Navellier & Associates Inc. purchased a new stake in Ceragon Networks Ltd. (NASDAQ:CRNT - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 386,197 shares of the communications equipment provider's stock, valued at approximately $1,804,000. Navellier & Associates Inc. owned 0.45% of Ceragon Networks at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in CRNT. Perigon Wealth Management LLC acquired a new position in Ceragon Networks in the 4th quarter valued at $90,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in Ceragon Networks in the fourth quarter valued at about $166,000. JPMorgan Chase & Co. acquired a new position in Ceragon Networks in the third quarter valued at about $104,000. State of New Jersey Common Pension Fund D bought a new stake in Ceragon Networks during the fourth quarter worth about $182,000. Finally, XTX Topco Ltd acquired a new stake in Ceragon Networks during the third quarter worth about $152,000. Institutional investors and hedge funds own 13.31% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on CRNT. Litchfield Hills Research assumed coverage on shares of Ceragon Networks in a research report on Tuesday, December 3rd. They issued a "buy" rating and a $10.00 target price 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 note on Wednesday, February 12th. Finally, StockNews.com cut Ceragon Networks from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 13th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $6.83.
Get Our Latest Report on CRNT
Ceragon Networks Stock Up 1.0 %
Shares of CRNT stock traded up $0.03 on Wednesday, reaching $2.98. The company had a trading volume of 1,554,083 shares, compared to its average volume of 2,614,770. The business's 50-day moving average is $4.44 and its 200 day moving average is $3.53. Ceragon Networks Ltd. has a one year low of $2.33 and a one year high of $5.73. The stock has a market capitalization of $254.55 million, a PE ratio of 11.04 and a beta of 1.59.
Ceragon Networks Profile
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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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