Ceragon Networks (NASDAQ:CRNT) Upgraded by StockNews.com to Strong-Buy

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

Separately, Needham & Company LLC reaffirmed a “buy” rating and set a $5.25 target price on shares of Ceragon Networks in a report on Tuesday.

Ceragon Networks Trading Up 0.7 %

NASDAQ CRNT traded up $0.02 during mid-day trading on Thursday, reaching $2.86. 332,440 shares of the company’s stock traded hands, compared to its average volume of 586,986. Ceragon Networks has a 1-year low of $1.56 and a 1-year high of $3.38. The company has a fifty day simple moving average of $2.98 and a 200-day simple moving average of $2.46. The company has a market cap of $244.30 million, a price-to-earnings ratio of 40.86 and a beta of 1.50.

Ceragon Networks (NASDAQ:CRNT) last issued its quarterly earnings data on Tuesday, February 20th. The communications equipment provider reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. Ceragon Networks had a return on equity of 9.95% and a net margin of 1.79%. The firm had revenue of $90.36 million during the quarter. During the same quarter last year, the business earned ($0.01) EPS. Equities research analysts forecast that Ceragon Networks will post 0.18 earnings per share for the current fiscal year.

Institutional Trading of Ceragon Networks

Several hedge funds have recently made changes to their positions in the stock. Inspire Investing LLC bought a new stake in shares of Ceragon Networks in the 1st quarter worth approximately $884,000. Essex Investment Management Co. LLC lifted its holdings in shares of Ceragon Networks by 1.6% in the 1st quarter. Essex Investment Management Co. LLC now owns 1,080,444 shares of the communications equipment provider’s stock worth $3,457,000 after purchasing an additional 16,630 shares during the last quarter. Eagle Wealth Strategies LLC bought a new stake in shares of Ceragon Networks in the 1st quarter worth approximately $31,000. First Wilshire Securities Management Inc. lifted its holdings in shares of Ceragon Networks by 1.0% in the 4th quarter. First Wilshire Securities Management Inc. now owns 3,043,001 shares of the communications equipment provider’s stock worth $6,573,000 after purchasing an additional 31,439 shares during the last quarter. Finally, Worth Venture Partners LLC lifted its holdings in shares of Ceragon Networks by 17.8% in the 4th quarter. Worth Venture Partners LLC now owns 87,271 shares of the communications equipment provider’s stock worth $189,000 after purchasing an additional 13,174 shares during the last quarter. Institutional investors own 13.31% of the company’s stock.

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.