Ceragon Networks Ltd. (NASDAQ:CRNT) Receives $6.38 Average Price Target from Analysts

Shares of Ceragon Networks Ltd. (NASDAQ:CRNT) have earned a consensus recommendation of “Buy” from the five ratings firms that are currently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $6.38.

Several brokerages recently weighed in on CRNT. Craig Hallum began coverage on Ceragon Networks in a research report on Thursday, March 13th. They set a “buy” rating and a $5.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $6.00 target price on shares of Ceragon Networks in a report on Wednesday, February 12th. StockNews.com cut Ceragon Networks from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Finally, Litchfield Hills Research began coverage on Ceragon Networks in a report on Tuesday, December 3rd. They issued a “buy” rating and a $10.00 target price for the company.

Ceragon Networks Stock Performance

NASDAQ:CRNT opened at $2.62 on Thursday. The stock has a fifty day moving average price of $3.86 and a 200-day moving average price of $3.50. The company has a market cap of $223.80 million, a price-to-earnings ratio of 9.70 and a beta of 1.62. Ceragon Networks has a fifty-two week low of $2.33 and a fifty-two week high of $5.73.

Hedge Funds Weigh In On Ceragon Networks

A number of institutional investors and hedge funds have recently bought and sold shares of CRNT. Penn Capital Management Company LLC acquired a new stake in shares of Ceragon Networks in the fourth quarter valued at about $54,000. Commonwealth Equity Services LLC acquired a new stake in shares of Ceragon Networks in the fourth quarter valued at about $58,000. Bravias Capital Group LLC acquired a new stake in shares of Ceragon Networks in the fourth quarter valued at about $71,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Ceragon Networks in the fourth quarter valued at about $81,000. Finally, Perigon Wealth Management LLC acquired a new stake in shares of Ceragon Networks in the fourth quarter valued at about $90,000. Institutional investors and hedge funds 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.