Two Sigma Investments LP Has $1.39 Million Stock Holdings in Ceragon Networks Ltd. (NASDAQ:CRNT)

Two Sigma Investments LP grew its holdings in Ceragon Networks Ltd. (NASDAQ:CRNT) by 951.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 296,588 shares of the communications equipment provider’s stock after buying an additional 268,388 shares during the quarter. Two Sigma Investments LP’s holdings in Ceragon Networks were worth $1,385,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Renaissance Technologies LLC increased its stake in shares of 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 valued at $6,226,000 after buying an additional 426,760 shares in the last quarter. Millennium Management LLC increased its stake in shares of Ceragon Networks by 123.9% in the fourth quarter. Millennium Management LLC now owns 962,898 shares of the communications equipment provider’s stock valued at $4,497,000 after buying an additional 532,798 shares in the last quarter. Marshall Wace LLP increased its stake in shares of Ceragon Networks by 598.1% in the fourth quarter. Marshall Wace LLP now owns 703,091 shares of the communications equipment provider’s stock valued at $3,283,000 after buying an additional 602,383 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in Ceragon Networks by 26.7% in the fourth quarter. Lazard Asset Management LLC now owns 570,288 shares of the communications equipment provider’s stock valued at $2,663,000 after acquiring an additional 120,106 shares during the last quarter. Finally, Navellier & Associates Inc. bought a new position in Ceragon Networks in the fourth quarter valued at about $1,804,000. 13.31% of the stock is currently owned by institutional investors and hedge funds.

Ceragon Networks Trading Up 2.6%

Shares of CRNT opened at $2.40 on Wednesday. Ceragon Networks Ltd. has a 1 year low of $1.95 and a 1 year high of $5.73. The stock has a market cap of $213.43 million, a P/E ratio of 8.89 and a beta of 1.04. The stock’s 50-day moving average price is $2.24 and its two-hundred day moving average price is $3.35.

Ceragon Networks (NASDAQ:CRNT) last released its quarterly earnings data on Wednesday, May 7th. The communications equipment provider reported $0.02 earnings per share for the quarter, meeting the consensus estimate of $0.02. Ceragon Networks had a return on equity of 21.32% and a net margin of 6.10%. As a group, equities analysts forecast that Ceragon Networks Ltd. will post 0.26 EPS for the current year.

Analyst Ratings Changes

CRNT has been the topic of several recent research reports. Craig Hallum started coverage on Ceragon Networks in a report on Thursday, March 13th. They issued a “buy” rating and a $5.00 price target on the stock. 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. Finally, Wall Street Zen cut Ceragon Networks from a “buy” rating to a “hold” rating in a report on Thursday, May 8th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus 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.