Ceragon Networks (NASDAQ:CRNT) Earns Buy Rating from Analysts at Litchfield Hills Research

Investment analysts at Litchfield Hills Research started coverage on shares of Ceragon Networks (NASDAQ:CRNT) in a report released 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 objective points to a potential upside of 132.56% from the company’s current price.

CRNT has been the topic of a number of other reports. Roth Mkm assumed coverage on Ceragon Networks in a report on Monday, October 28th. They set a “buy” rating and a $4.50 price target on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $5.25 price target on shares of Ceragon Networks in a report on Thursday, August 8th. Finally, Roth Capital raised shares of Ceragon Networks to a “strong-buy” rating in a research report on Monday, October 28th. Three research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $6.58.

Ceragon Networks Trading Up 3.4 %

CRNT stock traded up $0.14 during trading on Tuesday, reaching $4.30. The stock had a trading volume of 489,981 shares, compared to its average volume of 544,279. The stock’s 50 day moving average is $2.84 and its two-hundred day moving average is $2.74. The firm has a market cap of $367.31 million, a PE ratio of 19.55 and a beta of 1.61. Ceragon Networks has a 52 week low of $1.80 and a 52 week high of $4.70.

Institutional Trading of Ceragon Networks

A number of institutional investors have recently modified their holdings of CRNT. Sei Investments Co. boosted its stake in Ceragon Networks by 45.7% in the second 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. WINTON GROUP Ltd acquired a new position in Ceragon Networks in the second quarter worth about $26,000. Cubist Systematic Strategies LLC bought a new stake in Ceragon Networks in the second quarter valued at about $56,000. XTX Topco Ltd acquired a new stake in Ceragon Networks during the third quarter valued at approximately $152,000. Finally, Walleye Capital LLC lifted its holdings in Ceragon Networks by 95.1% during the 3rd quarter. Walleye Capital LLC now owns 283,933 shares of the communications equipment provider’s stock worth $778,000 after buying an additional 138,411 shares during the last quarter. 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.