Almanack Investment Partners LLC. Invests $100,000 in Ceragon Networks Ltd. $CRNT

Almanack Investment Partners LLC. purchased a new position in Ceragon Networks Ltd. (NASDAQ:CRNT) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 40,547 shares of the communications equipment provider’s stock, valued at approximately $100,000.

Other hedge funds have also recently modified their holdings of the company. Axis Wealth Partners LLC bought a new stake in shares of Ceragon Networks in the second quarter worth $26,000. Worth Venture Partners LLC bought a new stake in shares of Ceragon Networks in the first quarter worth $47,000. State of Wyoming bought a new stake in shares of Ceragon Networks in the first quarter worth $58,000. Quantbot Technologies LP bought a new stake in shares of Ceragon Networks in the first quarter worth $90,000. Finally, Independent Advisor Alliance bought a new stake in shares of Ceragon Networks in the first quarter worth $216,000. Hedge funds and other institutional investors own 13.31% of the company’s stock.

Ceragon Networks Stock Performance

NASDAQ:CRNT opened at $2.38 on Tuesday. The stock has a 50-day simple moving average of $2.14 and a two-hundred day simple moving average of $2.25. Ceragon Networks Ltd. has a 52-week low of $1.82 and a 52-week high of $5.73. The firm has a market capitalization of $211.65 million, a PE ratio of 14.88 and a beta of 1.15.

Wall Street Analysts Forecast Growth

CRNT has been the subject of several research analyst reports. Zacks Research raised Ceragon Networks from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $3.00 price objective on shares of Ceragon Networks in a report on Thursday, September 18th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ceragon Networks in a report on Wednesday, October 8th. Finally, Roth Capital cut their price objective on Ceragon Networks from $5.00 to $4.00 and set a “buy” rating for the company in a report on Friday, July 18th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $5.30.

Ceragon Networks 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.