11,529 Shares in Ceragon Networks Ltd. (NASDAQ:CRNT) Purchased by Penn Capital Management Company LLC

Penn Capital Management Company LLC acquired a new position in shares of Ceragon Networks Ltd. (NASDAQ:CRNT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,529 shares of the communications equipment provider’s stock, valued at approximately $54,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Commonwealth Equity Services LLC bought a new stake in shares of Ceragon Networks in the 4th quarter worth approximately $58,000. Bravias Capital Group LLC bought a new stake in Ceragon Networks in the fourth quarter worth $71,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Ceragon Networks in the fourth quarter worth $81,000. Perigon Wealth Management LLC bought a new position in shares of Ceragon Networks during the fourth quarter valued at $90,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of Ceragon Networks in the 3rd quarter worth about $104,000. Hedge funds and other institutional investors own 13.31% of the company’s stock.

Ceragon Networks Stock Up 3.9 %

Shares of NASDAQ CRNT opened at $2.15 on Friday. The firm’s 50-day moving average price is $2.47 and its 200-day moving average price is $3.39. Ceragon Networks Ltd. has a 52-week low of $1.95 and a 52-week high of $5.73. The company has a market cap of $191.20 million, a PE ratio of 7.96 and a beta of 1.60.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CRNT. Craig Hallum assumed coverage on shares of Ceragon Networks in a research note on Thursday, March 13th. They set a “buy” rating and a $5.00 price objective for the company. StockNews.com raised shares of Ceragon Networks from a “hold” rating to a “buy” rating in a research report on Wednesday, April 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Ceragon Networks in a research report on Wednesday, February 12th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $6.38.

Ceragon Networks Company 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.