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

Roth Capital upgraded shares of Ceragon Networks (NASDAQ:CRNT) to a strong-buy rating in a research report sent to investors on Monday morning, Zacks.com reports. Roth Capital also issued estimates for Ceragon Networks’ Q3 2024 earnings at $0.09 EPS, Q4 2024 earnings at $0.10 EPS, FY2024 earnings at $0.31 EPS, Q1 2025 earnings at $0.06 EPS, Q2 2025 earnings at $0.08 EPS, Q3 2025 earnings at $0.11 EPS, Q4 2025 earnings at $0.14 EPS, FY2025 earnings at $0.40 EPS and FY2026 earnings at $0.50 EPS.

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

Ceragon Networks Stock Down 1.6 %

CRNT opened at $2.48 on Monday. The stock has a market cap of $211.84 million, a P/E ratio of 20.67 and a beta of 1.34. Ceragon Networks has a 52-week low of $1.62 and a 52-week high of $3.38. The business has a fifty day moving average of $2.70 and a 200 day moving average of $2.68.

Ceragon Networks (NASDAQ:CRNT) last issued its earnings results on Wednesday, August 7th. The communications equipment provider reported $0.10 EPS for the quarter. The business had revenue of $96.09 million for the quarter. Ceragon Networks had a net margin of 2.87% and a return on equity of 13.94%. Equities analysts anticipate that Ceragon Networks will post 0.24 EPS for the current fiscal year.

Institutional Trading of Ceragon Networks

Several large investors have recently bought and sold shares of the stock. Acadian Asset Management LLC raised its stake in shares of Ceragon Networks by 126.4% in 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 purchasing an additional 868,138 shares during the last quarter. Inspire Investing LLC acquired a new position in Ceragon Networks in the first quarter valued at approximately $884,000. Lazard Asset Management LLC grew its position in Ceragon Networks by 9,906.9% during the first 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. Cubist Systematic Strategies LLC acquired a new position in Ceragon Networks in the 2nd quarter worth about $56,000. Finally, WINTON GROUP Ltd acquired a new stake in Ceragon Networks in the 2nd quarter valued at $26,000. Hedge funds and other institutional investors own 13.31% of the company’s stock.

About Ceragon Networks

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.