Needham & Company LLC Reaffirms Buy Rating for Ceragon Networks (NASDAQ:CRNT)

Ceragon Networks (NASDAQ:CRNT)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a report issued on Wednesday,Benzinga reports. They presently have a $6.00 price objective on the communications equipment provider’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 69.49% from the stock’s current price.

A number of other equities analysts have also issued reports on the company. Litchfield Hills Research began coverage on Ceragon Networks in a research note on Tuesday, December 3rd. They set a “buy” rating and a $10.00 price target for the company. Roth Mkm began coverage on Ceragon Networks in a research note on Monday, October 28th. They set a “buy” rating and a $4.50 price target for the company. Finally, Roth Capital raised Ceragon Networks to a “strong-buy” rating in a research note on Monday, October 28th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $6.83.

Ceragon Networks Price Performance

Shares of CRNT stock opened at $3.54 on Wednesday. The business has a 50 day simple moving average of $4.67 and a 200 day simple moving average of $3.49. The firm has a market capitalization of $302.39 million, a price-to-earnings ratio of 16.09 and a beta of 1.59. Ceragon Networks has a 12-month low of $2.33 and a 12-month high of $5.73.

Institutional Investors Weigh In On Ceragon Networks

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Marshall Wace LLP lifted its position in shares of Ceragon Networks by 598.1% during the 4th quarter. Marshall Wace LLP now owns 703,091 shares of the communications equipment provider’s stock valued at $3,283,000 after acquiring an additional 602,383 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of Ceragon Networks by 90.2% during the 4th quarter. NewEdge Advisors LLC now owns 45,757 shares of the communications equipment provider’s stock valued at $214,000 after acquiring an additional 21,695 shares during the last quarter. EAM Global Investors LLC acquired a new stake in shares of Ceragon Networks during the 4th quarter valued at $468,000. CreativeOne Wealth LLC acquired a new stake in shares of Ceragon Networks during the 4th quarter valued at $172,000. Finally, WealthTrust Axiom LLC lifted its position in shares of Ceragon Networks by 61.7% during the 4th quarter. WealthTrust Axiom LLC now owns 178,150 shares of the communications equipment provider’s stock valued at $832,000 after acquiring an additional 68,000 shares during the last quarter. Institutional investors and hedge funds 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.