386,197 Shares in Ceragon Networks Ltd. (NASDAQ:CRNT) Acquired by Navellier & Associates Inc.

Navellier & Associates Inc. purchased a new position in shares of Ceragon Networks Ltd. (NASDAQ:CRNT) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 386,197 shares of the communications equipment provider’s stock, valued at approximately $1,804,000. Navellier & Associates Inc. owned about 0.45% of Ceragon Networks at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Perigon Wealth Management LLC acquired a new stake in Ceragon Networks during the 4th quarter worth approximately $90,000. JPMorgan Chase & Co. acquired a new stake in Ceragon Networks during the 3rd quarter worth approximately $104,000. XTX Topco Ltd acquired a new stake in Ceragon Networks during the 3rd quarter worth approximately $152,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Ceragon Networks during the 4th quarter worth approximately $166,000. Finally, State of New Jersey Common Pension Fund D acquired a new stake in Ceragon Networks during the 4th quarter worth approximately $182,000. 13.31% of the stock is owned by institutional investors and hedge funds.

Ceragon Networks Stock Performance

Ceragon Networks stock opened at $3.01 on Friday. Ceragon Networks Ltd. has a 52 week low of $2.33 and a 52 week high of $5.73. The stock has a market capitalization of $257.11 million, a P/E ratio of 11.15 and a beta of 1.59. The stock has a fifty day moving average of $4.50 and a 200-day moving average of $3.52.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CRNT. Roth Capital raised Ceragon Networks to a “strong-buy” rating in a report on Monday, October 28th. Litchfield Hills Research began coverage on Ceragon Networks in a report on Tuesday, December 3rd. They issued a “buy” rating and a $10.00 price objective for the company. StockNews.com cut Ceragon Networks from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Ceragon Networks in a report on Wednesday, February 12th. Finally, Roth Mkm began coverage on Ceragon Networks in a report on Monday, October 28th. They issued a “buy” rating and a $4.50 price objective for the company. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $6.83.

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.