Ceragon Networks (NASDAQ:CRNT) Coverage Initiated by Analysts at Litchfield Hills Research

Litchfield Hills Research assumed coverage on shares of Ceragon Networks (NASDAQ:CRNT) in a report issued on Tuesday morning,Benzinga reports. The firm issued a buy rating and a $10.00 target price on the communications equipment provider’s stock.

Several other brokerages have also recently weighed in on CRNT. Roth Mkm assumed coverage on shares of Ceragon Networks in a research note on Monday, October 28th. They issued a “buy” rating and a $4.50 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $5.25 price target on shares of Ceragon Networks in a research report on Thursday, August 8th. Finally, Roth Capital raised shares of Ceragon Networks to a “strong-buy” rating in a research report on Monday, October 28th. Three analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $6.58.

Ceragon Networks Stock Performance

CRNT stock opened at $4.39 on Tuesday. The company has a market cap of $374.99 million, a price-to-earnings ratio of 19.96 and a beta of 1.61. The business’s 50-day moving average is $2.84 and its two-hundred day moving average is $2.74. Ceragon Networks has a fifty-two week low of $1.80 and a fifty-two week high of $4.70.

Institutional Investors Weigh In On Ceragon Networks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRNT. Sei Investments Co. lifted its holdings in Ceragon Networks by 45.7% during the second quarter. Sei Investments Co. now owns 27,423 shares of the communications equipment provider’s stock valued at $69,000 after purchasing an additional 8,607 shares in the last quarter. WINTON GROUP Ltd bought a new position in Ceragon Networks in the 2nd quarter worth $26,000. Cubist Systematic Strategies LLC purchased a new stake in Ceragon Networks in the 2nd quarter worth $56,000. XTX Topco Ltd bought a new stake in Ceragon Networks during the third quarter valued at about $152,000. Finally, Walleye Capital LLC lifted its position in shares of Ceragon Networks by 95.1% in the third quarter. Walleye Capital LLC now owns 283,933 shares of the communications equipment provider’s stock valued at $778,000 after acquiring an additional 138,411 shares in the last quarter. 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.