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

Ceragon Networks (NASDAQ:CRNT) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

A number of other equities analysts have also weighed in on the company. Needham & Company LLC reissued a “buy” rating and issued a $6.00 target price on shares of Ceragon Networks in a research report on Wednesday, February 12th. Litchfield Hills Research assumed coverage on shares of Ceragon Networks in a research note on Tuesday, December 3rd. They set a “buy” rating and a $10.00 target price for the company. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $6.83.

Ceragon Networks Trading Up 0.8 %

Ceragon Networks stock opened at $2.55 on Friday. The firm has a market cap of $217.82 million, a price-to-earnings ratio of 9.44 and a beta of 1.62. Ceragon Networks has a 12 month low of $2.33 and a 12 month high of $5.73. The stock has a fifty day simple moving average of $4.18 and a two-hundred day simple moving average of $3.52.

Institutional Trading of Ceragon Networks

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

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.