Ceragon Networks (NASDAQ:CRNT) Earns “Buy” Rating from Needham & Company LLC

Ceragon Networks (NASDAQ:CRNT)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a report released on Wednesday,Benzinga reports. They presently have a $6.00 target price on the communications equipment provider’s stock, up from their prior target price of $4.50. Needham & Company LLC’s target price would suggest a potential upside of 41.84% from the stock’s previous close.

Other analysts also recently issued reports about the company. Roth Capital upgraded Ceragon Networks to a “strong-buy” rating in a research report on Monday, October 28th. Litchfield Hills Research started coverage on shares of Ceragon Networks in a report on Tuesday. They issued a “buy” rating and a $10.00 target price for the company. Finally, Roth Mkm assumed coverage on shares of Ceragon Networks in a report on Monday, October 28th. They set a “buy” rating and a $4.50 price target on the stock. Three equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $6.83.

Ceragon Networks Stock Down 3.2 %

Ceragon Networks stock opened at $4.23 on Wednesday. The company has a market cap of $361.32 million, a price-to-earnings ratio of 19.23 and a beta of 1.61. Ceragon Networks has a 52-week low of $1.82 and a 52-week high of $4.70. The firm’s fifty day moving average is $2.94 and its 200 day moving average is $2.77.

Institutional Trading of Ceragon Networks

A number of hedge funds and other institutional investors have recently bought and sold shares of CRNT. WINTON GROUP Ltd bought a new position in shares of Ceragon Networks in the second quarter worth about $26,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Ceragon Networks in the second quarter valued at approximately $56,000. Sei Investments Co. grew its stake in Ceragon Networks by 45.7% in the second quarter. Sei Investments Co. now owns 27,423 shares of the communications equipment provider’s stock worth $69,000 after purchasing an additional 8,607 shares in the last quarter. XTX Topco Ltd bought a new stake in Ceragon Networks during the 3rd quarter valued at $152,000. Finally, Walleye Capital LLC lifted its holdings in shares of Ceragon Networks by 95.1% in the 3rd quarter. Walleye Capital LLC now owns 283,933 shares of the communications equipment provider’s stock worth $778,000 after buying an additional 138,411 shares during the period. Hedge funds and other 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.