State of New Jersey Common Pension Fund D Takes $182,000 Position in Ceragon Networks Ltd. (NASDAQ:CRNT)

State of New Jersey Common Pension Fund D purchased a new stake in Ceragon Networks Ltd. (NASDAQ:CRNT) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 38,993 shares of the communications equipment provider’s stock, valued at approximately $182,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Perigon Wealth Management LLC bought a new stake in shares of Ceragon Networks during the fourth quarter worth approximately $90,000. JPMorgan Chase & Co. bought a new stake in shares of Ceragon Networks in the 3rd quarter valued at about $104,000. XTX Topco Ltd bought a new stake in shares of Ceragon Networks in the 3rd quarter valued at about $152,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Ceragon Networks in the 4th quarter valued at approximately $166,000. Finally, Walleye Capital LLC boosted its stake in Ceragon Networks by 95.1% during the 3rd quarter. Walleye Capital LLC now owns 283,933 shares of the communications equipment provider’s stock worth $778,000 after acquiring an additional 138,411 shares during the last quarter. 13.31% of the stock is currently owned by institutional investors and hedge funds.

Ceragon Networks Stock Performance

Shares of Ceragon Networks stock opened at $2.95 on Wednesday. Ceragon Networks Ltd. has a 52-week low of $2.33 and a 52-week high of $5.73. The business’s 50 day simple moving average is $4.44 and its 200 day simple moving average is $3.53. The firm has a market cap of $251.98 million, a PE ratio of 10.93 and a beta of 1.59.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CRNT. StockNews.com cut shares of Ceragon Networks from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 13th. Litchfield Hills Research assumed coverage on shares of Ceragon Networks in a report on Tuesday, December 3rd. They issued a “buy” rating and a $10.00 price target for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $6.00 price objective on shares of Ceragon Networks in a report on Wednesday, February 12th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $6.83.

Ceragon Networks Company 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.