Ceragon Networks (NASDAQ:CRNT) Rating Lowered to Hold at StockNews.com

StockNews.com downgraded shares of Ceragon Networks (NASDAQ:CRNT) from a buy rating to a hold rating in a research note released on Thursday morning.

CRNT has been the topic of several other reports. Needham & Company LLC reiterated a “buy” rating and issued a $6.00 price objective on shares of Ceragon Networks in a research report on Wednesday, February 12th. Litchfield Hills Research started coverage on Ceragon Networks in a report on Tuesday, December 3rd. They set a “buy” rating and a $10.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Ceragon Networks presently has a consensus rating of “Buy” and an average target price of $6.83.

Ceragon Networks Price Performance

Shares of NASDAQ CRNT opened at $2.80 on Thursday. The firm has a market capitalization of $239.17 million, a PE ratio of 10.37 and a beta of 1.59. Ceragon Networks has a 1-year low of $2.33 and a 1-year high of $5.73. The business’s fifty day moving average price is $4.38 and its two-hundred day moving average price is $3.52.

Hedge Funds Weigh In On Ceragon Networks

A number of institutional investors and hedge funds have recently bought and sold shares of CRNT. Walleye Capital LLC lifted its stake in shares of Ceragon Networks by 95.1% in the 3rd quarter. Walleye Capital LLC now owns 283,933 shares of the communications equipment provider’s stock worth $778,000 after acquiring an additional 138,411 shares during the period. Inspire Investing LLC bought a new stake in Ceragon Networks during the fourth quarter worth approximately $903,000. JPMorgan Chase & Co. acquired a new stake in Ceragon Networks in the third quarter worth approximately $104,000. Perigon Wealth Management LLC bought a new position in Ceragon Networks during the 4th quarter valued at $90,000. Finally, State of New Jersey Common Pension Fund D acquired a new position in shares of Ceragon Networks during the 4th quarter valued at $182,000. Institutional investors own 13.31% of the company’s stock.

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.