Ceragon Networks’ (CRNT) “Buy” Rating Reiterated at Needham & Company LLC

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

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

Ceragon Networks Stock Performance

CRNT stock opened at $3.46 on Wednesday. The company’s 50 day moving average price is $4.65 and its 200 day moving average price is $3.50. Ceragon Networks has a fifty-two week low of $2.33 and a fifty-two week high of $5.73. The firm has a market capitalization of $295.55 million, a price-to-earnings ratio of 15.73 and a beta of 1.59.

Institutional Investors Weigh In On Ceragon Networks

Large investors have recently modified their holdings of the company. Penn Capital Management Company LLC acquired a new stake in shares of Ceragon Networks in the fourth quarter valued at approximately $54,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Ceragon Networks in the second quarter valued at approximately $56,000. Commonwealth Equity Services LLC acquired a new stake in shares of Ceragon Networks in the fourth quarter valued at approximately $58,000. Bravias Capital Group LLC acquired a new stake in shares of Ceragon Networks in the fourth quarter valued at approximately $71,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Ceragon Networks in the fourth quarter valued at approximately $81,000. 13.31% of the stock is owned by institutional investors and hedge funds.

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.