Brokerages Set Ceragon Networks Ltd. (NASDAQ:CRNT) Price Target at $6.38

Ceragon Networks Ltd. (NASDAQ:CRNT) has received a consensus recommendation of “Buy” from the five analysts that are presently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $6.38.

CRNT has been the subject of a number of recent analyst reports. Litchfield Hills Research initiated coverage on shares of Ceragon Networks in a report on Tuesday, December 3rd. They set a “buy” rating and a $10.00 price target for the company. StockNews.com cut shares of Ceragon Networks from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Craig Hallum initiated coverage on shares of Ceragon Networks in a report on Thursday. They set a “buy” rating and a $5.00 price target for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $6.00 price target on shares of Ceragon Networks in a report on Wednesday, February 12th.

Ceragon Networks Trading Up 5.4 %

NASDAQ:CRNT opened at $2.73 on Thursday. The firm has a market capitalization of $233.19 million, a PE ratio of 10.11 and a beta of 1.62. Ceragon Networks has a 1 year low of $2.33 and a 1 year high of $5.73. The firm’s fifty day simple moving average is $3.92 and its 200 day simple moving average is $3.50.

Institutional Trading of Ceragon Networks

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Marshall Wace LLP increased its holdings in Ceragon Networks by 598.1% in the 4th quarter. Marshall Wace LLP now owns 703,091 shares of the communications equipment provider’s stock valued at $3,283,000 after buying an additional 602,383 shares during the period. Millennium Management LLC increased its holdings in Ceragon Networks by 123.9% in the 4th quarter. Millennium Management LLC now owns 962,898 shares of the communications equipment provider’s stock valued at $4,497,000 after buying an additional 532,798 shares during the period. Renaissance Technologies LLC increased its holdings in Ceragon Networks by 47.1% in the 4th quarter. Renaissance Technologies LLC now owns 1,333,295 shares of the communications equipment provider’s stock valued at $6,226,000 after buying an additional 426,760 shares during the period. Navellier & Associates Inc. bought a new stake in Ceragon Networks in the 4th quarter valued at $1,804,000. Finally, Two Sigma Investments LP increased its holdings in Ceragon Networks by 951.7% in the 4th quarter. Two Sigma Investments LP now owns 296,588 shares of the communications equipment provider’s stock valued at $1,385,000 after buying an additional 268,388 shares during the period. 13.31% of the stock is currently owned by institutional investors and hedge funds.

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.