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

Ceragon Networks (NASDAQ:CRNT - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Thursday.

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

Ceragon Networks Trading Up 0.8 %

Shares of Ceragon Networks stock traded up $0.02 on Thursday, hitting $2.53. 592,725 shares of the company traded hands, compared to its average volume of 994,140. The company has a market cap of $216.11 million, a PE ratio of 9.37 and a beta of 1.62. The stock's 50 day moving average price is $3.66 and its 200-day moving average price is $3.49. Ceragon Networks has a 52 week low of $2.33 and a 52 week high of $5.73.

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Hedge Funds Weigh In On Ceragon Networks

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Penn Capital Management Company LLC purchased a new stake in shares of Ceragon Networks during the fourth quarter valued at about $54,000. Commonwealth Equity Services LLC bought a new position in shares of Ceragon Networks during the 4th quarter worth approximately $58,000. Bravias Capital Group LLC purchased a new stake in Ceragon Networks during the fourth quarter valued at approximately $71,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Ceragon Networks in the fourth quarter valued at approximately $81,000. Finally, Perigon Wealth Management LLC purchased a new position in Ceragon Networks in the fourth quarter worth $90,000. Hedge funds and other institutional investors 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.