Craig Hallum Begins Coverage on Ceragon Networks (NASDAQ:CRNT)

Investment analysts at Craig Hallum began coverage on shares of Ceragon Networks (NASDAQ:CRNT) in a research report issued on Thursday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $5.00 price target on the communications equipment provider’s stock. Craig Hallum’s target price indicates a potential upside of 100.80% from the company’s previous close.

A number of other research analysts also recently commented on the company. StockNews.com downgraded shares of Ceragon Networks from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Needham & Company LLC reissued a “buy” rating and issued a $6.00 price target on shares of Ceragon Networks in a report on Wednesday, February 12th. Finally, Litchfield Hills Research initiated coverage on Ceragon Networks in a research report on Tuesday, December 3rd. They issued a “buy” rating and a $10.00 target price on the stock. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $6.38.

Ceragon Networks Stock Up 2.5 %

NASDAQ CRNT opened at $2.49 on Thursday. The business has a 50 day moving average price of $4.00 and a two-hundred day moving average price of $3.51. 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 fifty-two week low of $2.33 and a fifty-two week high of $5.73.

Institutional Investors Weigh In On Ceragon Networks

Hedge funds and other institutional investors have recently bought and sold shares of the business. Penn Capital Management Company LLC acquired a new stake in shares of Ceragon Networks during the 4th quarter valued at $54,000. Commonwealth Equity Services LLC purchased a new stake in shares of Ceragon Networks during the fourth quarter valued at $58,000. Bravias Capital Group LLC acquired a new stake in Ceragon Networks during the 4th quarter worth about $71,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Ceragon Networks during the fourth quarter valued at about $81,000. Finally, Perigon Wealth Management LLC purchased a new stake in Ceragon Networks during the fourth quarter valued at about $90,000. 13.31% of the stock is currently owned by institutional investors.

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.