Ceragon Networks Ltd. $CRNT Shares Bought by First Wilshire Securities Management Inc.

First Wilshire Securities Management Inc. grew its stake in Ceragon Networks Ltd. (NASDAQ:CRNT) by 18.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,854,150 shares of the communications equipment provider’s stock after buying an additional 740,358 shares during the quarter. Ceragon Networks accounts for about 2.4% of First Wilshire Securities Management Inc.’s portfolio, making the stock its 14th largest holding. First Wilshire Securities Management Inc. owned about 0.05% of Ceragon Networks worth $10,485,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of CRNT. Evergreen Capital Management LLC acquired a new stake in Ceragon Networks during the second quarter worth about $187,000. Worth Venture Partners LLC acquired a new position in Ceragon Networks in the third quarter valued at approximately $122,000. Verition Fund Management LLC acquired a new position in Ceragon Networks in the fourth quarter valued at approximately $64,000. HRT Financial LP boosted its position in Ceragon Networks by 44.3% in the 4th quarter. HRT Financial LP now owns 19,660 shares of the communications equipment provider’s stock worth $41,000 after purchasing an additional 6,039 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in Ceragon Networks by 49.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 15,817 shares of the communications equipment provider’s stock worth $37,000 after purchasing an additional 5,211 shares in the last quarter. Hedge funds and other institutional investors own 13.31% of the company’s stock.

Ceragon Networks Stock Performance

Shares of NASDAQ CRNT opened at $2.28 on Wednesday. The firm has a market cap of $207.24 million, a PE ratio of -114.00 and a beta of 1.36. The firm has a fifty day moving average of $2.61 and a 200 day moving average of $2.43. Ceragon Networks Ltd. has a one year low of $1.82 and a one year high of $3.29.

Ceragon Networks (NASDAQ:CRNT) last posted its quarterly earnings data on Wednesday, April 15th. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter. Ceragon Networks had a negative net margin of 0.73% and a positive return on equity of 2.27%. The business had revenue of $85.00 million for the quarter. On average, equities analysts predict that Ceragon Networks Ltd. will post 0.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CRNT has been the subject of several recent research reports. Lake Street Capital assumed coverage on shares of Ceragon Networks in a report on Tuesday, March 31st. They set a “buy” rating and a $3.50 target price for the company. Craig Hallum reissued a “buy” rating and set a $4.00 price target on shares of Ceragon Networks in a report on Wednesday, May 20th. Roth Capital restated a “buy” rating and set a $4.50 price target on shares of Ceragon Networks in a research report on Tuesday, May 19th. Wall Street Zen raised shares of Ceragon Networks from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 23rd. Finally, Weiss Ratings upgraded shares of Ceragon Networks from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, May 26th. Four research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $3.75.

Ceragon Networks Company Profile

Ceragon Networks Ltd. is a global provider of wireless backhaul solutions, specializing in high-capacity, low-latency connectivity for mobile operators and private networks. The company designs and manufactures a portfolio of microwave and millimeter-wave equipment that serves as a fiber alternative for carrying voice, data and video traffic between cell sites and core networks. Ceragon’s solutions are engineered to support the rigorous performance requirements of modern 4G and 5G deployments, with an emphasis on scalability, reliability and efficient spectrum utilization.

The company’s product lineup includes point-to-point and multi-point radio platforms, as well as software-driven network management tools that enable operators to plan, deploy and monitor end-to-end transport networks.