Ceragon Networks (NASDAQ:CRNT) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Ceragon Networks (NASDAQ:CRNT - Free Report) from a buy rating to a hold rating in a research note released on Saturday.

CRNT has been the subject of a number of other reports. Litchfield Hills Research assumed coverage on shares of Ceragon Networks in a research report on Tuesday, December 3rd. They issued a "buy" rating and a $10.00 price objective for the company. Needham & Company LLC reissued a "buy" rating and issued a $6.00 price target on shares of Ceragon Networks in a report on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $6.83.

Ceragon Networks Stock Performance

NASDAQ CRNT traded down $0.11 during trading hours on Friday, hitting $2.45. The company had a trading volume of 119,994 shares, compared to its average volume of 2,389,945. The firm has a market capitalization of $208.85 million, a price-to-earnings ratio of 9.09 and a beta of 1.62. Ceragon Networks has a 52 week low of $2.33 and a 52 week high of $5.73. The firm has a 50 day simple moving average of $4.13 and a 200 day simple moving average of $3.52.

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Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CRNT. Squarepoint Ops LLC increased its stake in Ceragon Networks by 429.5% in the fourth quarter. Squarepoint Ops LLC now owns 250,000 shares of the communications equipment provider's stock valued at $1,168,000 after acquiring an additional 202,790 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in shares of Ceragon Networks by 404.9% in the 4th quarter. Two Sigma Advisers LP now owns 71,700 shares of the communications equipment provider's stock worth $335,000 after purchasing an additional 57,500 shares in the last quarter. Two Sigma Investments LP increased its position in shares of 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 valued at $1,385,000 after purchasing an additional 268,388 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Ceragon Networks by 123.9% during the 4th quarter. Millennium Management LLC now owns 962,898 shares of the communications equipment provider's stock valued at $4,497,000 after buying an additional 532,798 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its position in Ceragon Networks by 26.7% in the 4th quarter. Lazard Asset Management LLC now owns 570,288 shares of the communications equipment provider's stock worth $2,663,000 after buying an additional 120,106 shares during the last quarter. 13.31% of the stock is currently owned by 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.