Commonwealth of Pennsylvania Public School Empls Retrmt SYS Invests $81,000 in Ceragon Networks Ltd. (NASDAQ:CRNT)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Ceragon Networks Ltd. (NASDAQ:CRNT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 17,336 shares of the communications equipment provider’s stock, valued at approximately $81,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Walleye Capital LLC grew its position in shares of Ceragon Networks by 95.1% during the 3rd quarter. Walleye Capital LLC now owns 283,933 shares of the communications equipment provider’s stock valued at $778,000 after purchasing an additional 138,411 shares in the last quarter. Inspire Investing LLC bought a new stake in Ceragon Networks during the fourth quarter valued at $903,000. JPMorgan Chase & Co. purchased a new position in Ceragon Networks during the third quarter worth about $104,000. Perigon Wealth Management LLC bought a new position in Ceragon Networks in the 4th quarter worth about $90,000. Finally, Navellier & Associates Inc. purchased a new stake in shares of Ceragon Networks in the 4th quarter valued at about $1,804,000. Institutional investors own 13.31% of the company’s stock.

Ceragon Networks Price Performance

Shares of CRNT opened at $2.42 on Friday. The firm has a market cap of $206.71 million, a P/E ratio of 8.96 and a beta of 1.62. Ceragon Networks Ltd. has a 1 year low of $2.33 and a 1 year high of $5.73. The stock has a 50 day simple moving average of $3.49 and a two-hundred day simple moving average of $3.48.

Analysts Set New Price Targets

Several brokerages have recently commented on CRNT. Litchfield Hills Research began coverage on Ceragon Networks in a report on Tuesday, December 3rd. They set a “buy” rating and a $10.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and issued a $6.00 price target on shares of Ceragon Networks in a research note on Wednesday, February 12th. Craig Hallum initiated coverage on shares of Ceragon Networks in a report on Thursday, March 13th. They issued a “buy” rating and a $5.00 price target on the stock. Finally, StockNews.com downgraded shares of Ceragon Networks from a “buy” rating to a “hold” rating in a report on Thursday, March 20th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Ceragon Networks currently has an average rating of “Buy” and a consensus target price of $6.38.

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.