Ceragon Networks Ltd. (NASDAQ:CRNT) Receives $6.38 Consensus Target Price from Brokerages

Ceragon Networks Ltd. (NASDAQ:CRNT - Get Free Report) has been assigned a consensus rating of "Buy" from the five research firms that are currently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $6.38.

A number of research analysts have commented on the stock. StockNews.com upgraded shares of Ceragon Networks from a "hold" rating to a "buy" rating in a research note on Wednesday. Craig Hallum began coverage on shares of Ceragon Networks in a research report on Thursday, March 13th. They set a "buy" rating and a $5.00 price target on the stock. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $6.00 price target on shares of Ceragon Networks in a research note on Wednesday, February 12th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Marshall Wace LLP lifted its holdings 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 worth $3,283,000 after acquiring an additional 602,383 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Ceragon Networks by 123.9% in the 4th quarter. Millennium Management LLC now owns 962,898 shares of the communications equipment provider's stock worth $4,497,000 after purchasing an additional 532,798 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Ceragon Networks by 47.1% in the 4th quarter. Renaissance Technologies LLC now owns 1,333,295 shares of the communications equipment provider's stock worth $6,226,000 after purchasing an additional 426,760 shares during the last quarter. Navellier & Associates Inc. acquired a new position in Ceragon Networks during the 4th quarter valued at approximately $1,804,000. Finally, Two Sigma Investments LP grew its stake in Ceragon Networks by 951.7% during the 4th quarter. Two Sigma Investments LP now owns 296,588 shares of the communications equipment provider's stock worth $1,385,000 after buying an additional 268,388 shares during the last quarter. 13.31% of the stock is owned by institutional investors and hedge funds.

Ceragon Networks Stock Up 1.9 %

Shares of Ceragon Networks stock traded up $0.04 on Monday, hitting $2.10. 676,825 shares of the company's stock traded hands, compared to its average volume of 1,038,904. Ceragon Networks has a 52-week low of $1.95 and a 52-week high of $5.73. The stock has a market cap of $186.56 million, a P/E ratio of 7.78 and a beta of 1.60. The firm's 50-day moving average is $2.86 and its 200 day moving average is $3.43.

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.