Ceragon Networks (NASDAQ:CRNT) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Ceragon Networks (NASDAQ:CRNT - Free Report) from a strong-buy rating to a buy rating in a research note issued to investors on Thursday morning.

Other equities research analysts have also recently issued research reports about the company. Roth Mkm assumed coverage on Ceragon Networks in a research note on Monday, October 28th. They issued a "buy" rating and a $4.50 price objective for the company. Needham & Company LLC restated a "buy" rating and issued a $6.00 price target on shares of Ceragon Networks in a research report on Wednesday, February 12th. Litchfield Hills Research initiated coverage on Ceragon Networks in a research note on Tuesday, December 3rd. They set a "buy" rating and a $10.00 price objective for the company. Finally, Roth Capital upgraded Ceragon Networks to a "strong-buy" rating in a research note on Monday, October 28th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $6.83.

Ceragon Networks Stock Performance

NASDAQ CRNT traded down $0.08 during trading hours on Thursday, hitting $3.46. The company had a trading volume of 2,003,814 shares, compared to its average volume of 1,752,991. The business has a 50 day moving average of $4.65 and a 200-day moving average of $3.51. Ceragon Networks has a 1-year low of $2.33 and a 1-year high of $5.73. The company has a market cap of $295.55 million, a PE ratio of 15.73 and a beta of 1.59.

Institutional Investors Weigh In On Ceragon Networks

A number of hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its stake 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 buying an additional 426,760 shares in the last quarter. Millennium Management LLC grew its holdings in Ceragon Networks by 123.9% during the fourth quarter. Millennium Management LLC now owns 962,898 shares of the communications equipment provider's stock worth $4,497,000 after acquiring an additional 532,798 shares during the period. Marshall Wace LLP grew its holdings in Ceragon Networks by 598.1% during 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 period. Lazard Asset Management LLC raised its position in Ceragon Networks by 26.7% in the fourth quarter. Lazard Asset Management LLC now owns 570,288 shares of the communications equipment provider's stock worth $2,663,000 after acquiring 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 $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.