Ceragon Networks (NASDAQ:CRNT) Upgraded to Strong-Buy by StockNews.com

Ceragon Networks (NASDAQ:CRNT) Upgraded to Strong-Buy by StockNews.com

Ceragon Networks logoCeragon Networks (NASDAQ:CRNT – Get Rating) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Tuesday.

Ceragon Networks Stock Performance

CRNT stock opened at $2.02 on Tuesday. Ceragon Networks has a fifty-two week low of $1.55 and a fifty-two week high of $2.87. The business’s 50-day moving average is $1.84 and its two-hundred day moving average is $1.88. The company has a market cap of $170.23 million, a price-to-earnings ratio of -50.50 and a beta of 1.36.

Ceragon Networks (NASDAQ:CRNT – Get Rating) last posted its quarterly earnings data on Monday, May 1st. The communications equipment provider reported $0.03 EPS for the quarter. Ceragon Networks had a positive return on equity of 0.84% ​​and a negative net margin of 1.02%. The firm had revenue of $83.41 million for the quarter.

Institutional Inflows and Outflows

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Several institutional investors have recently made changes to their positions in the stock. Arete Wealth Advisors LLC bought a new stake in Ceragon Networks during the 1st quarter valued at approximately $142,000. Susquehanna International Group LLP bought a new stake in Ceragon Networks during the 1st quarter valued at approximately $25,000. First Wilshire Securities Management Inc. raised its stake in Ceragon Networks by 4.3% during the 1st quarter. First Wilshire Securities Management Inc. now owns 2,516,281 shares of the communications equipment provider’s stock valued at $4,202,000 after purchasing an additional 104,146 shares during the period. Renaissance Technologies LLC raised its stake in Ceragon Networks by 125.7% during the 1st quarter. Renaissance Technologies LLC now owns 318,835 shares of the communications equipment provider’s stock valued at $532,000 after purchasing an additional 177,572 shares during the period. Finally, Smith Moore & CO. bought a new stake in Ceragon Networks during the 1st quarter valued at approximately $60,000. Institutional investors own 13.53% of the company’s stock.

Ceragon Networks Company Profile

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Ceragon Networks Ltd. engages in the provision of wireless backhaul and fronthaul solutions. Its products include IP-50, IP-20, IP-20 Assured, Pointlink Stabilized Platforms, and Network & Service Management. The company was founded on July 23, 1996 and is headquartered in Tel Aviv, Israel.

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