Craig Hallum Initiates Coverage on Ceragon Networks (NASDAQ:CRNT)

Investment analysts at Craig Hallum have started coverage on shares of Ceragon Networks (NASDAQ:CRNT) as of Thursday, according to a recent research report. The firm has awarded the stock a "buy" rating and has set a price target of $5.00 per share for the communications equipment provider. This target suggests a significant upside potential of 100.80% compared to the company's previous closing price.

A few other analysts have also recently shared their views on Ceragon Networks. On March 8th, StockNews.com downgraded the stock from a "buy" rating to a "hold" rating. Meanwhile, Needham & Company reaffirmed a "buy" rating while setting a price target of $6.00 in a report published on February 12th. Additionally, Litchfield Hills Research initiated coverage on Ceragon Networks on December 3rd, giving it a "buy" rating with a target price of $10.00. Overall, analysts' opinions on the stock have been mixed, with one rating it as a hold, four as buys, and one as a strong buy. The consensus among analysts is a "buy" rating, with an average target price set at $6.38.

Ceragon Networks Stock Performance

On Thursday, shares of Ceragon Networks opened at $2.49. Currently, the stock has a 50-day moving average of $4.00 and a 200-day moving average of $3.51. The market capitalization of the company stands at approximately $212.69 million, with a price-to-earnings ratio of 9.22 and a beta of 1.62. Ceragon Networks has recorded a 52-week low of $2.33 and a high of $5.73.

Institutional Investor Activity

Recent trading activity has shown that several hedge funds and institutional investors have either bought or sold shares of Ceragon Networks. In the fourth quarter, Penn Capital Management Company LLC purchased a new stake valued at $54,000. Commonwealth Equity Services LLC acquired a stake worth about $58,000, while Bravias Capital Group LLC also acquired shares valued at around $71,000. Further, Commonwealth of Pennsylvania Public School Employees Retirement System bought shares valued at approximately $81,000, and Perigon Wealth Management LLC invested about $90,000 during the same period. Institutional investors currently hold about 13.31% of the company's stock.

Overview of Ceragon Networks

Ceragon Networks Ltd., along with its subsidiaries, provides wireless transport solutions for cellular operators and various wireless service providers across multiple regions, including North America, Europe, Africa, Asia Pacific, the Middle East, India, and Latin America. The company's technology utilizes microwave and millimeter-wave radio systems to transmit telecommunications traffic between base stations, small or distributed cells, and the wider network of the service provider.

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