Ceragon Networks (NASDAQ:CRNT) Lowered to “Hold” Rating by StockNews.com

Ceragon Networks (NASDAQ:CRNT) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

Other equities analysts have also issued research reports about the stock. Craig Hallum started 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 restated a “buy” rating and issued a $6.00 target price on shares of Ceragon Networks in a report on Wednesday, February 12th. Finally, Litchfield Hills Research initiated coverage on Ceragon Networks in a report on Tuesday, December 3rd. They set a “buy” rating and a $10.00 price target on the stock. 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 stock. According to MarketBeat, Ceragon Networks currently has an average rating of “Buy” and a consensus target price of $6.38.

Ceragon Networks Stock Performance

CRNT stock opened at $2.58 on Thursday. Ceragon Networks has a one year low of $2.33 and a one year high of $5.73. The firm has a 50-day moving average of $3.75 and a two-hundred day moving average of $3.50. The firm has a market capitalization of $220.38 million, a PE ratio of 9.56 and a beta of 1.62.

Institutional Investors Weigh In On Ceragon Networks

Institutional investors have recently modified their holdings of the stock. Marshall Wace LLP increased its stake in shares of Ceragon Networks by 598.1% in the fourth quarter. Marshall Wace LLP now owns 703,091 shares of the communications equipment provider’s stock worth $3,283,000 after acquiring an additional 602,383 shares during the last quarter. Millennium Management LLC grew its stake in Ceragon Networks by 123.9% in the fourth quarter. Millennium Management LLC now owns 962,898 shares of the communications equipment provider’s stock valued at $4,497,000 after purchasing an additional 532,798 shares in the last quarter. Renaissance Technologies LLC increased 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 purchasing an additional 426,760 shares during the last quarter. Navellier & Associates Inc. purchased a new stake in shares of Ceragon Networks during the 4th quarter worth about $1,804,000. Finally, Two Sigma Investments LP lifted its holdings in shares of Ceragon Networks by 951.7% during the 4th quarter. Two Sigma Investments LP now owns 296,588 shares of the communications equipment provider’s stock valued at $1,385,000 after buying an additional 268,388 shares during the last quarter. Institutional investors and hedge funds 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.