Ceragon Networks (NASDAQ:CRNT) Stock Rating Lowered by StockNews.com

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

A number of other research firms also recently commented on CRNT. Needham & Company LLC reiterated 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 started coverage on Ceragon Networks in a report on Tuesday, December 3rd. They set a “buy” rating and a $10.00 price objective on the stock. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $6.83.

Ceragon Networks Stock Performance

Shares of NASDAQ CRNT opened at $2.41 on Friday. The firm’s fifty day moving average is $4.13 and its two-hundred day moving average is $3.52. Ceragon Networks has a 52-week low of $2.33 and a 52-week high of $5.73. The company has a market cap of $205.86 million, a P/E ratio of 8.93 and a beta of 1.62.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hillsdale Investment Management Inc. raised its position in Ceragon Networks by 3.9% during the fourth quarter. Hillsdale Investment Management Inc. now owns 80,800 shares of the communications equipment provider’s stock valued at $377,000 after purchasing an additional 3,000 shares during the period. Algert Global LLC raised its holdings in Ceragon Networks by 32.2% during the 4th quarter. Algert Global LLC now owns 46,454 shares of the communications equipment provider’s stock valued at $217,000 after buying an additional 11,310 shares during the period. Penn Capital Management Company LLC purchased a new stake in Ceragon Networks during the 4th quarter valued at $54,000. Commonwealth Equity Services LLC bought a new stake in Ceragon Networks in the fourth quarter worth $58,000. Finally, Sei Investments Co. boosted its stake in Ceragon Networks by 21.6% during the fourth quarter. Sei Investments Co. now owns 78,180 shares of the communications equipment provider’s stock worth $365,000 after buying an additional 13,909 shares during the period. 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.