Two Sigma Investments LP Has $1.39 Million Stake in Ceragon Networks Ltd. (NASDAQ:CRNT)

Two Sigma Investments LP boosted its holdings in shares of Ceragon Networks Ltd. (NASDAQ:CRNT - Free Report) by 951.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 296,588 shares of the communications equipment provider's stock after acquiring an additional 268,388 shares during the period. Two Sigma Investments LP owned approximately 0.35% of Ceragon Networks worth $1,385,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Penn Capital Management Company LLC bought a new stake in shares of Ceragon Networks in the fourth quarter valued at about $54,000. Commonwealth Equity Services LLC bought a new stake in Ceragon Networks during the fourth quarter worth about $58,000. Bravias Capital Group LLC bought a new stake in Ceragon Networks during the fourth quarter worth about $71,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Ceragon Networks during the fourth quarter worth about $81,000. Finally, Perigon Wealth Management LLC bought a new stake in Ceragon Networks during the fourth quarter worth about $90,000. 13.31% of the stock is currently owned by institutional investors.

Ceragon Networks Trading Up 3.0%

Shares of CRNT traded up $0.07 during mid-day trading on Friday, reaching $2.44. The company's stock had a trading volume of 676,039 shares, compared to its average volume of 1,090,339. Ceragon Networks Ltd. has a 1-year low of $1.95 and a 1-year high of $5.73. The stock has a market cap of $216.99 million, a P/E ratio of 9.04 and a beta of 1.04. The business has a 50-day simple moving average of $2.24 and a two-hundred day simple moving average of $3.33.

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

Analysts Set New Price Targets

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

Ceragon Networks 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.