Ceragon Networks (NASDAQ:CRNT) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Ceragon Networks (NASDAQ:CRNT) from a buy rating to a hold rating in a research note published on Thursday.

Several other research firms also recently weighed in on CRNT. Litchfield Hills Research began coverage on Ceragon Networks in a research report on Tuesday, December 3rd. They issued a “buy” rating and a $10.00 target price for the company. Craig Hallum began coverage on Ceragon Networks in a research report on Thursday, March 13th. They issued a “buy” rating and a $5.00 target price for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $6.00 target price on shares of Ceragon Networks in a research report on Wednesday, February 12th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Ceragon Networks presently has a consensus rating of “Buy” and an average target price of $6.38.

Ceragon Networks Stock Up 0.8 %

Shares of CRNT opened at $2.53 on Thursday. Ceragon Networks has a 52-week low of $2.33 and a 52-week high of $5.73. The company has a market capitalization of $216.11 million, a PE ratio of 9.37 and a beta of 1.62. The stock has a fifty day simple moving average of $3.66 and a two-hundred day simple moving average of $3.49.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its position in shares of Ceragon Networks by 47.1% during the 4th quarter. Renaissance Technologies LLC now owns 1,333,295 shares of the communications equipment provider’s stock worth $6,226,000 after acquiring an additional 426,760 shares in the last quarter. Millennium Management LLC boosted its holdings in Ceragon Networks by 123.9% in the fourth quarter. Millennium Management LLC now owns 962,898 shares of the communications equipment provider’s stock valued at $4,497,000 after purchasing an additional 532,798 shares in the last quarter. Marshall Wace LLP increased its stake in Ceragon Networks by 598.1% in the fourth quarter. Marshall Wace LLP now owns 703,091 shares of the communications equipment provider’s stock valued at $3,283,000 after purchasing an additional 602,383 shares during the last quarter. Lazard Asset Management LLC raised its holdings in Ceragon Networks by 26.7% during 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 in the last quarter. Finally, Navellier & Associates Inc. purchased a new stake in shares of Ceragon Networks during the 4th quarter worth approximately $1,804,000. 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.