StockNews.com Downgrades Ceragon Networks (NASDAQ:CRNT) to Hold

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

Other analysts have also issued reports about the stock. Craig Hallum began coverage on shares of Ceragon Networks in a research report on Thursday, March 13th. They set a “buy” rating and a $5.00 target price for the company. Needham & Company LLC reissued a “buy” rating and set a $6.00 price objective on shares of Ceragon Networks in a research report on Wednesday, February 12th. Finally, Litchfield Hills Research assumed coverage on Ceragon Networks in a report on Tuesday, December 3rd. They issued a “buy” rating and a $10.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $6.38.

Ceragon Networks Stock Performance

CRNT stock opened at $2.51 on Thursday. The business’s 50-day moving average is $3.71 and its two-hundred day moving average is $3.49. The company has a market cap of $214.40 million, a price-to-earnings ratio of 9.30 and a beta of 1.62. Ceragon Networks has a fifty-two week low of $2.33 and a fifty-two week high of $5.73.

Institutional Trading of Ceragon Networks

A number of hedge funds and other institutional investors have recently modified their holdings of CRNT. Hillsdale Investment Management Inc. boosted its holdings in Ceragon Networks by 3.9% in the 4th quarter. Hillsdale Investment Management Inc. now owns 80,800 shares of the communications equipment provider’s stock worth $377,000 after buying an additional 3,000 shares during the period. Algert Global LLC boosted its stake in shares of Ceragon Networks by 32.2% in the fourth quarter. Algert Global LLC now owns 46,454 shares of the communications equipment provider’s stock worth $217,000 after acquiring an additional 11,310 shares during the period. Penn Capital Management Company LLC purchased a new stake in shares of Ceragon Networks during the fourth quarter worth about $54,000. Commonwealth Equity Services LLC bought a new stake in Ceragon Networks during the 4th quarter valued at approximately $58,000. Finally, Sei Investments Co. lifted its holdings 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 worth $365,000 after purchasing an additional 13,909 shares in the last quarter. 13.31% of the stock is owned by hedge funds and other 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.