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

Ceragon Networks Ltd. (NASDAQ:CRNT) has been assigned an average recommendation of “Buy” from the five research firms that are covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $6.38.

Several equities analysts have recently issued reports on the stock. Craig Hallum started coverage on shares of Ceragon Networks in a research note on Thursday, March 13th. They issued a “buy” rating and a $5.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and issued a $6.00 price target on shares of Ceragon Networks in a research report on Wednesday, February 12th. Finally, StockNews.com raised Ceragon Networks from a “hold” rating to a “buy” rating in a report on Wednesday, April 9th.

Hedge Funds Weigh In On Ceragon Networks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Penn Capital Management Company LLC acquired a new position in Ceragon Networks during the fourth quarter valued at $54,000. Commonwealth Equity Services LLC acquired a new position in shares of Ceragon Networks in the 4th quarter valued at about $58,000. Bravias Capital Group LLC purchased a new stake in shares of Ceragon Networks in the fourth quarter worth approximately $71,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Ceragon Networks during the fourth quarter worth approximately $81,000. Finally, Perigon Wealth Management LLC acquired a new stake in shares of Ceragon Networks during the fourth quarter worth approximately $90,000. Institutional investors and hedge funds own 13.31% of the company’s stock.

Ceragon Networks Stock Up 1.9 %

Shares of CRNT stock opened at $2.10 on Monday. The stock has a 50-day simple moving average of $2.86 and a 200 day simple moving average of $3.44. The stock has a market capitalization of $186.56 million, a P/E ratio of 7.78 and a beta of 1.60. Ceragon Networks has a fifty-two week low of $1.95 and a fifty-two week high of $5.73.

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.