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

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

Several other analysts have also recently issued reports on CRNT. Litchfield Hills Research started coverage on shares of Ceragon Networks in a research report on Tuesday, December 3rd. They set a “buy” rating and a $10.00 target price on the stock. Needham & Company LLC restated a “buy” rating and set a $6.00 price objective on shares of Ceragon Networks in a research report on Wednesday, February 12th. Finally, Craig Hallum initiated coverage on Ceragon Networks in a report on Thursday, March 13th. They set a “buy” rating and a $5.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Ceragon Networks currently has an average rating of “Buy” and an average target price of $6.38.

Ceragon Networks Price Performance

Shares of CRNT opened at $2.53 on Thursday. The stock has a market capitalization of $216.11 million, a price-to-earnings ratio of 9.37 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 business’s 50 day simple moving average is $3.66 and its 200-day simple moving average is $3.49.

Institutional Trading of Ceragon Networks

Several institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its stake in shares of Ceragon Networks by 47.1% during the fourth 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 last quarter. Millennium Management LLC boosted its holdings in Ceragon Networks by 123.9% during the 4th quarter. Millennium Management LLC now owns 962,898 shares of the communications equipment provider’s stock valued at $4,497,000 after acquiring an additional 532,798 shares during the period. Marshall Wace LLP grew its position 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 acquiring an additional 602,383 shares during the last quarter. Lazard Asset Management LLC increased its stake in Ceragon Networks by 26.7% in the fourth quarter. Lazard Asset Management LLC now owns 570,288 shares of the communications equipment provider’s stock worth $2,663,000 after purchasing an additional 120,106 shares during the period. Finally, Navellier & Associates Inc. bought a new stake in shares of Ceragon Networks during the fourth quarter worth $1,804,000. 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.