Millrace Asset Group Inc. Sells 134,263 Shares of Ceragon Networks Ltd. (NASDAQ:CRNT)

Millrace Asset Group Inc. lessened its stake in Ceragon Networks Ltd. (NASDAQ:CRNT - Free Report) by 35.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 248,440 shares of the communications equipment provider's stock after selling 134,263 shares during the quarter. Millrace Asset Group Inc. owned 0.29% of Ceragon Networks worth $681,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CRNT. Acadian Asset Management LLC increased its stake in shares of Ceragon Networks by 25.7% in the second quarter. Acadian Asset Management LLC now owns 1,955,161 shares of the communications equipment provider's stock worth $4,878,000 after acquiring an additional 400,161 shares during the last quarter. Lazard Asset Management LLC increased its position in Ceragon Networks by 9,906.9% in the 1st quarter. Lazard Asset Management LLC now owns 94,765 shares of the communications equipment provider's stock worth $303,000 after purchasing an additional 93,818 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Ceragon Networks during the 2nd quarter worth about $56,000. WINTON GROUP Ltd acquired a new stake in shares of Ceragon Networks during the 2nd quarter valued at about $26,000. Finally, Sei Investments Co. lifted its holdings in shares of Ceragon Networks by 45.7% during the 2nd quarter. Sei Investments Co. now owns 27,423 shares of the communications equipment provider's stock valued at $69,000 after buying an additional 8,607 shares during the last quarter. Hedge funds and other institutional investors own 13.31% of the company's stock.

Wall Street Analyst Weigh In

CRNT has been the subject of several recent research reports. Needham & Company LLC reissued a "buy" rating and issued a $5.25 target price on shares of Ceragon Networks in a research report on Thursday, August 8th. Roth Capital upgraded shares of Ceragon Networks to a "strong-buy" rating in a report on Monday, October 28th. Finally, Roth Mkm initiated coverage on shares of Ceragon Networks in a research report on Monday, October 28th. They set a "buy" rating and a $4.50 target price on the stock. Two analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Strong Buy" and a consensus price target of $4.88.

Ceragon Networks Stock Up 1.5 %

CRNT stock traded up $0.06 during mid-day trading on Tuesday, reaching $4.12. 2,539,729 shares of the stock traded hands, compared to its average volume of 516,796. The firm has a market capitalization of $351.93 million, a PE ratio of 18.50 and a beta of 1.35. The business has a 50-day moving average of $2.68 and a two-hundred day moving average of $2.68. Ceragon Networks Ltd. has a 52 week low of $1.79 and a 52 week high of $4.16.

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.