StockNews.com Downgrades Ceragon Networks (NASDAQ:CRNT) to Buy

Ceragon Networks (NASDAQ:CRNT) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Thursday.

CRNT has been the subject of a number of other reports. Needham & Company LLC reiterated a “buy” rating and issued a $6.00 price objective on shares of Ceragon Networks in a report on Wednesday. Litchfield Hills Research assumed coverage on shares of Ceragon Networks in a report on Tuesday, December 3rd. They issued a “buy” rating and a $10.00 price objective for the company. Roth Capital upgraded shares of Ceragon Networks to a “strong-buy” rating in a report on Monday, October 28th. Finally, Roth Mkm began coverage on shares of Ceragon Networks in a report on Monday, October 28th. They set a “buy” rating and a $4.50 price target for the company. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Ceragon Networks currently has a consensus rating of “Buy” and an average target price of $6.83.

Ceragon Networks Trading Down 2.3 %

Shares of NASDAQ:CRNT opened at $3.46 on Thursday. The stock has a market capitalization of $295.55 million, a PE ratio of 15.73 and a beta of 1.59. Ceragon Networks has a 1 year low of $2.33 and a 1 year high of $5.73. The firm has a fifty day moving average price of $4.65 and a 200 day moving average price of $3.50.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC increased its holdings in shares of Ceragon Networks by 47.1% during the fourth quarter. Renaissance Technologies LLC now owns 1,333,295 shares of the communications equipment provider’s stock worth $6,226,000 after buying an additional 426,760 shares in the last quarter. Marshall Wace LLP boosted its position in shares of Ceragon Networks by 598.1% during the fourth quarter. Marshall Wace LLP now owns 703,091 shares of the communications equipment provider’s stock worth $3,283,000 after purchasing an additional 602,383 shares in the last quarter. Navellier & Associates Inc. bought a new position in shares of Ceragon Networks during the fourth quarter worth $1,804,000. Walleye Capital LLC boosted its position in shares of Ceragon Networks by 95.1% during the third quarter. Walleye Capital LLC now owns 283,933 shares of the communications equipment provider’s stock worth $778,000 after purchasing an additional 138,411 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Ceragon Networks by 481.7% during the fourth quarter. JPMorgan Chase & Co. now owns 221,539 shares of the communications equipment provider’s stock worth $1,035,000 after acquiring an additional 183,452 shares during the period. 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.