networks in a research report on Wednesday, February 12th. Litchfield Hills Research assumed coverage on shares of Ceragon Networks in a research note on Tuesday, December 3rd. They set a “buy” rating and a $10.00 target price on the stock. Finally, Craig Hallum started coverage on shares of Ceragon Networks in a research note on Thursday, March 13th. They issued a “buy” rating and a $5.00 price target for the company. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Ceragon Networks currently has a consensus rating of “Buy” and a consensus price target of $6.38.

Ceragon Networks Price Performance

Shares of NASDAQ:CRNT opened at $2.53 on Thursday. The business has a fifty day moving average price of $3.66 and a 200-day moving average price of $3.49. The company has a market capitalization of $216.11 million, a PE ratio of 9.37 and a beta of 1.62. Ceragon Networks has a 1-year low of $2.33 and a 1-year high of $5.73.

Institutional Trading of Ceragon Networks

Several hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC lifted its position in shares of Ceragon Networks by 47.1% during the 4th quarter. Renaissance Technologies LLC now owns 1,333,295 shares of the communications equipment provider’s stock valued at $6,226,000 after buying an additional 426,760 shares in the last quarter. Millennium Management LLC raised its stake in Ceragon Networks by 123.9% during the 4th quarter. Millennium Management LLC now owns 962,898 shares of the communications equipment provider’s stock worth $4,497,000 after acquiring an additional 532,798 shares during the period. Marshall Wace LLP lifted its holdings in Ceragon Networks by 598.1% during the fourth quarter. Marshall Wace LLP now owns 703,091 shares of the communications equipment provider’s stock valued at $3,283,000 after purchasing an additional 602,383 shares in the last quarter. Lazard Asset Management LLC boosted its position in shares of Ceragon Networks by 26.7% in the fourth quarter. Lazard Asset Management LLC now owns 570,288 shares of the communications equipment provider’s stock worth $2,663,000 after purchasing an additional 120,106 shares during the period. Finally, Navellier & Associates Inc. purchased a new stake in shares of Ceragon Networks in the fourth quarter worth $1,804,000. Institutional investors own 13.31% of the company’s stock.

About Ceragon Networks

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.