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

Ceragon Networks (NASDAQ:CRNT)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports. They currently have a $6.00 price objective on the communications equipment provider’s stock. Needham & Company LLC’s price target points to a potential upside of 33.63% from the stock’s previous close.

CRNT has been the topic of a number of other research reports. Roth Capital raised shares of Ceragon Networks to a “strong-buy” rating in a research report on Monday, October 28th. 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 target on the stock. Finally, Roth Mkm initiated coverage on Ceragon Networks in a research report on Monday, October 28th. They set a “buy” rating and a $4.50 price target on the stock. Three research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Ceragon Networks currently has an average rating of “Buy” and a consensus target price of $6.83.

Ceragon Networks Price Performance

Shares of CRNT stock opened at $4.49 on Thursday. The stock’s 50-day moving average is $4.28 and its 200 day moving average is $3.23. Ceragon Networks has a 1-year low of $2.33 and a 1-year high of $5.73. The company has a market cap of $383.53 million, a P/E ratio of 20.41 and a beta of 1.60.

Institutional Trading of Ceragon Networks

A number of institutional investors have recently bought and sold shares of the stock. Inspire Investing LLC purchased a new position in shares of Ceragon Networks in the fourth quarter worth $903,000. JPMorgan Chase & Co. acquired a new position in shares of Ceragon Networks in the 3rd quarter valued at $104,000. XTX Topco Ltd purchased a new position in Ceragon Networks in the 3rd quarter worth $152,000. Walleye Capital LLC raised its stake in 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 acquiring an additional 138,411 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in Ceragon Networks during the 2nd quarter valued at about $56,000. 13.31% of the stock is currently owned by institutional investors and hedge funds.

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.