Ceragon Networks (CRNT) Reaches New 52-Week High at $5.04

Shares of Ceragon Networks Ltd (NASDAQ:CRNT) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $5.04 and last traded at $4.71, with a volume of 1435219 shares. The stock had previously closed at $4.83.

Several analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Ceragon Networks from a “hold” rating to a “buy” rating and set a $5.00 target price on the stock in a research note on Thursday. BidaskClub upgraded shares of Ceragon Networks from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 8th. Needham & Company LLC cut shares of Ceragon Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, November 28th. They noted that the move was a valuation call. Finally, Oppenheimer set a $5.00 target price on shares of Ceragon Networks and gave the stock a “buy” rating in a research note on Monday, December 10th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Ceragon Networks presently has an average rating of “Buy” and a consensus target price of $4.73.

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The company has a market capitalization of $369.60 million, a PE ratio of 26.28, a P/E/G ratio of 1.31 and a beta of 1.11.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Panagora Asset Management Inc. lifted its stake in Ceragon Networks by 1,581.7% in the 3rd quarter. Panagora Asset Management Inc. now owns 36,475 shares of the communications equipment provider’s stock worth $123,000 after purchasing an additional 34,306 shares in the last quarter. Jane Street Group LLC raised its position in shares of Ceragon Networks by 221.1% during the 2nd quarter. Jane Street Group LLC now owns 50,518 shares of the communications equipment provider’s stock valued at $180,000 after buying an additional 34,787 shares in the last quarter. Harvest Management LLC raised its position in shares of Ceragon Networks by 5.8% during the 4th quarter. Harvest Management LLC now owns 58,200 shares of the communications equipment provider’s stock valued at $220,000 after buying an additional 3,200 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Ceragon Networks during the 2nd quarter valued at $286,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Ceragon Networks during the 3rd quarter valued at $404,000. Institutional investors and hedge funds own 22.72% of the company’s stock.

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About Ceragon Networks (NASDAQ:CRNT)

Ceragon Networks Ltd. provides wireless backhaul solutions that enable cellular operators and other wireless service providers to deliver voice and data services worldwide. Its wireless backhaul solutions use microwave radio technology to transfer telecommunication traffic between base stations, small sells, and the core of the service provider's network.

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