CreativeOne Wealth LLC Purchases New Stake in Ceragon Networks Ltd. (NASDAQ:CRNT)

CreativeOne Wealth LLC acquired a new position in Ceragon Networks Ltd. (NASDAQ:CRNT) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 36,773 shares of the communications equipment provider’s stock, valued at approximately $172,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC purchased a new position in Ceragon Networks in the fourth quarter valued at approximately $58,000. Bravias Capital Group LLC bought a new position in shares of Ceragon Networks during the 4th quarter worth $71,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Ceragon Networks in the 4th quarter valued at about $81,000. Perigon Wealth Management LLC bought a new position in Ceragon Networks during the fourth quarter worth about $90,000. Finally, LPL Financial LLC purchased a new position in shares of Ceragon Networks in the fourth quarter worth about $109,000. 13.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on CRNT. 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. Craig Hallum initiated coverage on 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 raised Ceragon Networks from a “hold” rating to a “buy” rating in a report on Wednesday, April 9th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Ceragon Networks presently has an average rating of “Buy” and an average target price of $6.38.

Ceragon Networks Stock Performance

Ceragon Networks stock opened at $2.01 on Tuesday. Ceragon Networks Ltd. has a fifty-two week low of $1.95 and a fifty-two week high of $5.73. The stock has a market cap of $178.75 million, a P/E ratio of 7.44 and a beta of 1.60. The firm’s fifty day moving average price is $2.55 and its 200-day moving average price is $3.42.

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.