A number of other research firms also recently weighed in on CRNT. Zacks Investment Research upgraded Ceragon Networks from a hold rating to a buy rating and set a $4.25 price target for the company in a research note on Thursday, January 24th. BidaskClub downgraded Ceragon Networks from a hold rating to a sell rating in a research note on Tuesday, March 19th. Finally, TheStreet downgraded Ceragon Networks from a b rating to a c+ rating in a research note on Friday, May 10th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $4.66.
CRNT stock opened at $2.82 on Friday. The company has a market capitalization of $226.00 million, a price-to-earnings ratio of 14.10, a P/E/G ratio of 0.99 and a beta of 1.05. Ceragon Networks has a twelve month low of $2.67 and a twelve month high of $5.04.
Ceragon Networks (NASDAQ:CRNT) last posted its quarterly earnings results on Monday, May 6th. The communications equipment provider reported $0.03 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.03. The firm had revenue of $69.16 million during the quarter, compared to the consensus estimate of $73.74 million. Ceragon Networks had a return on equity of 9.63% and a net margin of 6.61%. On average, equities research analysts predict that Ceragon Networks will post 0.19 EPS for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Harvest Management LLC lifted its position in shares of Ceragon Networks by 5.8% in the fourth quarter. Harvest Management LLC now owns 58,200 shares of the communications equipment provider’s stock valued at $220,000 after buying an additional 3,200 shares during the last quarter. Seelaus Asset Management LLC acquired a new stake in shares of Ceragon Networks in the first quarter valued at approximately $36,000. AJO LP lifted its position in shares of Ceragon Networks by 2.0% in the first quarter. AJO LP now owns 693,898 shares of the communications equipment provider’s stock valued at $2,491,000 after buying an additional 13,282 shares during the last quarter. New York State Common Retirement Fund lifted its position in shares of Ceragon Networks by 12.0% in the first quarter. New York State Common Retirement Fund now owns 129,562 shares of the communications equipment provider’s stock valued at $465,000 after buying an additional 13,903 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its position in shares of Ceragon Networks by 12.4% in the fourth quarter. GSA Capital Partners LLP now owns 134,911 shares of the communications equipment provider’s stock valued at $510,000 after buying an additional 14,900 shares during the last quarter. 24.32% of the stock is owned by institutional investors.
Ceragon Networks Company Profile
Ceragon Networks Ltd. provides wireless backhaul solutions that enable cellular operators and other wireless service providers to deliver voice and data services worldwide. Its wireless backhaul solutions use microwave and millimeter wave technology to transfer telecommunication traffic between base stations, small sells, and the core of the service provider's network.
Further Reading: Debt-To-Equity Ratio
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