C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Invests $166,000 in Ceragon Networks Ltd. (NASDAQ:CRNT)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in Ceragon Networks Ltd. (NASDAQ:CRNT) in the fourth quarter, HoldingsChannel reports. The firm acquired 35,466 shares of the communications equipment provider’s stock, valued at approximately $166,000.

A number of other hedge funds have also recently made changes to their positions in the business. Perigon Wealth Management LLC bought a new stake in shares of Ceragon Networks in the 4th quarter worth approximately $90,000. JPMorgan Chase & Co. bought a new stake in shares of Ceragon Networks in the 3rd quarter worth approximately $104,000. XTX Topco Ltd bought a new stake in shares of Ceragon Networks in the 3rd quarter worth approximately $152,000. Walleye Capital LLC increased its stake in shares of Ceragon Networks by 95.1% in the third quarter. Walleye Capital LLC now owns 283,933 shares of the communications equipment provider’s stock worth $778,000 after buying an additional 138,411 shares during the period. Finally, Inspire Investing LLC purchased a new position in shares of Ceragon Networks in the fourth quarter worth $903,000. 13.31% of the stock is currently owned by institutional investors.

Ceragon Networks Trading Down 2.3 %

Shares of Ceragon Networks stock opened at $3.46 on Friday. The company’s fifty day simple moving average is $4.65 and its two-hundred day simple moving average is $3.50. The company has a market cap of $295.55 million, a P/E ratio of 15.73 and a beta of 1.59. Ceragon Networks Ltd. has a 12-month low of $2.33 and a 12-month high of $5.73.

Analysts Set New Price Targets

Several research analysts recently commented on CRNT shares. Roth Capital raised shares of Ceragon Networks to a “strong-buy” rating in a research note on Monday, October 28th. StockNews.com downgraded shares of Ceragon Networks from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Litchfield Hills Research started coverage on shares of Ceragon Networks in a research note on Tuesday, December 3rd. They issued a “buy” rating and a $10.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $6.00 target price on shares of Ceragon Networks in a research note on Wednesday. Finally, Roth Mkm started coverage on shares of Ceragon Networks in a research note on Monday, October 28th. They issued a “buy” rating and a $4.50 target price on the stock. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Ceragon Networks has a consensus rating of “Buy” and a consensus price target of $6.83.

About Ceragon Networks

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.