Walleye Capital LLC Acquires 138,411 Shares of Ceragon Networks Ltd. (NASDAQ:CRNT)

Walleye Capital LLC grew its position in Ceragon Networks Ltd. (NASDAQ:CRNT) by 95.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 283,933 shares of the communications equipment provider’s stock after purchasing an additional 138,411 shares during the period. Walleye Capital LLC’s holdings in Ceragon Networks were worth $778,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cubist Systematic Strategies LLC purchased a new position in Ceragon Networks during the second quarter worth about $56,000. Sei Investments Co. boosted its holdings in Ceragon Networks by 45.7% during the second 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. Renaissance Technologies LLC boosted its holdings in Ceragon Networks by 35.4% during the second quarter. Renaissance Technologies LLC now owns 643,816 shares of the communications equipment provider’s stock worth $1,610,000 after purchasing an additional 168,416 shares during the last quarter. WINTON GROUP Ltd purchased a new position in Ceragon Networks during the second quarter worth about $26,000. Finally, Acadian Asset Management LLC boosted its holdings in Ceragon Networks by 25.7% during the second quarter. Acadian Asset Management LLC now owns 1,955,161 shares of the communications equipment provider’s stock worth $4,878,000 after purchasing an additional 400,161 shares during the last quarter. 13.31% of the stock is currently owned by hedge funds and other institutional investors.

Ceragon Networks Stock Performance

Shares of CRNT stock opened at $4.30 on Friday. The firm has a market cap of $367.31 million, a price-to-earnings ratio of 19.55 and a beta of 1.61. Ceragon Networks Ltd. has a 52 week low of $1.83 and a 52 week high of $4.70. The firm’s 50-day simple moving average is $2.97 and its two-hundred day simple moving average is $2.78.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Litchfield Hills Research assumed coverage on shares of Ceragon Networks in a report on Tuesday, December 3rd. They set a “buy” rating and a $10.00 price target on the stock. Roth Capital upgraded shares of Ceragon Networks to a “strong-buy” rating in a report on Monday, October 28th. Roth Mkm initiated coverage on shares of Ceragon Networks in a research report on Monday, October 28th. They issued a “buy” rating and a $4.50 price objective on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $6.00 price objective (up previously from $4.50) on shares of Ceragon Networks in a research report on Wednesday. Three research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average 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.