Ceragon Networks (NASDAQ:CRNT) Cut to “Hold” at StockNews.com

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

CRNT has been the subject of several other research reports. Craig Hallum initiated coverage on shares of Ceragon Networks in a research report on Thursday, March 13th. They issued a “buy” rating and a $5.00 price target for the company. Litchfield Hills Research initiated coverage on shares of Ceragon Networks in a research report on Tuesday, December 3rd. They issued a “buy” rating and a $10.00 price target for the company. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $6.00 price target on shares of Ceragon Networks in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Ceragon Networks presently has a consensus rating of “Buy” and an average target price of $6.38.

Ceragon Networks Trading Up 0.8 %

Shares of NASDAQ:CRNT opened at $2.53 on Thursday. The company has a market capitalization of $216.11 million, a PE ratio of 9.37 and a beta of 1.62. Ceragon Networks has a twelve month low of $2.33 and a twelve month high of $5.73. The firm has a 50 day simple moving average of $3.66 and a 200-day simple moving average of $3.49.

Hedge Funds Weigh In On Ceragon Networks

A number of large investors have recently bought and sold shares of CRNT. Penn Capital Management Company LLC purchased a new position in Ceragon Networks during the 4th quarter worth $54,000. Commonwealth Equity Services LLC purchased a new position in Ceragon Networks during the 4th quarter worth $58,000. Bravias Capital Group LLC purchased a new position in Ceragon Networks during the 4th quarter worth $71,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Ceragon Networks during the 4th quarter worth $81,000. Finally, Perigon Wealth Management LLC purchased a new position in Ceragon Networks during the 4th quarter worth $90,000. Hedge funds and other 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.