Ceragon Networks Ltd. $CRNT Position Raised by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC grew its holdings in shares of Ceragon Networks Ltd. (NASDAQ:CRNT) by 36.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,418,197 shares of the communications equipment provider’s stock after purchasing an additional 382,058 shares during the quarter. Essex Investment Management Co. LLC’s holdings in Ceragon Networks were worth $3,304,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of CRNT. Jones Financial Companies Lllp raised its holdings in Ceragon Networks by 283.3% during the third quarter. Jones Financial Companies Lllp now owns 11,500 shares of the communications equipment provider’s stock worth $27,000 after purchasing an additional 8,500 shares in the last quarter. Wedbush Securities Inc. grew its holdings in shares of Ceragon Networks by 58.4% during the second quarter. Wedbush Securities Inc. now owns 23,664 shares of the communications equipment provider’s stock valued at $58,000 after buying an additional 8,727 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in Ceragon Networks during the 2nd quarter valued at about $26,000. Bank of Montreal Can purchased a new position in Ceragon Networks during the second quarter valued at approximately $35,000. Finally, R Squared Ltd purchased a new position in shares of Ceragon Networks during the 2nd quarter valued at $97,000. 13.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Zacks Research downgraded shares of Ceragon Networks from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 20th. Needham & Company LLC restated a “buy” rating and set a $3.00 target price on shares of Ceragon Networks in a research note on Wednesday, November 12th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Ceragon Networks in a report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $4.00.

Ceragon Networks Stock Performance

Shares of NASDAQ:CRNT opened at $2.39 on Tuesday. Ceragon Networks Ltd. has a twelve month low of $1.82 and a twelve month high of $5.16. The firm has a market cap of $212.54 million, a PE ratio of 119.56 and a beta of 1.19. The business has a fifty day moving average of $2.18 and a 200-day moving average of $2.20.

Ceragon Networks (NASDAQ:CRNT) last released its earnings results on Wednesday, November 12th. The communications equipment provider reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The firm had revenue of $85.48 million for the quarter, compared to the consensus estimate of $83.48 million. Ceragon Networks had a return on equity of 6.67% and a net margin of 0.38%. On average, analysts anticipate that Ceragon Networks Ltd. will post 0.26 EPS for the current fiscal year.

About Ceragon Networks

Ceragon Networks Ltd. is a global provider of wireless backhaul solutions, specializing in high-capacity, low-latency connectivity for mobile operators and private networks. The company designs and manufactures a portfolio of microwave and millimeter-wave equipment that serves as a fiber alternative for carrying voice, data and video traffic between cell sites and core networks. Ceragon’s solutions are engineered to support the rigorous performance requirements of modern 4G and 5G deployments, with an emphasis on scalability, reliability and efficient spectrum utilization.

The company’s product lineup includes point-to-point and multi-point radio platforms, as well as software-driven network management tools that enable operators to plan, deploy and monitor end-to-end transport networks.