Ceragon Networks (NASDAQ:CRNT) Cut to Hold at StockNews.com

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

CRNT has been the topic of a number of other research reports. Needham & Company LLC reiterated a “buy” rating and issued a $6.00 price objective on shares of Ceragon Networks in a research report on Wednesday, February 12th. Litchfield Hills Research initiated coverage on Ceragon Networks in a report on Tuesday, December 3rd. They issued a “buy” rating and a $10.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $6.83.

Ceragon Networks Stock Performance

Shares of NASDAQ CRNT opened at $2.55 on Friday. Ceragon Networks has a fifty-two week low of $2.33 and a fifty-two week high of $5.73. The stock has a market cap of $217.82 million, a PE ratio of 9.44 and a beta of 1.62. The stock has a fifty day moving average of $4.18 and a 200-day moving average of $3.52.

Institutional Investors Weigh In On Ceragon Networks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Penn Capital Management Company LLC bought a new stake in shares of Ceragon Networks during the 4th quarter valued at $54,000. Commonwealth Equity Services LLC purchased a new position in Ceragon Networks during the 4th quarter valued at about $58,000. Bravias Capital Group LLC bought a new stake in Ceragon Networks during the fourth quarter worth about $71,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Ceragon Networks in the fourth quarter worth about $81,000. Finally, Perigon Wealth Management LLC bought a new position in shares of Ceragon Networks during the fourth quarter valued at approximately $90,000. 13.31% of the stock is owned by hedge funds and other institutional investors.

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.