Ceragon Networks (NASDAQ:CRNT) Issues Quarterly Earnings Results

Ceragon Networks (NASDAQ:CRNT) issued its earnings results on Tuesday. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01), FiscalAI reports. Ceragon Networks had a return on equity of 6.67% and a net margin of 0.38%.

Ceragon Networks Price Performance

NASDAQ CRNT opened at $2.26 on Tuesday. The company has a market cap of $200.98 million, a P/E ratio of 113.06 and a beta of 1.19. The stock has a 50-day moving average of $2.21 and a two-hundred day moving average of $2.20. Ceragon Networks has a 1-year low of $1.82 and a 1-year high of $3.54.

Institutional Investors Weigh In On Ceragon Networks

Large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets acquired a new stake in Ceragon Networks during the 2nd quarter worth approximately $26,000. Walleye Capital LLC acquired a new position in shares of Ceragon Networks in the fourth quarter worth $27,000. HRT Financial LP increased its position in shares of Ceragon Networks by 44.3% during the fourth quarter. HRT Financial LP now owns 19,660 shares of the communications equipment provider’s stock worth $41,000 after acquiring an additional 6,039 shares during the period. Verition Fund Management LLC acquired a new stake in shares of Ceragon Networks in the fourth quarter valued at $64,000. Finally, Worth Venture Partners LLC acquired a new stake in shares of Ceragon Networks in the third quarter valued at $122,000. 13.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Ceragon Networks in a report on Monday, December 29th. Needham & Company LLC reiterated a “buy” rating and issued a $3.00 price objective on shares of Ceragon Networks in a research report on Wednesday, November 12th. Finally, Zacks Research downgraded Ceragon Networks from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 20th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.00.

About Ceragon Networks

Ceragon Networks Ltd. is a global provider of wireless backhaul solutions, specializing in high-capacity, low-latency connectivity for mobile operators and private networks. The company designs and manufactures a portfolio of microwave and millimeter-wave equipment that serves as a fiber alternative for carrying voice, data and video traffic between cell sites and core networks. Ceragon’s solutions are engineered to support the rigorous performance requirements of modern 4G and 5G deployments, with an emphasis on scalability, reliability and efficient spectrum utilization.

The company’s product lineup includes point-to-point and multi-point radio platforms, as well as software-driven network management tools that enable operators to plan, deploy and monitor end-to-end transport networks.