Squarepoint Ops LLC Buys 202,790 Shares of Ceragon Networks Ltd. (NASDAQ:CRNT)

Squarepoint Ops LLC grew its holdings in Ceragon Networks Ltd. (NASDAQ:CRNT - Free Report) by 429.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 250,000 shares of the communications equipment provider's stock after buying an additional 202,790 shares during the quarter. Squarepoint Ops LLC owned 0.29% of Ceragon Networks worth $1,168,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in CRNT. JPMorgan Chase & Co. acquired a new position in shares of Ceragon Networks in the 3rd quarter valued at $104,000. Perigon Wealth Management LLC acquired a new stake in shares of Ceragon Networks during the 4th quarter worth about $90,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Ceragon Networks during the 4th quarter worth about $166,000. State of New Jersey Common Pension Fund D acquired a new stake in shares of Ceragon Networks during the 4th quarter worth about $182,000. Finally, Navellier & Associates Inc. acquired a new stake in shares of Ceragon Networks during the 4th quarter worth about $1,804,000. Institutional investors and hedge funds own 13.31% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on CRNT shares. Craig Hallum started coverage on shares of Ceragon Networks in a research note on Thursday, March 13th. They issued a "buy" rating and a $5.00 target price on the stock. Needham & Company LLC reduced their target price on shares of Ceragon Networks from $6.00 to $4.50 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Finally, Wall Street Zen lowered shares of Ceragon Networks from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $6.00.

Ceragon Networks Stock Down 2.2%

Ceragon Networks stock traded down $0.05 during midday trading on Friday, hitting $2.26. 473,313 shares of the stock were exchanged, compared to its average volume of 1,086,079. The company has a fifty day simple moving average of $2.24 and a two-hundred day simple moving average of $3.36. Ceragon Networks Ltd. has a 52 week low of $1.95 and a 52 week high of $5.73. The stock has a market capitalization of $200.98 million, a PE ratio of 8.37 and a beta of 1.04.

Ceragon Networks (NASDAQ:CRNT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The communications equipment provider reported $0.02 earnings per share for the quarter, meeting analysts' consensus estimates of $0.02. Ceragon Networks had a net margin of 6.10% and a return on equity of 21.32%. As a group, equities research analysts anticipate that Ceragon Networks Ltd. will post 0.26 EPS for the current fiscal year.

About Ceragon Networks

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.