Ceragon Networks (NASDAQ:CRNT) Coverage Initiated at Roth Mkm

Research analysts at Roth Mkm started coverage on shares of Ceragon Networks (NASDAQ:CRNT) in a report released on Monday, Briefing.com reports. The brokerage set a “buy” rating and a $4.50 price target on the communications equipment provider’s stock. Roth Mkm’s price target would indicate a potential upside of 82.19% from the company’s current price.

Separately, Needham & Company LLC reaffirmed a “buy” rating and issued a $5.25 price target on shares of Ceragon Networks in a report on Thursday, August 8th.

Ceragon Networks Price Performance

Shares of NASDAQ:CRNT opened at $2.47 on Monday. The business’s 50-day moving average is $2.72 and its 200 day moving average is $2.69. Ceragon Networks has a 1 year low of $1.62 and a 1 year high of $3.38. The firm has a market capitalization of $210.99 million, a P/E ratio of 20.58 and a beta of 1.34.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC boosted its position in Ceragon Networks by 25.7% in the second quarter. Acadian Asset Management LLC now owns 1,955,161 shares of the communications equipment provider’s stock valued at $4,878,000 after buying an additional 400,161 shares during the last quarter. Essex Investment Management Co. LLC lifted its stake in Ceragon Networks by 1.6% during the 1st quarter. Essex Investment Management Co. LLC now owns 1,080,444 shares of the communications equipment provider’s stock valued at $3,457,000 after acquiring an additional 16,630 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Ceragon Networks by 35.4% in the 2nd quarter. Renaissance Technologies LLC now owns 643,816 shares of the communications equipment provider’s stock valued at $1,610,000 after acquiring an additional 168,416 shares during the last quarter. Inspire Investing LLC acquired a new stake in shares of Ceragon Networks in the first quarter worth $884,000. Finally, Perritt Capital Management Inc. raised its holdings in shares of Ceragon Networks by 6.7% during the first quarter. Perritt Capital Management Inc. now owns 217,600 shares of the communications equipment provider’s stock worth $696,000 after purchasing an additional 13,600 shares during the last quarter. 13.31% of the stock is 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.