Roth Mkm Begins Coverage on Ceragon Networks (NASDAQ:CRNT)

Roth Mkm began coverage on shares of Ceragon Networks (NASDAQ:CRNT - Free Report) in a research note released on Monday, Marketbeat reports. The firm issued a buy rating and a $4.50 target price on the communications equipment provider's stock.

Separately, Needham & Company LLC reiterated a "buy" rating and issued a $5.25 price objective on shares of Ceragon Networks in a report on Thursday, August 8th.

Ceragon Networks Price Performance

CRNT stock traded up $0.11 during trading on Monday, hitting $2.58. The stock had a trading volume of 728,409 shares, compared to its average volume of 434,535. Ceragon Networks has a twelve month low of $1.62 and a twelve month high of $3.38. The stock has a market capitalization of $220.38 million, a P/E ratio of 21.50 and a beta of 1.34. The company's 50-day moving average price is $2.72 and its two-hundred day moving average price is $2.69.

Ceragon Networks (NASDAQ:CRNT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The communications equipment provider reported $0.10 earnings per share (EPS) for the quarter. Ceragon Networks had a return on equity of 13.94% and a net margin of 2.87%. The company had revenue of $96.09 million for the quarter. As a group, sell-side analysts expect that Ceragon Networks will post 0.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CRNT. Cubist Systematic Strategies LLC purchased a new stake in shares of Ceragon Networks during the 2nd quarter valued at approximately $56,000. Sei Investments Co. raised its position in shares of Ceragon Networks by 45.7% during the 2nd quarter. Sei Investments Co. now owns 27,423 shares of the communications equipment provider's stock valued at $69,000 after buying an additional 8,607 shares during the period. Renaissance Technologies LLC raised its position in shares of Ceragon Networks by 35.4% during the 2nd quarter. Renaissance Technologies LLC now owns 643,816 shares of the communications equipment provider's stock valued at $1,610,000 after buying an additional 168,416 shares during the period. WINTON GROUP Ltd purchased a new stake in shares of Ceragon Networks during the 2nd quarter valued at approximately $26,000. Finally, Acadian Asset Management LLC raised its position in shares of Ceragon Networks by 25.7% during the 2nd quarter. Acadian Asset Management LLC now owns 1,955,161 shares of the communications equipment provider's stock valued at $4,878,000 after buying an additional 400,161 shares during the period. 13.31% of the stock is currently owned by institutional investors and hedge funds.

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.