Ceragon Networks (NASDAQ:CRNT) Upgraded by Roth Capital to "Strong-Buy"

Ceragon Networks (NASDAQ:CRNT - Get Free Report) was upgraded by stock analysts at Roth Capital to a "strong-buy" rating in a research note issued on Monday, Zacks.com reports.

Other equities research analysts also recently issued research reports about the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $5.25 price objective on shares of Ceragon Networks in a report on Thursday, August 8th. Roth Mkm started coverage on shares of Ceragon Networks in a research note on Monday. They issued a "buy" rating and a $4.50 price target for the company. Two research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Strong Buy" and a consensus price target of $4.88.

Ceragon Networks Trading Down 0.8 %

NASDAQ:CRNT traded down $0.02 during mid-day trading on Monday, hitting $2.56. The stock had a trading volume of 310,376 shares, compared to its average volume of 433,943. The company has a 50 day simple moving average of $2.70 and a 200-day simple moving average of $2.68. The stock has a market capitalization of $218.68 million, a price-to-earnings ratio of 21.33 and a beta of 1.34. Ceragon Networks has a 52 week low of $1.62 and a 52 week high of $3.38.

Ceragon Networks (NASDAQ:CRNT - Get Free Report) last issued 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 business had revenue of $96.09 million during the quarter. As a group, equities research analysts anticipate that Ceragon Networks will post 0.24 earnings per share for the current year.

Institutional Trading of Ceragon Networks

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC boosted its stake in shares of Ceragon Networks by 126.4% during the 1st quarter. Acadian Asset Management LLC now owns 1,555,000 shares of the communications equipment provider's stock worth $4,966,000 after acquiring an additional 868,138 shares in the last quarter. Inspire Investing LLC purchased a new position in Ceragon Networks in the 1st quarter worth about $884,000. Renaissance Technologies LLC raised its holdings in Ceragon Networks by 35.4% during the 2nd quarter. Renaissance Technologies LLC now owns 643,816 shares of the communications equipment provider's stock worth $1,610,000 after buying an additional 168,416 shares during the period. Kennedy Capital Management LLC purchased a new stake in Ceragon Networks during the first quarter valued at about $316,000. Finally, Lazard Asset Management LLC boosted its holdings in shares of Ceragon Networks by 9,906.9% in the first quarter. Lazard Asset Management LLC now owns 94,765 shares of the communications equipment provider's stock worth $303,000 after buying an additional 93,818 shares during the period. 13.31% of the stock is owned by institutional investors and hedge funds.

About Ceragon Networks

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.