Ceragon Networks’ (CRNT) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Ceragon Networks (NASDAQ:CRNT) in a research note published on Tuesday morning, Benzinga reports. The brokerage currently has a $5.25 target price on the communications equipment provider’s stock.

Separately, StockNews.com cut Ceragon Networks from a strong-buy rating to a buy rating in a report on Saturday, March 2nd.

Ceragon Networks Trading Down 12.1 %

NASDAQ CRNT opened at $2.77 on Tuesday. Ceragon Networks has a 12 month low of $1.56 and a 12 month high of $3.38. The stock has a market cap of $236.61 million, a PE ratio of 39.58 and a beta of 1.50. The stock’s 50 day moving average is $2.98 and its 200 day moving average is $2.46.

Ceragon Networks (NASDAQ:CRNT) last released its earnings results on Tuesday, February 20th. The communications equipment provider reported $0.03 EPS for the quarter, topping the consensus estimate of $0.02 by $0.01. The firm had revenue of $90.36 million for the quarter. Ceragon Networks had a net margin of 1.79% and a return on equity of 9.95%. During the same period last year, the firm posted ($0.01) EPS. On average, analysts forecast that Ceragon Networks will post 0.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Ceragon Networks

Several large investors have recently bought and sold shares of the business. Eagle Wealth Strategies LLC purchased a new position in shares of Ceragon Networks in the 1st quarter worth $31,000. Worth Venture Partners LLC grew its position in Ceragon Networks by 13.3% in the third quarter. Worth Venture Partners LLC now owns 74,097 shares of the communications equipment provider’s stock worth $152,000 after acquiring an additional 8,700 shares in the last quarter. Perritt Capital Management Inc. increased its stake in Ceragon Networks by 14.9% during the third quarter. Perritt Capital Management Inc. now owns 204,000 shares of the communications equipment provider’s stock worth $418,000 after acquiring an additional 26,500 shares during the last quarter. Inspire Investing LLC purchased a new stake in Ceragon Networks during the first quarter valued at approximately $884,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Ceragon Networks in the 3rd quarter valued at approximately $1,291,000. Institutional investors own 13.31% of the company’s stock.

About Ceragon Networks

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.