Ceragon Networks (NASDAQ:CRNT) Earns Buy Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Ceragon Networks (NASDAQ:CRNT – Get Rating) in a research report released on Thursday. The brokerage issued a buy rating on the communications equipment provider’s stock.

Separately, Needham & Company LLC reiterated a buy rating and set a $5.25 price objective on shares of Ceragon Networks in a research note on Thursday, February 9th.

Ceragon Networks Trading Down 7.1 %

Shares of NASDAQ CRNT traded down $0.12 during trading on Thursday, reaching $1.56. The company had a trading volume of 538,093 shares, compared to its average volume of 128,825. Ceragon Networks has a 52 week low of $1.53 and a 52 week high of $2.87. The business’s 50 day moving average price is $1.95 and its 200-day moving average price is $1.93.

Hedge Funds Weigh In On Ceragon Networks

Several large investors have recently bought and sold shares of the stock. First Wilshire Securities Management Inc. raised its stake in Ceragon Networks by 373.1% in the 3rd quarter. First Wilshire Securities Management Inc. now owns 1,816,755 shares of the communications equipment provider’s stock valued at $3,325,000 after acquiring an additional 1,432,709 shares during the period. Ion Asset Management Ltd. raised its stake in Ceragon Networks by 77.8% in the 3rd quarter. Ion Asset Management Ltd. now owns 3,208,611 shares of the communications equipment provider’s stock valued at $5,872,000 after acquiring an additional 1,404,385 shares during the period. Goldman Sachs Group Inc. raised its stake in Ceragon Networks by 772.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 543,037 shares of the communications equipment provider’s stock valued at $1,157,000 after acquiring an additional 480,796 shares during the period. Westerly Capital Management LLC bought a new stake in Ceragon Networks in the 3rd quarter valued at about $522,000. Finally, First Eagle Investment Management LLC raised its stake in Ceragon Networks by 118.5% in the 4th quarter. First Eagle Investment Management LLC now owns 422,057 shares of the communications equipment provider’s stock valued at $806,000 after acquiring an additional 228,857 shares during the period. 28.86% of the stock is currently owned by institutional investors.

About Ceragon Networks

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Ceragon Networks Ltd. is engaged in the provision of wireless backhaul and fronthaul solutions. Its products include IP-50, IP-20, IP-20 Assured, Pointlink Stabilized Platforms, and Network & Service Management. The company was founded on July 23, 1996 and is headquartered in Tel Aviv, Israel.