Ceragon Networks Ltd. (NASDAQ:CRNT) Given Average Rating of “Buy” by Brokerages

Ceragon Networks Ltd. (NASDAQ:CRNT) has received a consensus recommendation of “Buy” from the five brokerages that are presently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $6.38.

A number of brokerages recently commented on CRNT. Litchfield Hills Research began coverage on Ceragon Networks in a report on Tuesday, December 3rd. They set a “buy” rating and a $10.00 target price for the company. Needham & Company LLC reissued a “buy” rating and issued a $6.00 price objective on shares of Ceragon Networks in a research note on Wednesday, February 12th. StockNews.com lowered shares of Ceragon Networks from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Craig Hallum initiated coverage on shares of Ceragon Networks in a research report on Thursday, March 13th. They issued a “buy” rating and a $5.00 price target for the company.

Ceragon Networks Price Performance

CRNT opened at $2.58 on Thursday. Ceragon Networks has a 52 week low of $2.33 and a 52 week high of $5.73. The business has a fifty day simple moving average of $3.75 and a 200-day simple moving average of $3.50. The firm has a market cap of $220.38 million, a P/E ratio of 9.56 and a beta of 1.62.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CRNT. Penn Capital Management Company LLC purchased a new position in Ceragon Networks in the fourth quarter worth approximately $54,000. Commonwealth Equity Services LLC purchased a new stake in shares of Ceragon Networks during the 4th quarter worth $58,000. Bravias Capital Group LLC purchased a new stake in Ceragon Networks during the 4th quarter worth about $71,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Ceragon Networks during the 4th quarter worth about $81,000. Finally, Perigon Wealth Management LLC purchased a new stake in Ceragon Networks during the 4th quarter worth about $90,000. Hedge funds and other 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.