Ceragon Networks (NASDAQ:CRNT) Coverage Initiated by Analysts at Craig Hallum

Craig Hallum initiated coverage on shares of Ceragon Networks (NASDAQ:CRNT) in a report issued on Thursday, Marketbeat Ratings reports. The firm issued a buy rating and a $5.00 price objective on the communications equipment provider’s stock.

A number of other analysts have also recently commented on CRNT. Needham & Company LLC restated a “buy” rating and set a $6.00 target price on shares of Ceragon Networks in a report on Wednesday, February 12th. Litchfield Hills Research initiated coverage on shares of Ceragon Networks in a report on Tuesday, December 3rd. They set a “buy” rating and a $10.00 target price on the stock. Finally, StockNews.com cut shares of Ceragon Networks from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Ceragon Networks currently has a consensus rating of “Buy” and an average price target of $6.38.

Ceragon Networks Stock Up 5.4 %

NASDAQ:CRNT opened at $2.73 on Thursday. The stock has a market cap of $233.19 million, a P/E ratio of 10.11 and a beta of 1.62. The firm’s fifty day simple moving average is $3.92 and its 200 day simple moving average is $3.50. Ceragon Networks has a twelve month low of $2.33 and a twelve month high of $5.73.

Hedge Funds Weigh In On Ceragon Networks

Several large investors have recently modified their holdings of the stock. Marshall Wace LLP raised its position in Ceragon Networks by 598.1% in the 4th quarter. Marshall Wace LLP now owns 703,091 shares of the communications equipment provider’s stock worth $3,283,000 after buying an additional 602,383 shares during the last quarter. Millennium Management LLC raised its position in Ceragon Networks by 123.9% in the 4th quarter. Millennium Management LLC now owns 962,898 shares of the communications equipment provider’s stock worth $4,497,000 after buying an additional 532,798 shares during the last quarter. Renaissance Technologies LLC raised its position in Ceragon Networks by 47.1% in the 4th quarter. Renaissance Technologies LLC now owns 1,333,295 shares of the communications equipment provider’s stock worth $6,226,000 after buying an additional 426,760 shares during the last quarter. Navellier & Associates Inc. purchased a new position in Ceragon Networks in the 4th quarter worth about $1,804,000. Finally, Two Sigma Investments LP raised its position in Ceragon Networks by 951.7% in the 4th quarter. Two Sigma Investments LP now owns 296,588 shares of the communications equipment provider’s stock worth $1,385,000 after buying an additional 268,388 shares during the last quarter. Hedge funds and other 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.