Ceragon Networks (NASDAQ:CRNT) Downgraded by ValuEngine

ValuEngine downgraded shares of Ceragon Networks (NASDAQ:CRNT) from a hold rating to a sell rating in a report published on Saturday, ValuEngine reports.

A number of other research firms have also recently commented on CRNT. Zacks Investment Research cut Ceragon Networks from a buy rating to a hold rating in a research note on Tuesday, April 23rd. BidaskClub cut Ceragon Networks from a hold rating to a sell rating in a research note on Friday, May 3rd. Finally, TheStreet cut Ceragon Networks from a b rating to a c+ rating in a research note on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $3.83.

NASDAQ:CRNT opened at $2.61 on Friday. The stock’s fifty day moving average price is $2.86. Ceragon Networks has a 52 week low of $2.52 and a 52 week high of $5.04. The firm has a market capitalization of $209.17 million, a PE ratio of 13.05, a price-to-earnings-growth ratio of 0.78 and a beta of 1.28.

Ceragon Networks (NASDAQ:CRNT) last released its quarterly earnings results on Monday, May 6th. The communications equipment provider reported $0.03 EPS for the quarter, hitting analysts’ consensus estimates of $0.03. Ceragon Networks had a return on equity of 9.63% and a net margin of 6.61%. The company had revenue of $69.16 million for the quarter, compared to analysts’ expectations of $73.74 million. On average, equities research analysts predict that Ceragon Networks will post 0.22 EPS for the current year.

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its position in Ceragon Networks by 34.4% during the 4th quarter. BlackRock Inc. now owns 130,328 shares of the communications equipment provider’s stock worth $493,000 after acquiring an additional 33,344 shares during the period. GSA Capital Partners LLP lifted its position in Ceragon Networks by 12.4% during the 4th quarter. GSA Capital Partners LLP now owns 134,911 shares of the communications equipment provider’s stock worth $510,000 after acquiring an additional 14,900 shares during the period. Menta Capital LLC lifted its position in Ceragon Networks by 24.5% during the 4th quarter. Menta Capital LLC now owns 317,172 shares of the communications equipment provider’s stock worth $1,199,000 after acquiring an additional 62,467 shares during the period. Two Sigma Investments LP lifted its position in Ceragon Networks by 168.0% during the 4th quarter. Two Sigma Investments LP now owns 621,055 shares of the communications equipment provider’s stock worth $2,348,000 after acquiring an additional 389,309 shares during the period. Finally, Two Sigma Advisers LP lifted its position in Ceragon Networks by 50.9% during the 4th quarter. Two Sigma Advisers LP now owns 453,600 shares of the communications equipment provider’s stock worth $1,715,000 after acquiring an additional 153,100 shares during the period. 20.83% of the stock is currently owned by institutional investors and hedge funds.

About Ceragon Networks

Ceragon Networks Ltd. provides wireless backhaul solutions that enable cellular operators and other wireless service providers to deliver voice and data services worldwide. Its wireless backhaul solutions use microwave and millimeter wave technology to transfer telecommunication traffic between base stations, small sells, and the core of the service provider's network.

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Analyst Recommendations for Ceragon Networks (NASDAQ:CRNT)

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