150,000 Shares in Ceragon Networks Ltd. (NASDAQ:CRNT) Bought by Aristides Capital LLC

Aristides Capital LLC acquired a new position in Ceragon Networks Ltd. (NASDAQ:CRNT) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 150,000 shares of the communications equipment provider’s stock, valued at approximately $700,000.

Other hedge funds have also modified their holdings of the company. Walleye Capital LLC raised its holdings in Ceragon Networks by 95.1% in the 3rd quarter. Walleye Capital LLC now owns 283,933 shares of the communications equipment provider’s stock worth $778,000 after purchasing an additional 138,411 shares during the period. Inspire Investing LLC purchased a new position in shares of Ceragon Networks during the 4th quarter valued at approximately $903,000. JPMorgan Chase & Co. acquired a new stake in Ceragon Networks in the 3rd quarter valued at $104,000. Perigon Wealth Management LLC purchased a new stake in Ceragon Networks in the 4th quarter worth $90,000. Finally, Navellier & Associates Inc. acquired a new position in Ceragon Networks during the fourth quarter worth $1,804,000. 13.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. StockNews.com cut shares of Ceragon Networks from a “buy” rating to a “hold” rating in a research note on Thursday, March 20th. Needham & Company LLC reissued a “buy” rating and set a $6.00 target price on shares of Ceragon Networks in a report on Wednesday, February 12th. Finally, Craig Hallum started coverage on Ceragon Networks in a research report on Thursday, March 13th. They issued a “buy” rating and a $5.00 target price on the stock. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $6.38.

Ceragon Networks Trading Down 5.0 %

CRNT stock opened at $2.10 on Friday. The firm has a 50-day moving average of $3.20 and a two-hundred day moving average of $3.46. Ceragon Networks Ltd. has a 12 month low of $2.02 and a 12 month high of $5.73. The company has a market cap of $186.56 million, a price-to-earnings ratio of 7.78 and a beta of 1.60.

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.