Inspire Investing LLC Buys Shares of 193,366 Ceragon Networks Ltd. (NASDAQ:CRNT)

Inspire Investing LLC purchased a new stake in Ceragon Networks Ltd. (NASDAQ:CRNT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 193,366 shares of the communications equipment provider's stock, valued at approximately $903,000. Inspire Investing LLC owned approximately 0.23% of Ceragon Networks as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CRNT. Renaissance Technologies LLC boosted its holdings in Ceragon Networks by 35.4% during the second 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 in the last quarter. Walleye Capital LLC grew its position in Ceragon Networks by 95.1% in the third quarter. Walleye Capital LLC now owns 283,933 shares of the communications equipment provider's stock valued at $778,000 after acquiring an additional 138,411 shares during the period. XTX Topco Ltd acquired a new position in Ceragon Networks during the third quarter worth $152,000. JPMorgan Chase & Co. bought a new position in shares of Ceragon Networks during the third quarter valued at $104,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Ceragon Networks in the 2nd quarter worth about $56,000. Institutional investors own 13.31% of the company's stock.

Ceragon Networks Price Performance

Shares of CRNT stock traded down $0.17 on Friday, reaching $4.92. 1,632,956 shares of the stock were exchanged, compared to its average volume of 2,420,853. The stock has a 50 day moving average price of $4.44 and a 200 day moving average price of $3.29. The stock has a market cap of $420.27 million, a PE ratio of 22.36 and a beta of 1.60. Ceragon Networks Ltd. has a one year low of $2.33 and a one year high of $5.73.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CRNT shares. Litchfield Hills Research initiated coverage on shares of Ceragon Networks in a research note on Tuesday, December 3rd. They issued a "buy" rating and a $10.00 target price for the company. Roth Capital raised Ceragon Networks to a "strong-buy" rating in a research note on Monday, October 28th. Needham & Company LLC restated a "buy" rating and issued a $6.00 target price on shares of Ceragon Networks in a research note on Thursday, January 16th. Finally, Roth Mkm started coverage on shares of Ceragon Networks in a research report on Monday, October 28th. They issued a "buy" rating and a $4.50 price objective for the company. Three equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $6.83.

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.