Ceragon Networks Ltd (CRNT) Given Average Recommendation of “Hold” by Brokerages

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Shares of Ceragon Networks Ltd (NASDAQ:CRNT) have earned a consensus recommendation of “Hold” from the nine brokerages that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $4.75.

A number of analysts have issued reports on the company. TheStreet lowered Ceragon Networks from a “b” rating to a “c+” rating in a report on Friday, May 10th. Zacks Investment Research lowered Ceragon Networks from a “hold” rating to a “sell” rating in a report on Friday, May 10th. ValuEngine lowered Ceragon Networks from a “buy” rating to a “hold” rating in a report on Friday. Finally, BidaskClub raised Ceragon Networks from a “sell” rating to a “hold” rating in a report on Thursday, April 11th.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Seelaus Asset Management LLC acquired a new stake in Ceragon Networks in the 1st quarter valued at approximately $36,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Ceragon Networks in the 1st quarter valued at approximately $54,000. Penserra Capital Management LLC bought a new stake in shares of Ceragon Networks in the 1st quarter worth approximately $61,000. State of Tennessee Treasury Department lifted its position in shares of Ceragon Networks by 163.2% in the 1st quarter. State of Tennessee Treasury Department now owns 42,554 shares of the communications equipment provider’s stock worth $153,000 after acquiring an additional 26,388 shares during the period. Finally, Delek Group Ltd. bought a new stake in shares of Ceragon Networks in the 1st quarter worth approximately $186,000. 24.32% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ CRNT opened at $2.92 on Tuesday. The stock has a market cap of $226.00 million, a PE ratio of 14.60, a P/E/G ratio of 0.99 and a beta of 1.05. Ceragon Networks has a 52 week low of $2.67 and a 52 week high of $5.04.

Ceragon Networks (NASDAQ:CRNT) last issued its quarterly earnings data on Monday, May 6th. The communications equipment provider reported $0.03 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.03. The business had revenue of $69.16 million for the quarter, compared to analyst estimates of $73.74 million. Ceragon Networks had a return on equity of 9.63% and a net margin of 6.61%. Analysts expect that Ceragon Networks will post 0.19 earnings per share for the current year.

About Ceragon Networks

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.

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Analyst Recommendations for Ceragon Networks (NASDAQ:CRNT)

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