Renaissance Technologies LLC raised its position in Ceragon Networks Ltd. (NASDAQ:CRNT - Free Report) by 47.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,333,295 shares of the communications equipment provider's stock after purchasing an additional 426,760 shares during the quarter. Renaissance Technologies LLC owned 1.56% of Ceragon Networks worth $6,226,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the company. Inspire Investing LLC bought a new stake in Ceragon Networks during the 4th quarter worth approximately $903,000. JPMorgan Chase & Co. bought a new position in Ceragon Networks during the 3rd quarter worth $104,000. Perigon Wealth Management LLC bought a new position in Ceragon Networks during the 4th quarter worth $90,000. Commonwealth Equity Services LLC acquired a new position in Ceragon Networks during the 4th quarter worth about $58,000. Finally, Navellier & Associates Inc. bought a new stake in shares of Ceragon Networks in the 4th quarter valued at about $1,804,000. 13.31% of the stock is owned by institutional investors and hedge funds.
Ceragon Networks Stock Performance
Shares of Ceragon Networks stock traded up $0.08 on Thursday, reaching $2.15. 315,307 shares of the company's stock were exchanged, compared to its average volume of 1,046,829. The firm's 50-day moving average is $2.50 and its two-hundred day moving average is $3.40. The company has a market capitalization of $190.75 million, a P/E ratio of 7.94 and a beta of 1.60. Ceragon Networks Ltd. has a 52 week low of $1.95 and a 52 week high of $5.73.
Analyst Ratings Changes
CRNT has been the topic of a number of recent analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $6.00 price objective on shares of Ceragon Networks in a research note on Wednesday, February 12th. Craig Hallum began coverage on shares of Ceragon Networks in a research report on Thursday, March 13th. They issued a "buy" rating and a $5.00 price target on the stock. Finally, StockNews.com raised shares of Ceragon Networks from a "hold" rating to a "buy" rating in a research note on Wednesday, April 9th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Ceragon Networks presently has a consensus rating of "Buy" and an average price target of $6.38.
Check Out Our Latest Report on CRNT
About Ceragon Networks
(
Free Report)
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.
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