Ceragon Networks (NASDAQ:CRNT) Given “Buy” Rating at Aegis

Aegis restated their buy rating on shares of Ceragon Networks (NASDAQ:CRNT) in a research report released on Tuesday morning, PriceTargets.com reports. Aegis also issued estimates for Ceragon Networks’ FY2024 earnings at $0.19 EPS.

Several other brokerages have also issued reports on CRNT. Needham & Company LLC reiterated a buy rating and issued a $5.25 target price on shares of Ceragon Networks in a research report on Wednesday, August 2nd. StockNews.com assumed coverage on shares of Ceragon Networks in a research report on Thursday, August 17th. They issued a buy rating on the stock.

Ceragon Networks Stock Performance

CRNT stock opened at $1.91 on Tuesday. The firm has a market cap of $160.96 million, a PE ratio of 18.40 and a beta of 1.40. The firm’s fifty day moving average is $2.02 and its 200 day moving average is $1.89. Ceragon Networks has a one year low of $1.55 and a one year high of $2.38.

Ceragon Networks (NASDAQ:CRNT) last released its quarterly earnings results on Tuesday, August 1st. The communications equipment provider reported $0.04 EPS for the quarter. The company had revenue of $86.15 million for the quarter. Ceragon Networks had a net margin of 0.14% and a return on equity of 6.23%.

Hedge Funds Weigh In On Ceragon Networks

Institutional investors and hedge funds have recently bought and sold shares of the business. Jane Street Group LLC acquired a new position in Ceragon Networks during the first quarter worth about $25,000. Verition Fund Management LLC acquired a new position in Ceragon Networks during the fourth quarter worth about $25,000. Susquehanna International Group LLP acquired a new position in Ceragon Networks during the first quarter worth about $25,000. Tower Research Capital LLC TRC raised its stake in Ceragon Networks by 8,127.0% during the third quarter. Tower Research Capital LLC TRC now owns 16,454 shares of the communications equipment provider’s stock worth $30,000 after purchasing an additional 16,254 shares during the period. Finally, Ten Capital Wealth Advisors LLC purchased a new position in Ceragon Networks during the second quarter worth about $37,000. 13.77% of the stock is currently owned by institutional investors and hedge funds.

Ceragon Networks Company Profile

Ceragon Networks Ltd. provides wireless transport solutions for cellular operators and other wireless service providers. Its solutions use microwave and millimeter wave radio technology to transfer telecommunication traffic between base stations, small/distributed cells, and service provider's network.