Cubist Systematic Strategies LLC Buys New Position in Ceragon Networks Ltd. (NASDAQ:CRNT)

Cubist Systematic Strategies LLC bought a new stake in Ceragon Networks Ltd. (NASDAQ:CRNT) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 22,594 shares of the communications equipment provider’s stock, valued at approximately $56,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Eagle Wealth Strategies LLC acquired a new position in Ceragon Networks in the first quarter valued at approximately $31,000. WINTON GROUP Ltd acquired a new position in Ceragon Networks in the second quarter valued at approximately $26,000. Sei Investments Co. lifted its stake in Ceragon Networks by 45.7% in the second quarter. Sei Investments Co. now owns 27,423 shares of the communications equipment provider’s stock valued at $69,000 after buying an additional 8,607 shares during the period. Lazard Asset Management LLC lifted its stake in Ceragon Networks by 9,906.9% in the first quarter. Lazard Asset Management LLC now owns 94,765 shares of the communications equipment provider’s stock valued at $303,000 after buying an additional 93,818 shares during the period. Finally, Kennedy Capital Management LLC acquired a new position in Ceragon Networks in the first quarter valued at approximately $316,000. 13.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reaffirmed a “buy” rating and set a $5.25 target price on shares of Ceragon Networks in a research report on Thursday, August 8th.

Ceragon Networks Stock Up 2.0 %

Shares of NASDAQ:CRNT opened at $2.61 on Thursday. Ceragon Networks Ltd. has a twelve month low of $1.56 and a twelve month high of $3.38. The stock’s 50 day moving average is $2.76 and its 200-day moving average is $2.72. The firm has a market capitalization of $222.94 million, a price-to-earnings ratio of 52.20 and a beta of 1.34.

Ceragon Networks (NASDAQ:CRNT) last issued its earnings results on Wednesday, August 7th. The communications equipment provider reported $0.10 earnings per share for the quarter. Ceragon Networks had a return on equity of 13.94% and a net margin of 2.87%. The company had revenue of $96.09 million for the quarter. Equities research analysts anticipate that Ceragon Networks Ltd. will post 0.24 earnings per share for the current fiscal year.

Ceragon Networks 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.