Bravias Capital Group LLC Purchases New Stake in Ceragon Networks Ltd. (NASDAQ:CRNT)

Bravias Capital Group LLC acquired a new position in shares of Ceragon Networks Ltd. (NASDAQ:CRNT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,500 shares of the communications equipment provider’s stock, valued at approximately $71,000.

Several other institutional investors have also recently bought and sold shares of CRNT. Navellier & Associates Inc. bought a new stake in shares of Ceragon Networks during the fourth quarter worth about $1,804,000. Walleye Capital LLC boosted its stake in 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 during the last quarter. Inspire Investing LLC bought a new stake in Ceragon Networks during the 4th quarter worth approximately $903,000. XTX Topco Ltd purchased a new stake in shares of Ceragon Networks in the third quarter worth approximately $152,000. Finally, State of New Jersey Common Pension Fund D bought a new position in shares of Ceragon Networks in the fourth quarter valued at approximately $182,000. Institutional investors and hedge funds own 13.31% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CRNT. Litchfield Hills Research started coverage on Ceragon Networks in a report on Tuesday, December 3rd. They set a “buy” rating and a $10.00 price target for the company. Needham & Company LLC reissued a “buy” rating and issued a $6.00 price objective on shares of Ceragon Networks in a research report on Wednesday, February 12th. Finally, StockNews.com lowered Ceragon Networks from a “buy” rating to a “hold” rating in a research report on Thursday. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $6.83.

Ceragon Networks Stock Down 0.4 %

NASDAQ CRNT opened at $2.79 on Monday. The company’s 50 day moving average is $4.35 and its 200-day moving average is $3.53. The firm has a market cap of $238.32 million, a P/E ratio of 10.33 and a beta of 1.59. Ceragon Networks Ltd. has a 12-month low of $2.33 and a 12-month high of $5.73.

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.