WealthTrust Axiom LLC Sells 7,550 Shares of Ceragon Networks Ltd. $CRNT

WealthTrust Axiom LLC decreased its holdings in shares of Ceragon Networks Ltd. (NASDAQ:CRNT) by 4.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 170,600 shares of the communications equipment provider’s stock after selling 7,550 shares during the period. WealthTrust Axiom LLC’s holdings in Ceragon Networks were worth $401,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Algert Global LLC increased its position in Ceragon Networks by 32.2% during the 4th quarter. Algert Global LLC now owns 46,454 shares of the communications equipment provider’s stock valued at $217,000 after buying an additional 11,310 shares in the last quarter. Worth Venture Partners LLC bought a new position in Ceragon Networks in the 1st quarter worth about $47,000. NewEdge Advisors LLC grew its position in Ceragon Networks by 90.2% during the 4th quarter. NewEdge Advisors LLC now owns 45,757 shares of the communications equipment provider’s stock valued at $214,000 after purchasing an additional 21,695 shares during the last quarter. Wells Fargo & Company MN increased its stake in Ceragon Networks by 1,419.4% during the 4th quarter. Wells Fargo & Company MN now owns 23,550 shares of the communications equipment provider’s stock valued at $110,000 after purchasing an additional 22,000 shares in the last quarter. Finally, LPL Financial LLC purchased a new position in Ceragon Networks in the fourth quarter worth about $109,000. Hedge funds and other institutional investors own 13.31% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Wall Street Zen cut shares of Ceragon Networks from a “buy” rating to a “hold” rating in a report on Thursday, May 8th. Roth Capital lowered their price objective on Ceragon Networks from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Friday, July 18th. Finally, Needham & Company LLC cut their target price on Ceragon Networks from $4.50 to $3.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average target price of $5.30.

Ceragon Networks Price Performance

CRNT stock opened at $1.99 on Monday. Ceragon Networks Ltd. has a 1 year low of $1.82 and a 1 year high of $5.73. The company has a market cap of $176.97 million, a P/E ratio of 12.44 and a beta of 1.00. The stock’s fifty day moving average price is $2.26 and its 200-day moving average price is $2.43.

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.