Ceragon Networks (NASDAQ:CRNT) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Tuesday.

Other research analysts have also issued research reports about the company. Zacks Investment Research raised Ceragon Networks from a “hold” rating to a “buy” rating and set a $2.50 price objective for the company in a research report on Wednesday, August 9th. Oppenheimer reaffirmed a “hold” rating on shares of Ceragon Networks in a research report on Tuesday, August 8th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $2.50 price objective on shares of Ceragon Networks in a research report on Sunday, October 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $2.50.

Shares of Ceragon Networks (CRNT) traded up $0.15 during trading hours on Tuesday, hitting $2.24. The stock had a trading volume of 1,678,033 shares, compared to its average volume of 538,952. Ceragon Networks has a 12-month low of $1.64 and a 12-month high of $4.23. The company has a market cap of $147.11, a price-to-earnings ratio of 9.45 and a beta of 1.07.

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

Hedge funds have recently bought and sold shares of the stock. Parametric Portfolio Associates LLC increased its position in Ceragon Networks by 51.8% during the 1st quarter. Parametric Portfolio Associates LLC now owns 47,722 shares of the communications equipment provider’s stock valued at $156,000 after buying an additional 16,294 shares in the last quarter. State of New Jersey Common Pension Fund D increased its position in Ceragon Networks by 64.6% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 60,871 shares of the communications equipment provider’s stock valued at $155,000 after buying an additional 23,880 shares in the last quarter. State Street Corp boosted its stake in Ceragon Networks by 1.6% during the 2nd quarter. State Street Corp now owns 76,592 shares of the communications equipment provider’s stock valued at $195,000 after purchasing an additional 1,205 shares during the last quarter. Spark Investment Management LLC purchased a new stake in Ceragon Networks during the 2nd quarter valued at $305,000. Finally, Renaissance Group LLC boosted its stake in Ceragon Networks by 10.9% during the 2nd quarter. Renaissance Group LLC now owns 121,151 shares of the communications equipment provider’s stock valued at $309,000 after purchasing an additional 11,940 shares during the last quarter. 16.11% of the stock is owned by institutional investors.

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About Ceragon Networks

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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