Ceragon Networks (CRNT) Upgraded by ValuEngine to “Buy”

ValuEngine upgraded shares of Ceragon Networks (NASDAQ:CRNT) from a hold rating to a buy rating in a research report released on Tuesday.

CRNT has been the subject of several other reports. Zacks Investment Research cut shares of Ceragon Networks from a hold rating to a sell rating in a research report on Wednesday, November 8th. Jefferies Group restated a hold rating and issued a $2.50 price target on shares of Ceragon Networks in a research report on Sunday, October 8th. Finally, Oppenheimer restated a hold rating on shares of Ceragon Networks in a research report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $2.50.

Shares of Ceragon Networks (CRNT) traded up $0.15 during midday trading on Tuesday, reaching $2.24. 1,681,400 shares of the company’s stock traded hands, compared to its average volume of 538,966. Ceragon Networks has a 1 year low of $1.64 and a 1 year high of $4.23. The firm has a market cap of $162.68, a PE ratio of 10.45 and a beta of 1.07.

Ceragon Networks (NASDAQ:CRNT) last announced its quarterly earnings results on Monday, November 6th. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.05. Ceragon Networks had a net margin of 5.06% and a return on equity of 12.60%. The firm had revenue of $75.99 million during the quarter, compared to analysts’ expectations of $78.22 million. During the same period in the prior year, the company posted $0.06 EPS. The company’s revenue was down 4.0% on a year-over-year basis. equities research analysts expect that Ceragon Networks will post 0.18 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Parametric Portfolio Associates LLC increased its position in shares of Ceragon Networks by 23.9% during the second quarter. Parametric Portfolio Associates LLC now owns 59,132 shares of the communications equipment provider’s stock worth $151,000 after buying an additional 11,410 shares during the period. State of New Jersey Common Pension Fund D increased its position in shares of Ceragon Networks by 64.6% during the second quarter. State of New Jersey Common Pension Fund D now owns 60,871 shares of the communications equipment provider’s stock worth $155,000 after buying an additional 23,880 shares during the period. State Street Corp increased its position in shares of Ceragon Networks by 1.6% during the second quarter. State Street Corp now owns 76,592 shares of the communications equipment provider’s stock worth $195,000 after buying an additional 1,205 shares during the period. Spark Investment Management LLC acquired a new stake in shares of Ceragon Networks during the second quarter worth $305,000. Finally, Renaissance Group LLC increased its position in shares of Ceragon Networks by 10.9% during the second quarter. Renaissance Group LLC now owns 121,151 shares of the communications equipment provider’s stock worth $309,000 after buying an additional 11,940 shares during the period. Hedge funds and other institutional investors own 16.11% of the company’s stock.

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Ceragon Networks Company Profile

Ceragon Networks Ltd. offers wireless backhaul solutions. The Company’s products include FibeAir IP-20 Platform, FibeAir IP-20 Assured Platform and Network Management. The Company provides its services to wireless service providers, public safety organizations, government agencies and utility companies, among others.

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