Inspire Investing LLC Purchases New Position in Ceragon Networks Ltd. (NASDAQ:CRNT)

Inspire Investing LLC purchased a new stake in Ceragon Networks Ltd. (NASDAQ:CRNTFree Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 193,366 shares of the communications equipment provider’s stock, valued at approximately $903,000.

Several other hedge funds have also bought and sold shares of the stock. Renaissance Technologies LLC lifted its stake in shares of Ceragon Networks by 35.4% in the 2nd quarter. Renaissance Technologies LLC now owns 643,816 shares of the communications equipment provider’s stock valued at $1,610,000 after purchasing an additional 168,416 shares during the period. Walleye Capital LLC grew its position in Ceragon Networks by 95.1% during the third quarter. Walleye Capital LLC now owns 283,933 shares of the communications equipment provider’s stock valued at $778,000 after buying an additional 138,411 shares during the period. XTX Topco Ltd purchased a new position in Ceragon Networks in the third quarter valued at $152,000. JPMorgan Chase & Co. acquired a new position in shares of Ceragon Networks in the third quarter worth about $104,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Ceragon Networks during the 2nd quarter worth about $56,000. Hedge funds and other institutional investors own 13.31% of the company’s stock.

Ceragon Networks Price Performance

NASDAQ CRNT opened at $5.09 on Friday. The stock’s 50 day simple moving average is $4.44 and its 200-day simple moving average is $3.29. The company has a market cap of $434.79 million, a PE ratio of 23.14 and a beta of 1.60. Ceragon Networks Ltd. has a 1-year low of $2.33 and a 1-year high of $5.73.

Analyst Upgrades and Downgrades

CRNT has been the subject of a number of analyst reports. Roth Capital raised Ceragon Networks to a “strong-buy” rating in a report on Monday, October 28th. Litchfield Hills Research started coverage on Ceragon Networks in a research report on Tuesday, December 3rd. They set a “buy” rating and a $10.00 target price on the stock. Roth Mkm assumed coverage on shares of Ceragon Networks in a report on Monday, October 28th. They issued a “buy” rating and a $4.50 price target for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $6.00 price objective on shares of Ceragon Networks in a research report on Thursday, January 16th. Three analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $6.83.

Check Out Our Latest Research Report on CRNT

Ceragon Networks Company Profile

(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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Institutional Ownership by Quarter for Ceragon Networks (NASDAQ:CRNT)

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