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

Shares of Ceragon Networks Ltd. (NASDAQ:CRNT) have been given an average rating of “Buy” by the five research firms that are presently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $6.38.

A number of brokerages recently weighed in on CRNT. Litchfield Hills Research assumed coverage on shares of Ceragon Networks in a research report on Tuesday, December 3rd. They issued a “buy” rating and a $10.00 price target for the company. Craig Hallum initiated coverage on Ceragon Networks in a report on Thursday, March 13th. They issued a “buy” rating and a $5.00 target price for the company. StockNews.com cut Ceragon Networks from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $6.00 price objective on shares of Ceragon Networks in a research note on Wednesday, February 12th.

Ceragon Networks Stock Performance

Shares of NASDAQ:CRNT opened at $2.58 on Thursday. Ceragon Networks has a twelve month low of $2.33 and a twelve month high of $5.73. The company has a market capitalization of $220.38 million, a PE ratio of 9.56 and a beta of 1.62. The firm has a 50 day simple moving average of $3.75 and a 200-day simple moving average of $3.50.

Institutional Trading of Ceragon Networks

A number of hedge funds have recently added to or reduced their stakes in CRNT. Penn Capital Management Company LLC acquired a new position in shares of Ceragon Networks in the fourth quarter valued at approximately $54,000. Commonwealth Equity Services LLC purchased a new stake in shares of Ceragon Networks during the fourth quarter worth approximately $58,000. Bravias Capital Group LLC purchased a new stake in shares of Ceragon Networks during the fourth quarter worth approximately $71,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Ceragon Networks during the 4th quarter worth $81,000. Finally, Perigon Wealth Management LLC purchased a new position in Ceragon Networks during the 4th quarter worth $90,000. 13.31% of the stock is owned by institutional investors and hedge funds.

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.