C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Buys New Stake in Ceragon Networks Ltd. (NASDAQ:CRNT)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in Ceragon Networks Ltd. (NASDAQ:CRNT) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 35,466 shares of the communications equipment provider’s stock, valued at approximately $166,000.

Several other large investors have also recently added to or reduced their stakes in CRNT. Perigon Wealth Management LLC acquired a new stake in Ceragon Networks in the 4th quarter valued at approximately $90,000. JPMorgan Chase & Co. acquired a new stake in Ceragon Networks in the 3rd quarter valued at approximately $104,000. XTX Topco Ltd acquired a new stake in Ceragon Networks in the 3rd quarter valued at approximately $152,000. State of New Jersey Common Pension Fund D acquired a new stake in Ceragon Networks in the 4th quarter valued at approximately $182,000. Finally, Walleye Capital LLC increased its position in Ceragon Networks by 95.1% in the 3rd quarter. Walleye Capital LLC now owns 283,933 shares of the communications equipment provider’s stock valued at $778,000 after acquiring an additional 138,411 shares during the period. 13.31% of the stock is currently owned by institutional investors and hedge funds.

Ceragon Networks Stock Down 3.9 %

Shares of NASDAQ CRNT opened at $3.20 on Friday. The stock has a market capitalization of $273.34 million, a price-to-earnings ratio of 11.85 and a beta of 1.59. The stock’s fifty day simple moving average is $4.54 and its 200 day simple moving average is $3.51. Ceragon Networks Ltd. has a 52-week low of $2.33 and a 52-week high of $5.73.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CRNT. Roth Capital upgraded Ceragon Networks to a “strong-buy” rating in a research report on Monday, October 28th. Litchfield Hills Research began coverage on Ceragon Networks in a research report on Tuesday, December 3rd. They set a “buy” rating and a $10.00 price target on the stock. Roth Mkm began coverage on Ceragon Networks in a research report on Monday, October 28th. They set a “buy” rating and a $4.50 price target on the stock. Needham & Company LLC reiterated a “buy” rating and set a $6.00 price target on shares of Ceragon Networks in a research report on Wednesday, February 12th. Finally, StockNews.com cut Ceragon Networks from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 13th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average 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.