Ceragon Networks (CRNT) Stock Rating Lowered by ValuEngine
Other equities analysts have also recently issued reports about the company. Zacks Investment Research raised Ceragon Networks from a “hold” rating to a “buy” rating and set a $4.25 target price on the stock in a research note on Thursday, January 24th. BidaskClub raised Ceragon Networks from a “hold” rating to a “buy” rating in a research note on Tuesday, February 5th. Finally, TheStreet cut Ceragon Networks from a “b” rating to a “c+” rating in a research note on Friday, May 10th. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $4.66.
CRNT opened at $2.91 on Friday. Ceragon Networks has a 52-week low of $2.67 and a 52-week high of $5.04. The company has a market cap of $246.04 million, a PE ratio of 14.55, a price-to-earnings-growth ratio of 1.06 and a beta of 1.05.
A number of hedge funds have recently modified their holdings of CRNT. Two Sigma Investments LP grew its stake in Ceragon Networks by 168.0% in the fourth quarter. Two Sigma Investments LP now owns 621,055 shares of the communications equipment provider’s stock worth $2,348,000 after purchasing an additional 389,309 shares during the period. Renaissance Technologies LLC grew its stake in Ceragon Networks by 6.0% in the first quarter. Renaissance Technologies LLC now owns 4,295,100 shares of the communications equipment provider’s stock worth $15,419,000 after purchasing an additional 242,442 shares during the period. Deutsche Bank AG grew its stake in Ceragon Networks by 73.4% in the fourth quarter. Deutsche Bank AG now owns 393,939 shares of the communications equipment provider’s stock worth $1,489,000 after purchasing an additional 166,772 shares during the period. ClariVest Asset Management LLC purchased a new stake in Ceragon Networks in the fourth quarter worth $621,000. Finally, Two Sigma Advisers LP grew its stake in Ceragon Networks by 50.9% in the fourth quarter. Two Sigma Advisers LP now owns 453,600 shares of the communications equipment provider’s stock worth $1,715,000 after purchasing an additional 153,100 shares during the period. 24.32% of the stock is currently owned by institutional investors.
Ceragon Networks Company Profile
Ceragon Networks Ltd. provides wireless backhaul solutions that enable cellular operators and other wireless service providers to deliver voice and data services worldwide. Its wireless backhaul solutions use microwave and millimeter wave technology to transfer telecommunication traffic between base stations, small sells, and the core of the service provider's network.
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