Ceragon Networks (NASDAQ:CRNT) Now Covered by Analysts at Craig Hallum

Equities researchers at Craig Hallum assumed coverage on shares of Ceragon Networks (NASDAQ:CRNT) in a research note issued to investors on Thursday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $5.00 price target on the communications equipment provider’s stock. Craig Hallum’s price objective suggests a potential upside of 100.80% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. 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 price objective for the company. StockNews.com cut shares of Ceragon Networks from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Finally, Needham & Company LLC restated a “buy” rating and set a $6.00 target price on shares of Ceragon Networks in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $6.38.

Ceragon Networks Trading Up 2.5 %

CRNT opened at $2.49 on Thursday. The stock has a market cap of $212.69 million, a PE ratio of 9.22 and a beta of 1.62. Ceragon Networks has a 1 year low of $2.33 and a 1 year high of $5.73. The stock’s 50 day simple moving average is $4.00 and its 200-day simple moving average is $3.51.

Hedge Funds Weigh In On Ceragon Networks

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRNT. Marshall Wace LLP increased its holdings in shares of Ceragon Networks by 598.1% during the fourth quarter. Marshall Wace LLP now owns 703,091 shares of the communications equipment provider’s stock worth $3,283,000 after buying an additional 602,383 shares in the last quarter. Millennium Management LLC increased its holdings in 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 purchasing an additional 532,798 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Ceragon Networks by 47.1% in the fourth quarter. Renaissance Technologies LLC now owns 1,333,295 shares of the communications equipment provider’s stock valued at $6,226,000 after buying an additional 426,760 shares during the last quarter. Navellier & Associates Inc. bought a new position in shares of Ceragon Networks in the fourth quarter worth about $1,804,000. Finally, Two Sigma Investments LP raised its position in Ceragon Networks by 951.7% in the 4th quarter. Two Sigma Investments LP now owns 296,588 shares of the communications equipment provider’s stock worth $1,385,000 after purchasing an additional 268,388 shares during the last quarter. 13.31% of the stock is currently 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.