Ceragon Networks’ (CRNT) Buy Rating Reaffirmed at Needham & Company LLC

Ceragon Networks (NASDAQ:CRNT)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a note issued to investors on Wednesday,Benzinga reports. They presently have a $6.00 price target on the communications equipment provider’s stock. Needham & Company LLC’s target price would indicate a potential upside of 69.49% from the company’s current price.

A number of other analysts have also issued reports on CRNT. Roth Mkm began coverage on Ceragon Networks in a report on Monday, October 28th. They issued a “buy” rating and a $4.50 target price for the company. Roth Capital upgraded Ceragon Networks to a “strong-buy” rating in a report on Monday, October 28th. Finally, Litchfield Hills Research began coverage on Ceragon Networks in a report on Tuesday, December 3rd. They set a “buy” rating and a $10.00 price objective for the company. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Ceragon Networks presently has a consensus rating of “Buy” and an average target price of $6.83.

Ceragon Networks Stock Up 0.6 %

CRNT opened at $3.54 on Wednesday. The stock has a fifty day moving average of $4.67 and a 200-day moving average of $3.49. The firm has a market capitalization of $302.39 million, a P/E ratio of 16.09 and a beta of 1.59. Ceragon Networks has a 12-month low of $2.33 and a 12-month high of $5.73.

Hedge Funds Weigh In On Ceragon Networks

Several hedge funds have recently bought and sold shares of the business. Marshall Wace LLP increased its position in Ceragon Networks by 598.1% during the fourth 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. NewEdge Advisors LLC increased its position in Ceragon Networks by 90.2% during the fourth quarter. NewEdge Advisors LLC now owns 45,757 shares of the communications equipment provider’s stock worth $214,000 after buying an additional 21,695 shares during the last quarter. EAM Global Investors LLC acquired a new stake in shares of Ceragon Networks in the fourth quarter valued at about $468,000. CreativeOne Wealth LLC acquired a new stake in shares of Ceragon Networks in the fourth quarter valued at about $172,000. Finally, WealthTrust Axiom LLC grew its position in shares of Ceragon Networks by 61.7% in the fourth quarter. WealthTrust Axiom LLC now owns 178,150 shares of the communications equipment provider’s stock valued at $832,000 after purchasing an additional 68,000 shares during the last quarter. 13.31% of the stock is owned by institutional investors and hedge funds.

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.