Oppenheimer & Co. Inc. Has $33,000 Stock Position in Ceragon Networks Ltd. (NASDAQ:CRNT)

Oppenheimer & Co. Inc. cut its stake in Ceragon Networks Ltd. (NASDAQ:CRNT) by 62.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,000 shares of the communications equipment provider’s stock after selling 20,000 shares during the period. Oppenheimer & Co. Inc.’s holdings in Ceragon Networks were worth $33,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. WINTON GROUP Ltd acquired a new position in shares of Ceragon Networks in the 2nd quarter worth approximately $26,000. Cubist Systematic Strategies LLC acquired a new position in shares of Ceragon Networks in the 2nd quarter worth approximately $56,000. Sei Investments Co. raised its holdings in shares of Ceragon Networks by 45.7% in the 2nd quarter. Sei Investments Co. now owns 27,423 shares of the communications equipment provider’s stock worth $69,000 after buying an additional 8,607 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of Ceragon Networks by 9,906.9% in the 1st quarter. Lazard Asset Management LLC now owns 94,765 shares of the communications equipment provider’s stock worth $303,000 after buying an additional 93,818 shares in the last quarter. Finally, Kennedy Capital Management LLC acquired a new position in shares of Ceragon Networks in the 1st quarter worth approximately $316,000. 13.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CRNT has been the subject of a number of recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $5.25 target price on shares of Ceragon Networks in a report on Thursday, August 8th. Roth Capital raised Ceragon Networks to a “strong-buy” rating in a report on Monday, October 28th. Finally, Roth Mkm initiated coverage on Ceragon Networks in a report on Monday, October 28th. They set a “buy” rating and a $4.50 price target for the company. Two equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Ceragon Networks has an average rating of “Strong Buy” and an average target price of $4.88.

Ceragon Networks Price Performance

CRNT stock opened at $3.70 on Friday. The business has a fifty day moving average price of $2.65 and a 200 day moving average price of $2.68. Ceragon Networks Ltd. has a fifty-two week low of $1.75 and a fifty-two week high of $3.71. The stock has a market capitalization of $316.05 million, a price-to-earnings ratio of 16.82 and a beta of 1.35.

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.