Ceragon Networks (NASDAQ:CRNT) Upgraded at StockNews.com

StockNews.com upgraded shares of Ceragon Networks (NASDAQ:CRNT) from a hold rating to a buy rating in a report published on Wednesday.

Other analysts also recently issued research reports about the stock. Craig Hallum initiated coverage on shares of Ceragon Networks in a research note on Thursday, March 13th. They issued a “buy” rating and a $5.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and set a $6.00 price target on shares of Ceragon Networks in a research note on Wednesday, February 12th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $6.38.

Ceragon Networks Stock Performance

NASDAQ:CRNT opened at $2.10 on Wednesday. The stock’s fifty day moving average is $2.86 and its 200 day moving average is $3.43. The firm has a market capitalization of $186.56 million, a PE ratio of 7.78 and a beta of 1.60. Ceragon Networks has a fifty-two week low of $1.95 and a fifty-two week high of $5.73.

Hedge Funds Weigh In On Ceragon Networks

Hedge funds have recently added to or reduced their stakes in the stock. Penn Capital Management Company LLC bought a new stake in shares of Ceragon Networks during the fourth quarter valued at approximately $54,000. Commonwealth Equity Services LLC purchased a new position in Ceragon Networks during the 4th quarter worth $58,000. Bravias Capital Group LLC bought a new stake in Ceragon Networks during the 4th quarter valued at $71,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Ceragon Networks in the 4th quarter worth $81,000. Finally, Perigon Wealth Management LLC bought a new position in shares of Ceragon Networks during the 4th quarter worth $90,000. 13.31% of the stock is currently owned by institutional investors.

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.