Ceragon Networks Ltd (NASDAQ:CRNT) Receives $4.75 Average PT from Brokerages

Ceragon Networks Ltd (NASDAQ:CRNT) has been assigned an average recommendation of “Hold” from the nine research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $4.75.

A number of research firms have commented on CRNT. Zacks Investment Research cut shares of Ceragon Networks from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. BidaskClub cut shares of Ceragon Networks from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. ValuEngine raised shares of Ceragon Networks from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Finally, TheStreet cut shares of Ceragon Networks from a “b” rating to a “c+” rating in a research note on Friday, May 10th.

Several institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC boosted its stake in shares of Ceragon Networks by 2.3% in the 1st quarter. Acadian Asset Management LLC now owns 3,191,940 shares of the communications equipment provider’s stock valued at $11,460,000 after purchasing an additional 71,937 shares in the last quarter. AJO LP boosted its stake in shares of Ceragon Networks by 2.0% in the 1st quarter. AJO LP now owns 693,898 shares of the communications equipment provider’s stock valued at $2,491,000 after purchasing an additional 13,282 shares in the last quarter. Two Sigma Investments LP boosted its stake in shares of Ceragon Networks by 168.0% in the 4th quarter. Two Sigma Investments LP now owns 621,055 shares of the communications equipment provider’s stock valued at $2,348,000 after purchasing an additional 389,309 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Ceragon Networks by 20.5% in the 4th quarter. Millennium Management LLC now owns 468,093 shares of the communications equipment provider’s stock valued at $1,769,000 after purchasing an additional 79,725 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its stake in shares of Ceragon Networks by 50.9% in the 4th quarter. Two Sigma Advisers LP now owns 453,600 shares of the communications equipment provider’s stock valued at $1,715,000 after purchasing an additional 153,100 shares in the last quarter. 20.83% of the stock is owned by institutional investors.

CRNT stock traded up $0.14 during midday trading on Friday, reaching $3.13. The company had a trading volume of 566,485 shares, compared to its average volume of 351,565. Ceragon Networks has a 1 year low of $2.67 and a 1 year high of $5.04. The stock has a market cap of $239.62 million, a PE ratio of 15.65, a P/E/G ratio of 1.05 and a beta of 1.33.

Ceragon Networks (NASDAQ:CRNT) last released its quarterly earnings results on Monday, May 6th. The communications equipment provider reported $0.03 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.03. Ceragon Networks had a net margin of 6.61% and a return on equity of 9.63%. The business had revenue of $69.16 million during the quarter, compared to analysts’ expectations of $73.74 million. On average, sell-side analysts forecast that Ceragon Networks will post 0.19 earnings per share for the current fiscal year.

About Ceragon Networks

Ceragon Networks Ltd. provides wireless backhaul solutions that enable cellular operators and other wireless service providers to deliver voice and data services worldwide. Its wireless backhaul solutions use microwave and millimeter wave technology to transfer telecommunication traffic between base stations, small sells, and the core of the service provider's network.

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Analyst Recommendations for Ceragon Networks (NASDAQ:CRNT)

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