Renaissance Technologies LLC Raises Stock Position in Ceragon Networks Ltd (NASDAQ:CRNT)

Renaissance Technologies LLC grew its holdings in Ceragon Networks Ltd (NASDAQ:CRNT) by 1.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,374,900 shares of the communications equipment provider’s stock after buying an additional 79,800 shares during the period. Renaissance Technologies LLC owned approximately 5.46% of Ceragon Networks worth $12,818,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. ARK Investment Management LLC grew its stake in shares of Ceragon Networks by 12.3% in the 2nd quarter. ARK Investment Management LLC now owns 131,354 shares of the communications equipment provider’s stock worth $385,000 after buying an additional 14,381 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Ceragon Networks by 32.0% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 103,040 shares of the communications equipment provider’s stock worth $370,000 after buying an additional 24,951 shares in the last quarter. Delek Group Ltd. grew its stake in shares of Ceragon Networks by 19.1% in the 2nd quarter. Delek Group Ltd. now owns 62,180 shares of the communications equipment provider’s stock worth $178,000 after buying an additional 9,977 shares in the last quarter. AJO LP grew its stake in shares of Ceragon Networks by 2.0% in the 1st quarter. AJO LP now owns 693,898 shares of the communications equipment provider’s stock worth $2,491,000 after buying an additional 13,282 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of Ceragon Networks by 2.3% in the 1st quarter. Acadian Asset Management LLC now owns 3,191,940 shares of the communications equipment provider’s stock worth $11,460,000 after buying an additional 71,937 shares in the last quarter. 17.90% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have commented on CRNT. ValuEngine raised shares of Ceragon Networks from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Oppenheimer set a $4.00 target price on shares of Ceragon Networks and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Finally, Zacks Investment Research lowered shares of Ceragon Networks from a “buy” rating to a “sell” rating in a report on Thursday, August 15th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $3.83.

CRNT traded down $0.07 on Friday, reaching $2.76. 400,819 shares of the company traded hands, compared to its average volume of 408,496. Ceragon Networks Ltd has a one year low of $2.20 and a one year high of $5.04. The firm has a fifty day simple moving average of $2.53 and a two-hundred day simple moving average of $3.05. The company has a market cap of $235.07 million, a P/E ratio of 13.80, a price-to-earnings-growth ratio of 1.63 and a beta of 1.23.

Ceragon Networks (NASDAQ:CRNT) last announced its quarterly earnings data on Monday, August 12th. The communications equipment provider reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). Ceragon Networks had a net margin of 6.14% and a return on equity of 8.33%. The company had revenue of $73.00 million for the quarter, compared to the consensus estimate of $72.62 million. Equities research analysts expect that Ceragon Networks Ltd will post 0.12 earnings per share for the current year.

Ceragon Networks Company Profile

Ceragon Networks Ltd. provides wireless backhaul solutions that enable cellular operators and other wireless service providers to deliver voice and data services worldwide. Its wireless backhaul solutions use microwave and millimeter wave technology to transfer telecommunication traffic between base stations, small sells, and the core of the service provider's network.

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Institutional Ownership by Quarter for Ceragon Networks (NASDAQ:CRNT)

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