Ceragon Networks (NASDAQ:CRNT) Downgraded to Sell at ValuEngine

ValuEngine lowered shares of Ceragon Networks (NASDAQ:CRNT) from a hold rating to a sell rating in a research report sent to investors on Saturday, July 6th, ValuEngine reports.

CRNT has been the topic of a number of other reports. BidaskClub raised shares of ZIX from a buy rating to a strong-buy rating in a research note on Friday, May 3rd. Oppenheimer set a $32.00 target price on shares of Iovance Biotherapeutics and gave the company a buy rating in a research report on Wednesday, July 3rd. Zacks Investment Research lowered shares of First Merchants from a hold rating to a sell rating in a research report on Monday, July 1st. Finally, TheStreet lowered shares of USD Partners from a b- rating to a c+ rating in a research report on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $3.83.

Shares of CRNT opened at $2.57 on Friday. Ceragon Networks has a 12 month low of $2.52 and a 12 month high of $5.04. The stock’s 50 day simple moving average is $2.84. The company has a market capitalization of $205.96 million, a PE ratio of 14.28, a PEG ratio of 0.78 and a beta of 1.28.

Ceragon Networks (NASDAQ:CRNT) last announced its earnings results on Monday, May 6th. The communications equipment provider reported $0.03 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.03. The company had revenue of $69.16 million for the quarter, compared to analysts’ expectations of $73.74 million. Ceragon Networks had a net margin of 6.61% and a return on equity of 9.63%. Research analysts predict that Ceragon Networks will post 0.22 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the company. BlackRock Inc. lifted its stake in Ceragon Networks by 34.4% in the 4th quarter. BlackRock Inc. now owns 130,328 shares of the communications equipment provider’s stock valued at $493,000 after purchasing an additional 33,344 shares during the last quarter. GSA Capital Partners LLP lifted its stake in Ceragon Networks by 12.4% in the 4th quarter. GSA Capital Partners LLP now owns 134,911 shares of the communications equipment provider’s stock valued at $510,000 after purchasing an additional 14,900 shares during the last quarter. Menta Capital LLC lifted its stake in Ceragon Networks by 24.5% in the 4th quarter. Menta Capital LLC now owns 317,172 shares of the communications equipment provider’s stock valued at $1,199,000 after purchasing an additional 62,467 shares during the last quarter. Two Sigma Investments LP lifted its stake in Ceragon Networks by 168.0% in the 4th quarter. Two Sigma Investments LP now owns 621,055 shares of the communications equipment provider’s stock valued at $2,348,000 after purchasing an additional 389,309 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its stake in Ceragon Networks by 50.9% in the 4th quarter. Two Sigma Advisers LP now owns 453,600 shares of the communications equipment provider’s stock valued at $1,715,000 after purchasing an additional 153,100 shares during the last quarter. Institutional investors own 20.83% of the company’s stock.

About Ceragon Networks

Ceragon Networks Ltd. provides wireless backhaul solutions that enable cellular operators and other wireless service providers to deliver voice and data services worldwide. Its wireless backhaul solutions use microwave and millimeter wave technology to transfer telecommunication traffic between base stations, small sells, and the core of the service provider's network.

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Analyst Recommendations for Ceragon Networks (NASDAQ:CRNT)

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