Ceragon Networks (NASDAQ:CRNT) Coverage Initiated at Litchfield Hills Research

Equities researchers at Litchfield Hills Research initiated coverage on shares of Ceragon Networks (NASDAQ:CRNT) in a note issued to investors on Tuesday,Benzinga reports. The firm set a “buy” rating and a $10.00 price target on the communications equipment provider’s stock. Litchfield Hills Research’s target price suggests a potential upside of 128.83% from the stock’s current price.

Several other analysts have also weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $5.25 price objective on shares of Ceragon Networks in a research note on Thursday, August 8th. Roth Mkm started coverage on Ceragon Networks in a research note on Monday, October 28th. They set a “buy” rating and a $4.50 price target on the stock. Finally, Roth Capital raised Ceragon Networks to a “strong-buy” rating in a research note on Monday, October 28th. Three equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Ceragon Networks presently has an average rating of “Buy” and a consensus target price of $6.83.

Ceragon Networks Stock Down 0.5 %

NASDAQ:CRNT opened at $4.37 on Tuesday. The stock’s 50-day simple moving average is $2.90 and its 200 day simple moving average is $2.76. The firm has a market capitalization of $373.29 million, a PE ratio of 19.86 and a beta of 1.61. Ceragon Networks has a twelve month low of $1.80 and a twelve month high of $4.70.

Institutional Trading of Ceragon Networks

A number of hedge funds have recently made changes to their positions in CRNT. Acadian Asset Management LLC raised its position in shares of Ceragon Networks by 25.7% during the second quarter. Acadian Asset Management LLC now owns 1,955,161 shares of the communications equipment provider’s stock worth $4,878,000 after acquiring an additional 400,161 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Ceragon Networks during the second quarter worth about $56,000. WINTON GROUP Ltd bought a new position in shares of Ceragon Networks during the second quarter worth about $26,000. Sei Investments Co. raised its position in shares of Ceragon Networks by 45.7% during the second quarter. Sei Investments Co. now owns 27,423 shares of the communications equipment provider’s stock worth $69,000 after acquiring an additional 8,607 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Ceragon Networks by 35.4% during the second quarter. Renaissance Technologies LLC now owns 643,816 shares of the communications equipment provider’s stock worth $1,610,000 after acquiring an additional 168,416 shares during the last quarter. 13.31% of the stock is owned by institutional investors and hedge funds.

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.