Ceragon Networks (NASDAQ:CRNT) Upgraded to “Strong-Buy” at Roth Capital

Ceragon Networks (NASDAQ:CRNT) was upgraded by investment analysts at Roth Capital to a “strong-buy” rating in a report issued on Monday, Zacks.com reports.

CRNT has been the subject of several other research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $5.25 price objective on shares of Ceragon Networks in a research note on Thursday, August 8th. Roth Mkm started coverage on shares of Ceragon Networks in a research report on Monday. They set a “buy” rating and a $4.50 target price for the company. Two investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Ceragon Networks currently has an average rating of “Strong Buy” and a consensus target price of $4.88.

Ceragon Networks Stock Down 0.8 %

Ceragon Networks stock opened at $2.56 on Monday. The company’s fifty day simple moving average is $2.70 and its 200-day simple moving average is $2.68. Ceragon Networks has a 12 month low of $1.62 and a 12 month high of $3.38. The stock has a market cap of $218.68 million, a P/E ratio of 21.33 and a beta of 1.34.

Ceragon Networks (NASDAQ:CRNT) last posted its quarterly earnings results on Wednesday, August 7th. The communications equipment provider reported $0.10 EPS for the quarter. Ceragon Networks had a net margin of 2.87% and a return on equity of 13.94%. The business had revenue of $96.09 million for the quarter. On average, equities research analysts expect that Ceragon Networks will post 0.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CRNT. WINTON GROUP Ltd bought a new stake in Ceragon Networks in the second quarter valued at about $26,000. Cubist Systematic Strategies LLC bought a new stake in Ceragon Networks during the second quarter worth about $56,000. Sei Investments Co. increased its holdings in shares of Ceragon Networks by 45.7% in 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. Lazard Asset Management LLC increased its holdings in shares of Ceragon Networks by 9,906.9% in the first quarter. Lazard Asset Management LLC now owns 94,765 shares of the communications equipment provider’s stock valued at $303,000 after purchasing an additional 93,818 shares in the last quarter. Finally, Kennedy Capital Management LLC acquired a new stake in shares of Ceragon Networks in the first quarter valued at approximately $316,000. Institutional investors and hedge funds own 13.31% of the company’s stock.

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.