Ceragon Networks’ (CRNT) “Hold” Rating Reaffirmed at Oppenheimer Holdings, Inc.

Ceragon Networks Ltd. (NASDAQ:CRNT)‘s stock had its “hold” rating reaffirmed by equities research analysts at Oppenheimer Holdings, Inc. in a research report issued on Thursday, May 11th.

CRNT has been the subject of a number of other reports. Jefferies Group LLC upped their price target on shares of Ceragon Networks from $2.50 to $3.00 and gave the company a “hold” rating in a report on Thursday, January 19th. TheStreet upgraded shares of Ceragon Networks from a “c” rating to a “b-” rating in a report on Wednesday, February 15th. Zacks Investment Research upgraded shares of Ceragon Networks from a “hold” rating to a “strong-buy” rating and set a $3.75 price target for the company in a report on Friday, January 20th. Finally, Needham & Company LLC cut shares of Ceragon Networks from a “buy” rating to a “hold” rating in a report on Tuesday, January 17th. Four investment analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and a consensus price target of $3.25.

Ceragon Networks (NASDAQ CRNT) opened at 2.54 on Thursday. Ceragon Networks has a 52 week low of $1.44 and a 52 week high of $4.23. The firm’s 50 day moving average price is $3.03 and its 200-day moving average price is $3.19. The firm has a market cap of $197.60 million, a PE ratio of 16.82 and a beta of 1.13.

Ceragon Networks (NASDAQ:CRNT) last posted its earnings results on Thursday, May 11th. The communications equipment provider reported $0.01 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.01. The firm had revenue of $76.02 million for the quarter, compared to the consensus estimate of $74.09 million. Ceragon Networks had a net margin of 3.79% and a return on equity of 10.27%. The business’s quarterly revenue was up 27.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.10 earnings per share. On average, analysts forecast that Ceragon Networks will post $0.21 EPS for the current year.

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A number of large investors have recently added to or reduced their stakes in the stock. Renaissance Group LLC boosted its stake in Ceragon Networks by 23.8% in the fourth quarter. Renaissance Group LLC now owns 138,969 shares of the communications equipment provider’s stock worth $364,000 after buying an additional 26,705 shares during the period. Essex Investment Management Co. LLC boosted its stake in Ceragon Networks by 32.8% in the first quarter. Essex Investment Management Co. LLC now owns 386,599 shares of the communications equipment provider’s stock worth $1,264,000 after buying an additional 95,473 shares during the period. Russell Investments Group Ltd. purchased a new stake in Ceragon Networks during the fourth quarter worth about $143,000. Norges Bank bought a new stake in Ceragon Networks during the fourth quarter valued at $1,291,000. Finally, Renaissance Technologies LLC boosted its stake in Ceragon Networks by 12.3% in the fourth quarter. Renaissance Technologies LLC now owns 2,335,470 shares of the communications equipment provider’s stock valued at $6,119,000 after buying an additional 254,990 shares during the last quarter. Institutional investors own 21.67% of the company’s stock.

About Ceragon Networks

Ceragon Networks Ltd. offers wireless backhaul solutions. The Company’s products include FibeAir IP-20 Platform, FibeAir IP-20 Assured Platform and Network Management. The Company provides its services to wireless service providers, public safety organizations, government agencies and utility companies, among others.

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