Prudential Financial Inc. Increases Position in Ceragon Networks Ltd. (NASDAQ:CRNT)

Prudential Financial Inc. raised its position in Ceragon Networks Ltd. (NASDAQ:CRNT) by 53.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,200 shares of the communications equipment provider’s stock after buying an additional 21,000 shares during the quarter. Prudential Financial Inc. owned about 0.07% of Ceragon Networks worth $281,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Commonwealth Equity Services LLC bought a new stake in shares of Ceragon Networks during the 4th quarter worth $58,000. Bravias Capital Group LLC bought a new position in Ceragon Networks in the 4th quarter worth $71,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Ceragon Networks in the 4th quarter worth about $81,000. Perigon Wealth Management LLC bought a new stake in shares of Ceragon Networks during the 4th quarter valued at about $90,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of Ceragon Networks during the third quarter valued at about $104,000. 13.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Ceragon Networks Trading Down 8.0 %

Ceragon Networks stock opened at $2.06 on Friday. Ceragon Networks Ltd. has a 12 month low of $1.95 and a 12 month high of $5.73. The business’s fifty day simple moving average is $2.91 and its two-hundred day simple moving average is $3.44. The company has a market capitalization of $183.01 million, a price-to-earnings ratio of 7.63 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.