Ceragon Networks (NASDAQ:CRNT) Given “Buy” Rating at Needham & Company LLC

Ceragon Networks (NASDAQ:CRNT)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a report issued on Thursday,Benzinga reports. They currently have a $6.00 price target on the communications equipment provider’s stock. Needham & Company LLC’s price target points to a potential upside of 28.21% from the company’s current price.

CRNT has been the subject of a number of other research reports. Roth Mkm began coverage on Ceragon Networks in a research report on Monday, October 28th. They issued a “buy” rating and a $4.50 price target for the company. Roth Capital upgraded shares of Ceragon Networks to a “strong-buy” rating in a research note on Monday, October 28th. Finally, Litchfield Hills Research assumed coverage on shares of Ceragon Networks in a research report on Tuesday, December 3rd. They issued a “buy” rating and a $10.00 price target for the company. Three investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Ceragon Networks presently has an average rating of “Buy” and a consensus target price of $6.83.

Ceragon Networks Price Performance

Shares of Ceragon Networks stock opened at $4.68 on Thursday. The stock has a market capitalization of $399.77 million, a PE ratio of 21.27 and a beta of 1.60. Ceragon Networks has a 1-year low of $2.33 and a 1-year high of $5.73. The company’s fifty day simple moving average is $4.19 and its 200-day simple moving average is $3.21.

Institutional Trading of Ceragon Networks

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. WINTON GROUP Ltd bought a new position in shares of Ceragon Networks during the second quarter worth $26,000. Renaissance Technologies LLC lifted its stake in Ceragon Networks by 35.4% in the 2nd quarter. Renaissance Technologies LLC now owns 643,816 shares of the communications equipment provider’s stock worth $1,610,000 after purchasing an additional 168,416 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of Ceragon Networks by 45.7% during the 2nd quarter. Sei Investments Co. now owns 27,423 shares of the communications equipment provider’s stock valued at $69,000 after purchasing an additional 8,607 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Ceragon Networks during the second quarter valued at about $56,000. Finally, Walleye Capital LLC grew its position in shares of Ceragon Networks by 95.1% during the third quarter. Walleye Capital LLC now owns 283,933 shares of the communications equipment provider’s stock valued at $778,000 after purchasing an additional 138,411 shares in the last quarter. 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.