Commonwealth of Pennsylvania Public School Empls Retrmt SYS Takes Position in Ceragon Networks Ltd. (NASDAQ:CRNT)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Ceragon Networks Ltd. (NASDAQ:CRNT) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 17,336 shares of the communications equipment provider’s stock, valued at approximately $81,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Navellier & Associates Inc. purchased a new stake in shares of Ceragon Networks during the fourth quarter valued at approximately $1,804,000. Walleye Capital LLC raised its holdings 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 buying an additional 138,411 shares during the last quarter. Inspire Investing LLC purchased a new stake in Ceragon Networks during the 4th quarter valued at $903,000. XTX Topco Ltd bought a new stake in Ceragon Networks in the 3rd quarter worth $152,000. Finally, State of New Jersey Common Pension Fund D purchased a new position in shares of Ceragon Networks in the fourth quarter valued at about $182,000. 13.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Ceragon Networks Trading Down 2.8 %

CRNT opened at $2.42 on Friday. The company has a market cap of $206.71 million, a price-to-earnings ratio of 8.96 and a beta of 1.62. The stock has a fifty day simple moving average of $3.49 and a two-hundred day simple moving average of $3.48. Ceragon Networks Ltd. has a 12-month low of $2.33 and a 12-month high of $5.73.

Ceragon Networks Company 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.