Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Ceragon Networks Ltd (NASDAQ:CRNT) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 15,000 shares of the communications equipment provider’s stock, valued at approximately $54,000.

Several other hedge funds have also recently bought and sold shares of the business. Harvest Management LLC grew its holdings in shares of Ceragon Networks by 5.8% during the 4th quarter. Harvest Management LLC now owns 58,200 shares of the communications equipment provider’s stock worth $220,000 after acquiring an additional 3,200 shares during the period. GSA Capital Partners LLP grew its holdings in shares of Ceragon Networks by 12.4% during the 4th quarter. GSA Capital Partners LLP now owns 134,911 shares of the communications equipment provider’s stock worth $510,000 after acquiring an additional 14,900 shares during the period. BlackRock Inc. grew its holdings in shares of Ceragon Networks by 21.1% during the 3rd quarter. BlackRock Inc. now owns 96,984 shares of the communications equipment provider’s stock worth $327,000 after acquiring an additional 16,925 shares during the period. Panagora Asset Management Inc. grew its holdings in shares of Ceragon Networks by 1,581.7% during the 3rd quarter. Panagora Asset Management Inc. now owns 36,475 shares of the communications equipment provider’s stock worth $123,000 after acquiring an additional 34,306 shares during the period. Finally, Menta Capital LLC grew its holdings in shares of Ceragon Networks by 24.5% during the 4th quarter. Menta Capital LLC now owns 317,172 shares of the communications equipment provider’s stock worth $1,199,000 after acquiring an additional 62,467 shares during the period. Hedge funds and other institutional investors own 26.49% of the company’s stock.

CRNT stock opened at $3.76 on Friday. Ceragon Networks Ltd has a fifty-two week low of $2.46 and a fifty-two week high of $5.04. The company has a market cap of $301.33 million, a price-to-earnings ratio of 19.79, a PEG ratio of 1.04 and a beta of 1.05.

Ceragon Networks (NASDAQ:CRNT) last posted its quarterly earnings results on Wednesday, February 20th. The communications equipment provider reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05. The company had revenue of $85.74 million for the quarter, compared to the consensus estimate of $84.80 million. Ceragon Networks had a return on equity of 10.79% and a net margin of 6.70%. As a group, sell-side analysts expect that Ceragon Networks Ltd will post 0.24 earnings per share for the current fiscal year.

A number of research analysts have weighed in on CRNT shares. BidaskClub upgraded Ceragon Networks from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Zacks Investment Research upgraded Ceragon Networks from a “hold” rating to a “buy” rating and set a $5.25 target price on the stock in a report on Tuesday, February 5th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $4.66.

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Ceragon Networks Profile

Ceragon Networks Ltd. provides wireless backhaul solutions that enable cellular operators and other wireless service providers to deliver voice and data services worldwide. Its wireless backhaul solutions use microwave and millimeter wave technology to transfer telecommunication traffic between base stations, small sells, and the core of the service provider's network.

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Institutional Ownership by Quarter for Ceragon Networks (NASDAQ:CRNT)

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