Ceragon Networks Ltd. (CRNT) Given Average Recommendation of “Hold” by Brokerages
Shares of Ceragon Networks Ltd. (NASDAQ:CRNT) have been given an average recommendation of “Hold” by the six research firms that are covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold rating. The average 1-year target price among brokers that have issued a report on the stock in the last year is $3.00.
A number of brokerages have issued reports on CRNT. ValuEngine lowered shares of Ceragon Networks from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Ceragon Networks in a research report on Thursday, May 11th. Finally, Zacks Investment Research lowered shares of Ceragon Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th.
Several hedge funds and other institutional investors have recently bought and sold shares of CRNT. Norges Bank acquired a new stake in shares of Ceragon Networks during the 4th quarter worth approximately $1,291,000. Systematic Financial Management LP acquired a new stake in shares of Ceragon Networks during the 1st quarter worth approximately $1,579,000. Zweig DiMenna Associates LLC acquired a new stake in shares of Ceragon Networks during the 1st quarter worth approximately $1,194,000. Oxford Asset Management boosted its position in shares of Ceragon Networks by 345.1% during the 1st quarter. Oxford Asset Management now owns 464,213 shares of the communications equipment provider’s stock worth $1,518,000 after acquiring an additional 359,910 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of Ceragon Networks during the 1st quarter worth approximately $1,055,000. Institutional investors and hedge funds own 20.64% of the company’s stock.
Ceragon Networks (NASDAQ:CRNT) remained flat at $2.07 during midday trading on Friday. The stock had a trading volume of 230,963 shares. The firm has a market capitalization of $161.23 million, a price-to-earnings ratio of 9.72 and a beta of 1.19. The company has a 50 day moving average price of $2.25 and a 200 day moving average price of $2.89. Ceragon Networks has a 52-week low of $1.95 and a 52-week high of $4.23.
Ceragon Networks (NASDAQ:CRNT) last announced its earnings results on Monday, August 7th. The communications equipment provider reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.01. Ceragon Networks had a net margin of 5.00% and a return on equity of 13.52%. The firm had revenue of $93.30 million for the quarter, compared to analyst estimates of $87.84 million. During the same quarter in the prior year, the business posted $0.02 EPS. The business’s revenue was up 33.3% compared to the same quarter last year. On average, analysts anticipate that Ceragon Networks will post $0.20 EPS for the current year.
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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