Ceragon Networks' (CRNT) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Ceragon Networks (NASDAQ:CRNT - Free Report) in a report published on Thursday,Benzinga reports. The firm currently has a $6.00 price target on the communications equipment provider's stock.

Other equities analysts have also issued reports about the stock. Roth Mkm assumed coverage on shares of Ceragon Networks in a research note on Monday, October 28th. They issued a "buy" rating and a $4.50 price target on the stock. Roth Capital upgraded shares of Ceragon Networks to a "strong-buy" rating in a research report on Monday, October 28th. Finally, Litchfield Hills Research assumed coverage on shares of Ceragon Networks in a research report on Tuesday, December 3rd. They set a "buy" rating and a $10.00 target price on the stock. Three research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Ceragon Networks currently has an average rating of "Buy" and an average target price of $6.83.

Ceragon Networks Stock Down 2.6 %

Ceragon Networks stock traded down $0.12 during mid-day trading on Thursday, hitting $4.56. The company had a trading volume of 1,488,683 shares, compared to its average volume of 2,789,440. The stock has a market cap of $389.52 million, a price-to-earnings ratio of 20.73 and a beta of 1.60. Ceragon Networks has a 1 year low of $2.33 and a 1 year high of $5.73. The business has a fifty day moving average of $4.19 and a 200 day moving average of $3.21.

Hedge Funds Weigh In On Ceragon Networks

A number of hedge funds have recently modified their holdings of CRNT. WINTON GROUP Ltd purchased a new position in shares of Ceragon Networks during the second quarter worth approximately $26,000. Renaissance Technologies LLC lifted its holdings in shares of Ceragon Networks by 35.4% during the second quarter. Renaissance Technologies LLC now owns 643,816 shares of the communications equipment provider's stock worth $1,610,000 after purchasing an additional 168,416 shares during the period. Sei Investments Co. lifted its holdings in shares of Ceragon Networks by 45.7% during the second quarter. Sei Investments Co. now owns 27,423 shares of the communications equipment provider's stock worth $69,000 after purchasing an additional 8,607 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of Ceragon Networks during the second quarter worth $56,000. Finally, Walleye Capital LLC lifted its holdings in shares of Ceragon Networks by 95.1% during the third quarter. Walleye Capital LLC now owns 283,933 shares of the communications equipment provider's stock worth $778,000 after purchasing an additional 138,411 shares during the period. 13.31% of the stock is currently owned by hedge funds and other institutional investors.

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.