Ceragon Networks (NASDAQ:CRNT) Now Covered by Craig Hallum

Craig Hallum started coverage on shares of Ceragon Networks (NASDAQ:CRNT) in a report released on Thursday morning, Marketbeat.com reports. The firm issued a buy rating and a $5.00 price objective on the communications equipment provider’s stock.

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

Ceragon Networks Trading Up 4.0 %

Shares of CRNT opened at $2.59 on Thursday. Ceragon Networks has a 12 month low of $2.33 and a 12 month high of $5.73. The firm’s 50 day moving average is $4.00 and its 200-day moving average is $3.51. The stock has a market capitalization of $221.23 million, a PE ratio of 9.59 and a beta of 1.62.

Hedge Funds Weigh In On Ceragon Networks

A number of institutional investors have recently modified their holdings of CRNT. Hillsdale Investment Management Inc. grew its position in Ceragon Networks by 3.9% in the fourth quarter. Hillsdale Investment Management Inc. now owns 80,800 shares of the communications equipment provider’s stock valued at $377,000 after acquiring an additional 3,000 shares during the last quarter. Algert Global LLC boosted its stake in shares of Ceragon Networks by 32.2% in the 4th quarter. Algert Global LLC now owns 46,454 shares of the communications equipment provider’s stock valued at $217,000 after purchasing an additional 11,310 shares in the last quarter. Penn Capital Management Company LLC acquired a new stake in shares of Ceragon Networks in the 4th quarter valued at approximately $54,000. Commonwealth Equity Services LLC bought a new stake in shares of Ceragon Networks during the 4th quarter valued at approximately $58,000. Finally, Sei Investments Co. increased its position in Ceragon Networks by 21.6% during the 4th quarter. Sei Investments Co. now owns 78,180 shares of the communications equipment provider’s stock worth $365,000 after purchasing an additional 13,909 shares in the last quarter. Institutional investors and hedge funds 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.