Algert Global LLC Purchases 11,310 Shares of Ceragon Networks Ltd. (NASDAQ:CRNT)

Algert Global LLC increased its holdings in shares of Ceragon Networks Ltd. (NASDAQ:CRNT) by 32.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 46,454 shares of the communications equipment provider’s stock after purchasing an additional 11,310 shares during the period. Algert Global LLC owned 0.05% of Ceragon Networks worth $217,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. acquired a new stake in shares of Ceragon Networks during the third quarter worth $104,000. Inspire Investing LLC bought a new position in Ceragon Networks during the fourth quarter worth about $903,000. Perigon Wealth Management LLC bought a new position in Ceragon Networks during the fourth quarter worth about $90,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Ceragon Networks in the 4th quarter worth about $166,000. Finally, State of New Jersey Common Pension Fund D bought a new stake in Ceragon Networks in the 4th quarter valued at about $182,000. Institutional investors and hedge funds own 13.31% of the company’s stock.

Ceragon Networks Price Performance

Shares of Ceragon Networks stock opened at $2.50 on Wednesday. The business has a 50-day simple moving average of $2.30 and a 200 day simple moving average of $3.37. Ceragon Networks Ltd. has a one year low of $1.95 and a one year high of $5.73. The firm has a market capitalization of $222.33 million, a price-to-earnings ratio of 9.26 and a beta of 1.04.

Ceragon Networks (NASDAQ:CRNT) last posted its earnings results on Wednesday, May 7th. The communications equipment provider reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02. Ceragon Networks had a net margin of 6.10% and a return on equity of 21.32%. On average, sell-side analysts expect that Ceragon Networks Ltd. will post 0.26 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Needham & Company LLC reduced their target price on Ceragon Networks from $6.00 to $4.50 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Craig Hallum assumed coverage on shares of Ceragon Networks in a research note on Thursday, March 13th. They set a “buy” rating and a $5.00 price objective on the stock. Finally, StockNews.com cut shares of Ceragon Networks from a “buy” rating to a “hold” rating in a research report on Thursday, May 8th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $6.00.

Ceragon Networks Company 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.