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

Ceragon Networks (NASDAQ:CRNT) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday.

Separately, Needham & Company LLC reaffirmed a “buy” rating and issued a $5.25 price objective on shares of Ceragon Networks in a research report on Tuesday, May 7th.

Ceragon Networks Price Performance

CRNT opened at $2.74 on Tuesday. The company’s 50-day moving average is $2.93 and its 200 day moving average is $2.54. Ceragon Networks has a fifty-two week low of $1.56 and a fifty-two week high of $3.38. The firm has a market capitalization of $234.05 million, a P/E ratio of 54.81 and a beta of 1.50.

Ceragon Networks (NASDAQ:CRNT) last announced its quarterly earnings data 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 business had revenue of $90.36 million for the quarter. Ceragon Networks had a net margin of 1.32% and a return on equity of 10.76%. During the same period in the prior year, the firm posted ($0.01) EPS. On average, equities research analysts expect that Ceragon Networks will post 0.18 earnings per share for the current year.

Institutional Trading of Ceragon Networks

Several hedge funds and other institutional investors have recently modified their holdings of the business. Kennedy Capital Management LLC bought a new stake in shares of Ceragon Networks in the first quarter valued at approximately $316,000. Perritt Capital Management Inc. raised its position in shares of Ceragon Networks by 6.7% in the first quarter. Perritt Capital Management Inc. now owns 217,600 shares of the communications equipment provider’s stock valued at $696,000 after purchasing an additional 13,600 shares during the period. Lazard Asset Management LLC raised its position in shares of Ceragon Networks by 9,906.9% in the first quarter. Lazard Asset Management LLC now owns 94,765 shares of the communications equipment provider’s stock valued at $303,000 after purchasing an additional 93,818 shares during the period. Acadian Asset Management LLC raised its position in shares of Ceragon Networks by 126.4% in the first quarter. Acadian Asset Management LLC now owns 1,555,000 shares of the communications equipment provider’s stock valued at $4,966,000 after purchasing an additional 868,138 shares during the period. Finally, Inspire Investing LLC bought a new stake in shares of Ceragon Networks in the first quarter valued at approximately $884,000. 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.