Russell Investments Group Ltd. Invests $526,000 in Ceragon Networks Ltd. (NASDAQ:CRNT)

Russell Investments Group Ltd. purchased a new stake in Ceragon Networks Ltd. (NASDAQ:CRNT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 112,669 shares of the communications equipment provider’s stock, valued at approximately $526,000. Russell Investments Group Ltd. owned approximately 0.13% of Ceragon Networks at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CRNT. JPMorgan Chase & Co. bought a new position in Ceragon Networks during the 3rd quarter worth approximately $104,000. Inspire Investing LLC bought a new position in Ceragon Networks during the fourth quarter worth $903,000. Perigon Wealth Management LLC acquired a new position in Ceragon Networks in the fourth quarter worth $90,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in Ceragon Networks in the fourth quarter worth $166,000. Finally, State of New Jersey Common Pension Fund D acquired a new stake in shares of Ceragon Networks during the fourth quarter worth $182,000. 13.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CRNT has been the subject of several research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $6.00 price target on shares of Ceragon Networks in a report on Wednesday, February 12th. StockNews.com upgraded Ceragon Networks from a “hold” rating to a “buy” rating in a research note on Wednesday, April 9th. Finally, Craig Hallum began coverage on Ceragon Networks in a report on Thursday, March 13th. They set a “buy” rating and a $5.00 target price for the company. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $6.38.

Ceragon Networks Price Performance

Shares of NASDAQ:CRNT opened at $2.07 on Thursday. The company’s 50-day moving average price is $2.50 and its 200 day moving average price is $3.40. The company has a market cap of $184.09 million, a PE ratio of 7.67 and a beta of 1.60. Ceragon Networks Ltd. has a fifty-two week low of $1.95 and a fifty-two week high of $5.73.

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.