Ceragon Networks (NASDAQ:CRNT) Coverage Initiated by Analysts at Litchfield Hills Research

Research analysts at Litchfield Hills Research initiated coverage on shares of Ceragon Networks (NASDAQ:CRNT) in a research report issued on Tuesday,Benzinga reports. The firm set a “buy” rating and a $10.00 price target on the communications equipment provider’s stock. Litchfield Hills Research’s price target indicates a potential upside of 132.56% from the stock’s current price.

Other research analysts have also issued reports about the company. Roth Mkm initiated coverage on Ceragon Networks in a report on Monday, October 28th. They set a “buy” rating and a $4.50 target price on the stock. Needham & Company LLC restated a “buy” rating and issued a $5.25 price target on shares of Ceragon Networks in a research report on Thursday, August 8th. Finally, Roth Capital upgraded Ceragon Networks to a “strong-buy” rating in a research report on Monday, October 28th. Three equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Ceragon Networks has an average rating of “Buy” and an average price target of $6.58.

Ceragon Networks Stock Performance

Shares of NASDAQ:CRNT traded up $0.14 during trading hours on Tuesday, hitting $4.30. The stock had a trading volume of 489,981 shares, compared to its average volume of 544,279. The stock’s fifty day simple moving average is $2.84 and its 200 day simple moving average is $2.74. The firm has a market capitalization of $367.31 million, a price-to-earnings ratio of 19.55 and a beta of 1.61. Ceragon Networks has a 1-year low of $1.80 and a 1-year high of $4.70.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. XTX Topco Ltd acquired a new stake in Ceragon Networks during the 3rd quarter worth about $152,000. Walleye Capital LLC lifted its position in shares of Ceragon Networks by 95.1% in the third quarter. Walleye Capital LLC now owns 283,933 shares of the communications equipment provider’s stock worth $778,000 after purchasing an additional 138,411 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Ceragon Networks during the second quarter worth approximately $56,000. Sei Investments Co. grew its holdings 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 acquiring an additional 8,607 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in Ceragon Networks by 35.4% during the second quarter. Renaissance Technologies LLC now owns 643,816 shares of the communications equipment provider’s stock valued at $1,610,000 after purchasing an additional 168,416 shares during the last quarter. Hedge funds and other institutional investors own 13.31% of the company’s stock.

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.