Ceragon Networks (NASDAQ:CRNT) Rating Lowered to Hold at StockNews.com

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

Other equities analysts also recently issued research reports about the company. Needham & Company LLC reiterated a "buy" rating and issued a $6.00 price objective on shares of Ceragon Networks in a research report on Wednesday, February 12th. Litchfield Hills Research started coverage on shares of Ceragon Networks in a research note on Tuesday, December 3rd. They issued a "buy" rating and a $10.00 target price for the company. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $6.83.

Ceragon Networks Stock Performance

Shares of NASDAQ:CRNT traded down $0.19 during trading on Thursday, hitting $2.60. 2,086,509 shares of the stock were exchanged, compared to its average volume of 2,537,154. Ceragon Networks has a 1-year low of $2.33 and a 1-year high of $5.73. The company has a market capitalization of $222.09 million, a price-to-earnings ratio of 9.63 and a beta of 1.59. The company's fifty day simple moving average is $4.35 and its 200-day simple moving average is $3.53.

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Institutional Trading of Ceragon Networks

Hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC increased its position in shares of Ceragon Networks by 47.1% during the fourth quarter. Renaissance Technologies LLC now owns 1,333,295 shares of the communications equipment provider's stock worth $6,226,000 after acquiring an additional 426,760 shares in the last quarter. Millennium Management LLC increased 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 worth $4,497,000 after acquiring an additional 532,798 shares during the last quarter. Marshall Wace LLP raised its position in shares of Ceragon Networks by 598.1% in the fourth quarter. Marshall Wace LLP now owns 703,091 shares of the communications equipment provider's stock valued at $3,283,000 after purchasing an additional 602,383 shares during the period. Lazard Asset Management LLC lifted its position in Ceragon Networks by 26.7% during 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 during the last quarter. Finally, Navellier & Associates Inc. bought a new stake in shares of Ceragon Networks during the fourth quarter worth approximately $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.