24,750 Shares in Ceragon Networks Ltd. $CRNT Acquired by State of Wyoming

State of Wyoming bought a new position in shares of Ceragon Networks Ltd. (NASDAQ:CRNT) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 24,750 shares of the communications equipment provider’s stock, valued at approximately $58,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. First Wilshire Securities Management Inc. lifted its stake in Ceragon Networks by 11.4% during the first quarter. First Wilshire Securities Management Inc. now owns 3,282,992 shares of the communications equipment provider’s stock worth $7,715,000 after purchasing an additional 336,646 shares during the last quarter. Millennium Management LLC increased its position in shares of Ceragon Networks by 123.9% during the fourth quarter. Millennium Management LLC now owns 962,898 shares of the communications equipment provider’s stock worth $4,497,000 after purchasing an additional 532,798 shares in the last quarter. KLCM Advisors Inc. acquired a new stake in shares of Ceragon Networks during the first quarter worth about $1,871,000. Lazard Asset Management LLC increased its position in shares of Ceragon Networks by 26.7% during the fourth quarter. Lazard Asset Management LLC now owns 570,288 shares of the communications equipment provider’s stock worth $2,663,000 after purchasing an additional 120,106 shares in the last quarter. Finally, Walleye Capital LLC increased its position in shares of Ceragon Networks by 22.7% during the first quarter. Walleye Capital LLC now owns 346,117 shares of the communications equipment provider’s stock worth $813,000 after purchasing an additional 64,087 shares in the last quarter. Hedge funds and other institutional investors own 13.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Roth Capital reduced their price objective on Ceragon Networks from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Friday, July 18th. Needham & Company LLC reduced their price objective on Ceragon Networks from $4.50 to $3.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $5.30.

Ceragon Networks Trading Down 1.0%

NASDAQ:CRNT opened at $2.00 on Wednesday. The firm has a market cap of $177.86 million, a P/E ratio of 12.50 and a beta of 1.08. The stock’s 50 day simple moving average is $2.18 and its 200-day simple moving average is $2.30. Ceragon Networks Ltd. has a 12-month low of $1.82 and a 12-month 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.