Ceragon Networks (NASDAQ:CRNT) Research Coverage Started at Lake Street Capital

Lake Street Capital initiated coverage on shares of Ceragon Networks (NASDAQ:CRNT) in a report released on Tuesday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $3.50 target price on the communications equipment provider’s stock.

Several other research analysts also recently weighed in on CRNT. Weiss Ratings restated a “hold (c-)” rating on shares of Ceragon Networks in a research note on Friday, March 27th. Zacks Research downgraded Ceragon Networks from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Ceragon Networks presently has a consensus rating of “Hold” and an average price target of $3.50.

Ceragon Networks Stock Up 0.5%

NASDAQ:CRNT opened at $2.19 on Tuesday. The stock has a market capitalization of $194.76 million, a price-to-earnings ratio of -109.50 and a beta of 1.24. Ceragon Networks has a 52 week low of $1.82 and a 52 week high of $2.84. The firm has a 50 day moving average of $2.27 and a 200 day moving average of $2.25.

Ceragon Networks (NASDAQ:CRNT) last released its quarterly earnings results on Tuesday, February 17th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). Ceragon Networks had a positive return on equity of 3.52% and a negative net margin of 0.62%.The firm had revenue of $82.33 million during the quarter, compared to analysts’ expectations of $84.23 million. As a group, analysts expect that Ceragon Networks will post 0.26 EPS for the current year.

Institutional Trading of Ceragon Networks

Large investors have recently added to or reduced their stakes in the company. Aristides Capital LLC increased its holdings in shares of Ceragon Networks by 4.5% in the fourth quarter. Aristides Capital LLC now owns 141,130 shares of the communications equipment provider’s stock valued at $296,000 after purchasing an additional 6,130 shares during the period. Virtu Financial LLC acquired a new stake in shares of Ceragon Networks during the fourth quarter worth about $102,000. XTX Topco Ltd boosted its position in Ceragon Networks by 328.4% in the fourth quarter. XTX Topco Ltd now owns 230,857 shares of the communications equipment provider’s stock valued at $485,000 after buying an additional 176,965 shares during the last quarter. Private Advisor Group LLC boosted its position in Ceragon Networks by 47.4% in the fourth quarter. Private Advisor Group LLC now owns 1,420,888 shares of the communications equipment provider’s stock valued at $2,984,000 after buying an additional 456,710 shares during the last quarter. Finally, Tamar Securities LLC increased its holdings in Ceragon Networks by 67.3% in the 4th quarter. Tamar Securities LLC now owns 17,016 shares of the communications equipment provider’s stock worth $36,000 after buying an additional 6,848 shares during the period. Hedge funds and other institutional investors own 13.31% of the company’s stock.

Ceragon Networks Company Profile

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.