35,466 Shares in Ceragon Networks Ltd. (NASDAQ:CRNT) Bought by C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Ceragon Networks Ltd. (NASDAQ:CRNT) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 35,466 shares of the communications equipment provider’s stock, valued at approximately $166,000.

A number of other hedge funds have also modified their holdings of CRNT. Inspire Investing LLC purchased a new position in shares of Ceragon Networks during the fourth quarter valued at $903,000. Walleye Capital LLC grew its holdings in shares of Ceragon Networks by 95.1% during the third 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 in the last quarter. XTX Topco Ltd purchased a new position in shares of Ceragon Networks during the third quarter valued at $152,000. State of New Jersey Common Pension Fund D purchased a new position in shares of Ceragon Networks during the fourth quarter valued at $182,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of Ceragon Networks during the third quarter valued at $104,000. 13.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Litchfield Hills Research assumed coverage on Ceragon Networks in a report on Tuesday, December 3rd. They set a “buy” rating and a $10.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and set a $6.00 price target on shares of Ceragon Networks in a report on Wednesday, February 12th. Roth Mkm assumed coverage on Ceragon Networks in a research note on Monday, October 28th. They issued a “buy” rating and a $4.50 target price on the stock. StockNews.com downgraded Ceragon Networks from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 13th. Finally, Roth Capital upgraded Ceragon Networks to a “strong-buy” rating in a research note on Monday, October 28th. Four investment analysts have rated the stock with 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 target price of $6.83.

Ceragon Networks Price Performance

Shares of NASDAQ CRNT opened at $3.20 on Friday. The business’s 50-day moving average price is $4.54 and its two-hundred day moving average price is $3.51. Ceragon Networks Ltd. has a one year low of $2.33 and a one year high of $5.73. The company has a market capitalization of $273.34 million, a P/E ratio of 11.85 and a beta of 1.59.

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.