Ceragon Networks (NASDAQ:CRNT) Lowered to “Buy” Rating by StockNews.com

StockNews.com cut shares of Ceragon Networks (NASDAQ:CRNT) from a strong-buy rating to a buy rating in a research report released on Thursday.

CRNT has been the subject of a number of other research reports. Roth Mkm initiated coverage on Ceragon Networks in a research note on Monday, October 28th. They issued a “buy” rating and a $4.50 price objective for the company. Needham & Company LLC restated a “buy” rating and set a $6.00 price target on shares of Ceragon Networks in a research report on Wednesday. Roth Capital upgraded shares of Ceragon Networks to a “strong-buy” rating in a report on Monday, October 28th. Finally, Litchfield Hills Research assumed coverage on shares of Ceragon Networks in a research note on Tuesday, December 3rd. They issued a “buy” rating and a $10.00 target price on the stock. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Ceragon Networks presently has an average rating of “Buy” and a consensus price target of $6.83.

Ceragon Networks Stock Up 0.6 %

Shares of NASDAQ CRNT opened at $3.54 on Thursday. The company has a market capitalization of $302.39 million, a PE ratio of 16.09 and a beta of 1.59. The stock’s 50 day moving average price is $4.67 and its 200-day moving average price is $3.49. Ceragon Networks has a twelve month low of $2.33 and a twelve month high of $5.73.

Institutional Investors Weigh In On Ceragon Networks

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRNT. Hillsdale Investment Management Inc. increased its stake in shares of Ceragon Networks by 3.9% in the fourth quarter. Hillsdale Investment Management Inc. now owns 80,800 shares of the communications equipment provider’s stock worth $377,000 after purchasing an additional 3,000 shares in the last quarter. Commonwealth Equity Services LLC purchased a new position in Ceragon Networks in the 4th quarter valued at approximately $58,000. Sei Investments Co. grew its stake in Ceragon Networks by 21.6% in the 4th quarter. Sei Investments Co. now owns 78,180 shares of the communications equipment provider’s stock valued at $365,000 after buying an additional 13,909 shares in the last quarter. Bravias Capital Group LLC bought a new stake in Ceragon Networks during the 4th quarter valued at $71,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Ceragon Networks during the fourth quarter worth $81,000. 13.31% of the stock is currently owned by institutional investors.

Ceragon Networks Company Profile

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.