Ceragon Networks’ (CRNT) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Ceragon Networks (NASDAQ:CRNT) in a report released on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a $6.00 price objective on the communications equipment provider’s stock.

Several other research firms have also issued reports on CRNT. Roth Capital upgraded shares of Ceragon Networks to a “strong-buy” rating in a report on Monday, October 28th. Litchfield Hills Research initiated coverage on shares of Ceragon Networks in a report on Tuesday, December 3rd. They issued a “buy” rating and a $10.00 target price for the company. Finally, Roth Mkm initiated coverage on shares of Ceragon Networks in a report on Monday, October 28th. They issued a “buy” rating and a $4.50 target price for the company. Three equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Ceragon Networks presently has a consensus rating of “Buy” and a consensus price target of $6.83.

Ceragon Networks Stock Down 6.6 %

Shares of NASDAQ:CRNT opened at $3.52 on Wednesday. Ceragon Networks has a 52 week low of $2.33 and a 52 week high of $5.73. The stock has a market capitalization of $300.68 million, a P/E ratio of 16.00 and a beta of 1.59. The firm has a fifty day simple moving average of $4.68 and a two-hundred day simple moving average of $3.49.

Institutional Investors Weigh In On Ceragon Networks

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Walleye Capital LLC lifted its holdings in Ceragon Networks by 95.1% during the 3rd quarter. Walleye Capital LLC now owns 283,933 shares of the communications equipment provider’s stock valued at $778,000 after buying an additional 138,411 shares in the last quarter. Inspire Investing LLC bought a new stake in Ceragon Networks during the 4th quarter valued at about $903,000. JPMorgan Chase & Co. bought a new stake in Ceragon Networks during the 3rd quarter valued at about $104,000. Perigon Wealth Management LLC bought a new stake in Ceragon Networks during the 4th quarter valued at about $90,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Ceragon Networks during the 2nd quarter valued at about $56,000. Institutional investors own 13.31% of the company’s stock.

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.