Needham & Company LLC Reaffirms “Buy” Rating for Ceragon Networks (NASDAQ:CRNT)

Needham & Company LLC restated their buy rating on shares of Ceragon Networks (NASDAQ:CRNT) in a research note released on Wednesday morning,Benzinga reports. The firm currently has a $6.00 price objective on the communications equipment provider’s stock.

CRNT has been the subject of several other research reports. Roth Mkm started coverage on Ceragon Networks in a research note on Monday, October 28th. They set a “buy” rating and a $4.50 price target for the company. Litchfield Hills Research started coverage on Ceragon Networks in a research note on Tuesday, December 3rd. They set a “buy” rating and a $10.00 price target for the company. Finally, Roth Capital upgraded Ceragon Networks to a “strong-buy” rating in a research note on Monday, October 28th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $6.83.

Ceragon Networks Price Performance

Ceragon Networks stock opened at $3.46 on Wednesday. Ceragon Networks has a 12 month low of $2.33 and a 12 month high of $5.73. The business has a 50 day simple moving average of $4.65 and a 200-day simple moving average of $3.50. The stock has a market capitalization of $295.55 million, a PE ratio of 15.73 and a beta of 1.59.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CRNT. Cubist Systematic Strategies LLC purchased a new position in Ceragon Networks in the second quarter worth $56,000. Walleye Capital LLC raised its position in 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 acquiring an additional 138,411 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Ceragon Networks in the third quarter valued at $152,000. JPMorgan Chase & Co. purchased a new position in shares of Ceragon Networks in the third quarter valued at $104,000. Finally, Inspire Investing LLC purchased a new position in shares of Ceragon Networks in the fourth quarter valued at $903,000. Hedge funds and other institutional investors own 13.31% of the company’s stock.

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.