Ceragon Networks (NASDAQ:CRNT) Upgraded to “Strong-Buy” by Roth Capital

Roth Capital upgraded shares of Ceragon Networks (NASDAQ:CRNT) to a strong-buy rating in a research note issued to investors on Monday morning, Zacks.com reports.

A number of other research firms also recently weighed in on CRNT. Roth Mkm assumed coverage on Ceragon Networks in a research report on Monday. They set a “buy” rating and a $4.50 target price for the company. Needham & Company LLC reiterated a “buy” rating and issued a $5.25 price objective on shares of Ceragon Networks in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Ceragon Networks presently has an average rating of “Strong Buy” and an average target price of $4.88.

Ceragon Networks Trading Up 4.5 %

Shares of Ceragon Networks stock opened at $2.58 on Monday. The company’s fifty day simple moving average is $2.71 and its 200-day simple moving average is $2.69. The company has a market cap of $220.38 million, a price-to-earnings ratio of 21.50 and a beta of 1.34. Ceragon Networks has a 1 year low of $1.62 and a 1 year high of $3.38.

Ceragon Networks (NASDAQ:CRNT) last issued its quarterly earnings data on Wednesday, August 7th. The communications equipment provider reported $0.10 earnings per share (EPS) for the quarter. Ceragon Networks had a return on equity of 13.94% and a net margin of 2.87%. The company had revenue of $96.09 million during the quarter. As a group, research analysts forecast that Ceragon Networks will post 0.24 earnings per share for the current fiscal year.

Institutional Trading of Ceragon Networks

Several hedge funds have recently added to or reduced their stakes in CRNT. Essex Investment Management Co. LLC raised its stake in Ceragon Networks by 1.6% in the 1st quarter. Essex Investment Management Co. LLC now owns 1,080,444 shares of the communications equipment provider’s stock worth $3,457,000 after purchasing an additional 16,630 shares in the last quarter. Inspire Investing LLC acquired a new position in Ceragon Networks in the first quarter valued at about $884,000. Acadian Asset Management LLC grew its stake in Ceragon Networks by 126.4% during the first quarter. Acadian Asset Management LLC now owns 1,555,000 shares of the communications equipment provider’s stock worth $4,966,000 after buying an additional 868,138 shares in the last quarter. Lazard Asset Management LLC increased its holdings in Ceragon Networks by 9,906.9% in the 1st quarter. Lazard Asset Management LLC now owns 94,765 shares of the communications equipment provider’s stock valued at $303,000 after buying an additional 93,818 shares during the period. Finally, Perritt Capital Management Inc. lifted its holdings in shares of Ceragon Networks by 6.7% during the 1st quarter. Perritt Capital Management Inc. now owns 217,600 shares of the communications equipment provider’s stock worth $696,000 after acquiring an additional 13,600 shares during the period. 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.