JPMorgan Chase & Co. Acquires New Shares in Ceragon Networks Ltd. (NASDAQ:CRNT)

JPMorgan Chase & Co. purchased a new stake in shares of Ceragon Networks Ltd. (NASDAQ:CRNT) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 38,087 shares of the communications equipment provider’s stock, valued at approximately $104,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Cubist Systematic Strategies LLC acquired a new stake in shares of Ceragon Networks in the second quarter worth $56,000. Sei Investments Co. grew its position in 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 purchasing an additional 8,607 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Ceragon Networks during the third quarter valued at about $152,000. Finally, Walleye Capital LLC increased its stake in Ceragon Networks by 95.1% during the third 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. Institutional investors and hedge funds own 13.31% of the company’s stock.

Ceragon Networks Stock Performance

CRNT opened at $4.61 on Monday. The firm has a market cap of $393.79 million, a price-to-earnings ratio of 20.96 and a beta of 1.60. The firm’s 50-day simple moving average is $4.61 and its 200-day simple moving average is $3.39. Ceragon Networks Ltd. has a twelve month low of $2.33 and a twelve month high of $5.73.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CRNT. Needham & Company LLC reiterated a “buy” rating and issued a $6.00 price objective on shares of Ceragon Networks in a research report on Thursday, January 16th. Roth Capital upgraded shares of Ceragon Networks to a “strong-buy” rating in a research note on Monday, October 28th. Litchfield Hills Research assumed coverage on shares of Ceragon Networks in a research note on Tuesday, December 3rd. They issued a “buy” rating and a $10.00 target price on the stock. Finally, Roth Mkm assumed coverage on shares of Ceragon Networks in a research note on Monday, October 28th. They set a “buy” rating and a $4.50 price target for the company. Three investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Ceragon Networks has an average rating of “Buy” and a consensus target price of $6.83.

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.