Two Sigma Investments LP Buys 268,388 Shares of Ceragon Networks Ltd. (NASDAQ:CRNT)

Two Sigma Investments LP boosted its stake in shares of Ceragon Networks Ltd. (NASDAQ:CRNT) by 951.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 296,588 shares of the communications equipment provider’s stock after purchasing an additional 268,388 shares during the quarter. Two Sigma Investments LP owned about 0.35% of Ceragon Networks worth $1,385,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Millennium Management LLC boosted its position in shares of Ceragon Networks by 123.9% in the fourth quarter. Millennium Management LLC now owns 962,898 shares of the communications equipment provider’s stock valued at $4,497,000 after acquiring an additional 532,798 shares during the period. Lazard Asset Management LLC boosted its position in shares of Ceragon Networks by 26.7% in the fourth quarter. Lazard Asset Management LLC now owns 570,288 shares of the communications equipment provider’s stock valued at $2,663,000 after acquiring an additional 120,106 shares during the period. Graham Capital Management L.P. bought a new stake in shares of Ceragon Networks in the fourth quarter valued at approximately $136,000. BNP Paribas Financial Markets bought a new stake in shares of Ceragon Networks in the fourth quarter valued at approximately $173,000. Finally, Algert Global LLC boosted its position in shares of Ceragon Networks by 32.2% in the fourth quarter. Algert Global LLC now owns 46,454 shares of the communications equipment provider’s stock valued at $217,000 after acquiring an additional 11,310 shares during the period. Institutional investors own 13.31% of the company’s stock.

Ceragon Networks Price Performance

Ceragon Networks stock opened at $2.40 on Wednesday. The stock has a fifty day moving average price of $2.24 and a two-hundred day moving average price of $3.35. Ceragon Networks Ltd. has a 52-week low of $1.95 and a 52-week high of $5.73. The firm has a market capitalization of $213.43 million, a P/E ratio of 8.89 and a beta of 1.04.

Ceragon Networks (NASDAQ:CRNT) last released its quarterly earnings data on Wednesday, May 7th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.02. Ceragon Networks had a return on equity of 21.32% and a net margin of 6.10%. On average, equities research analysts predict that Ceragon Networks Ltd. will post 0.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Wall Street Zen cut Ceragon Networks from a “buy” rating to a “hold” rating in a research report on Thursday, May 8th. Craig Hallum assumed coverage on Ceragon Networks in a research report on Thursday, March 13th. They issued a “buy” rating and a $5.00 target price for the company. Finally, Needham & Company LLC reduced their target price on Ceragon Networks from $6.00 to $4.50 and set a “buy” rating for the company in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Ceragon Networks has a consensus rating of “Buy” and an average target price of $6.00.

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.