CreativeOne Wealth LLC Buys New Shares in Ceragon Networks Ltd. (NASDAQ:CRNT)

CreativeOne Wealth LLC purchased a new position in shares of Ceragon Networks Ltd. (NASDAQ:CRNT) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 36,773 shares of the communications equipment provider’s stock, valued at approximately $172,000.

Several other hedge funds have also recently made changes to their positions in CRNT. Renaissance Technologies LLC increased its holdings in Ceragon Networks by 47.1% in the fourth quarter. Renaissance Technologies LLC now owns 1,333,295 shares of the communications equipment provider’s stock worth $6,226,000 after purchasing an additional 426,760 shares in the last quarter. Navellier & Associates Inc. bought a new position in Ceragon Networks during the fourth quarter worth $1,804,000. JPMorgan Chase & Co. grew its holdings in Ceragon Networks by 481.7% in the fourth quarter. JPMorgan Chase & Co. now owns 221,539 shares of the communications equipment provider’s stock worth $1,035,000 after purchasing an additional 183,452 shares during the period. Inspire Investing LLC bought a new stake in Ceragon Networks in the fourth quarter valued at $903,000. Finally, WealthTrust Axiom LLC increased its position in Ceragon Networks by 61.7% in the 4th quarter. WealthTrust Axiom LLC now owns 178,150 shares of the communications equipment provider’s stock valued at $832,000 after buying an additional 68,000 shares in the last quarter. 13.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CRNT shares. Craig Hallum began coverage on Ceragon Networks in a report on Thursday, March 13th. They issued a “buy” rating and a $5.00 target price on the stock. StockNews.com raised shares of Ceragon Networks from a “hold” rating to a “buy” rating in a research report on Wednesday, April 9th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $6.00 price objective on shares of Ceragon Networks in a research note on Wednesday, February 12th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Ceragon Networks presently has a consensus rating of “Buy” and an average target price of $6.38.

Ceragon Networks Stock Performance

Shares of CRNT stock opened at $2.01 on Tuesday. Ceragon Networks Ltd. has a 52-week low of $1.95 and a 52-week high of $5.73. The company has a 50-day simple moving average of $2.55 and a two-hundred day simple moving average of $3.42. The company has a market capitalization of $178.75 million, a price-to-earnings ratio of 7.44 and a beta of 1.60.

Ceragon Networks 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.