Alpha Paradigm Partners LLC acquired a new stake in shares of Ceragon Networks Ltd. (NASDAQ:CRNT) during the second quarter, Holdings Channel reports. The fund acquired 101,610 shares of the communications equipment provider’s stock, valued at approximately $383,000.
Several other large investors also recently made changes to their positions in CRNT. JPMorgan Chase & Co. bought a new stake in shares of Ceragon Networks in the first quarter worth about $833,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Ceragon Networks in the first quarter worth about $40,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Ceragon Networks in the first quarter worth about $278,000. Van ECK Associates Corp grew its stake in shares of Ceragon Networks by 15.6% in the second quarter. Van ECK Associates Corp now owns 24,796 shares of the communications equipment provider’s stock worth $93,000 after purchasing an additional 3,348 shares during the last quarter. Finally, Barclays PLC bought a new stake in shares of Ceragon Networks in the first quarter worth about $186,000. 13.48% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have commented on the stock. Aegis assumed coverage on shares of Ceragon Networks in a report on Wednesday, September 15th. They issued a “buy” rating and a $6.00 price objective for the company. Needham & Company LLC raised their price objective on shares of Ceragon Networks from $4.50 to $4.75 and gave the stock a “buy” rating in a report on Monday, July 19th. Finally, Zacks Investment Research upgraded shares of Ceragon Networks from a “sell” rating to a “hold” rating in a report on Monday, October 4th.
Ceragon Networks (NASDAQ:CRNT) last released its earnings results on Sunday, August 1st. The communications equipment provider reported ($0.01) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. Ceragon Networks had a negative net margin of 2.71% and a negative return on equity of 2.69%. The firm had revenue of $68.62 million during the quarter, compared to analyst estimates of $68.27 million. Analysts forecast that Ceragon Networks Ltd. will post -0.03 earnings per share for the current year.
Ceragon Networks Profile
Ceragon Networks Ltd. engages in the provision of wireless backhaul solutions. Its products include radio units, management systems, small cell hauling, packet and hybrid microwave, and long haul solutions. The company was founded on July 23, 1996 and is headquartered in Tel Aviv, Israel.
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