KLCM Advisors Inc. Invests $1.87 Million in Ceragon Networks Ltd. $CRNT

Key Points

• KLCM Advisors Inc. has acquired a new investment in Ceragon Networks, purchasing 795,973 shares valued at approximately $1.87 million, representing 0.90% ownership.
• Analysts have revised price targets for Ceragon Networks, with Needham & Company lowering it from $4.50 to $3.00, and the consensus rating is currently a "Moderate Buy" with an average price target of $5.30.
• Ceragon Networks has shown significant price fluctuations with a 12-month low of $1.82 and a high of $5.73, and it currently has a market capitalization of $180.53 million.

KLCM Advisors Inc. purchased a new position in Ceragon Networks Ltd. (NASDAQ:CRNT - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 795,973 shares of the communications equipment provider's stock, valued at approximately $1,871,000. KLCM Advisors Inc. owned about 0.90% of Ceragon Networks as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in CRNT. LPL Financial LLC acquired a new position in shares of Ceragon Networks in the fourth quarter worth $109,000. JPMorgan Chase & Co. raised its holdings in shares of Ceragon Networks by 481.7% in the fourth quarter. JPMorgan Chase & Co. now owns 221,539 shares of the communications equipment provider's stock worth $1,035,000 after acquiring an additional 183,452 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Ceragon Networks by 1,419.4% in the fourth quarter. Wells Fargo & Company MN now owns 23,550 shares of the communications equipment provider's stock worth $110,000 after acquiring an additional 22,000 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Ceragon Networks in the fourth quarter worth $526,000. Finally, Renaissance Technologies LLC grew its position in shares of Ceragon Networks by 47.1% in the fourth quarter. Renaissance Technologies LLC now owns 1,333,295 shares of the communications equipment provider's stock valued at $6,226,000 after purchasing an additional 426,760 shares during the period. 13.31% of the stock is owned by institutional investors and hedge funds.

Ceragon Networks Price Performance

CRNT stock traded down $0.0750 during trading on Tuesday, reaching $1.8550. 520,021 shares of the stock traded hands, compared to its average volume of 1,326,275. The business's 50 day moving average price is $2.30 and its 200-day moving average price is $2.52. Ceragon Networks Ltd. has a 52-week low of $1.82 and a 52-week high of $5.73. The firm has a market capitalization of $164.97 million, a PE ratio of 11.59 and a beta of 1.00.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Needham & Company LLC lowered their price objective on Ceragon Networks from $4.50 to $3.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Wall Street Zen downgraded Ceragon Networks from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Finally, Roth Capital lowered their price objective on Ceragon Networks from $5.00 to $4.00 and set a "buy" rating for the company in a research report on Friday, July 18th. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $5.30.

Ceragon Networks Company Profile

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.