Shares of Ceragon Networks Ltd (NASDAQ:CRNT) have been given a consensus recommendation of “Hold” by the nine ratings firms that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $3.83.
CRNT has been the subject of a number of research reports. Oppenheimer set a $32.00 target price on Iovance Biotherapeutics and gave the company a “buy” rating in a research report on Wednesday, July 3rd. ValuEngine upgraded Zuora from a “hold” rating to a “buy” rating in a report on Saturday, July 6th. BidaskClub upgraded ZIX from a “buy” rating to a “strong-buy” rating in a report on Friday, May 3rd. TheStreet lowered USD Partners from a “b-” rating to a “c+” rating in a report on Friday, May 10th. Finally, Zacks Investment Research upgraded Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a report on Monday, July 8th.
CRNT stock traded down $0.05 during midday trading on Wednesday, hitting $2.52. The company’s stock had a trading volume of 10,700 shares, compared to its average volume of 438,665. Ceragon Networks has a 12 month low of $2.52 and a 12 month high of $5.04. The company has a market capitalization of $205.56 million, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 0.78 and a beta of 1.28. The business has a 50 day moving average price of $2.84.
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, hitting the Thomson Reuters’ consensus estimate of $0.03. Ceragon Networks had a return on equity of 9.63% and a net margin of 6.61%. The business had revenue of $69.16 million during the quarter, compared to the consensus estimate of $73.74 million. Research analysts anticipate that Ceragon Networks will post 0.22 earnings per share for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in CRNT. BlackRock Inc. increased its stake in Ceragon Networks by 34.4% in the fourth quarter. BlackRock Inc. now owns 130,328 shares of the communications equipment provider’s stock worth $493,000 after purchasing an additional 33,344 shares during the period. GSA Capital Partners LLP increased its stake in 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 worth $510,000 after purchasing an additional 14,900 shares during the period. Menta Capital LLC increased its stake in shares of Ceragon Networks by 24.5% during the fourth quarter. Menta Capital LLC now owns 317,172 shares of the communications equipment provider’s stock valued at $1,199,000 after buying an additional 62,467 shares during the period. Two Sigma Investments LP increased its stake in shares of Ceragon Networks by 168.0% during the fourth quarter. Two Sigma Investments LP now owns 621,055 shares of the communications equipment provider’s stock valued at $2,348,000 after buying an additional 389,309 shares during the period. Finally, Two Sigma Advisers LP increased its stake in shares of Ceragon Networks by 50.9% during the fourth quarter. Two Sigma Advisers LP now owns 453,600 shares of the communications equipment provider’s stock valued at $1,715,000 after buying an additional 153,100 shares during the period. Institutional investors and hedge funds own 20.83% of the company’s stock.
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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