Millrace Asset Group Inc. Decreases Position in Ceragon Networks Ltd. (NASDAQ:CRNT)

Millrace Asset Group Inc. reduced its stake in shares of Ceragon Networks Ltd. (NASDAQ:CRNT) by 35.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 248,440 shares of the communications equipment provider’s stock after selling 134,263 shares during the quarter. Millrace Asset Group Inc. owned 0.29% of Ceragon Networks worth $681,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. WINTON GROUP Ltd purchased a new stake in shares of Ceragon Networks during the second quarter valued at approximately $26,000. Cubist Systematic Strategies LLC acquired a new stake in Ceragon Networks during the 2nd quarter valued at $56,000. Sei Investments Co. increased its stake in Ceragon Networks by 45.7% during the 2nd quarter. Sei Investments Co. now owns 27,423 shares of the communications equipment provider’s stock worth $69,000 after buying an additional 8,607 shares during the period. Lazard Asset Management LLC lifted its holdings in Ceragon Networks by 9,906.9% in the 1st quarter. Lazard Asset Management LLC now owns 94,765 shares of the communications equipment provider’s stock worth $303,000 after buying an additional 93,818 shares in the last quarter. Finally, Kennedy Capital Management LLC purchased a new position in Ceragon Networks in the 1st quarter valued at about $316,000. 13.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Roth Capital raised Ceragon Networks to a “strong-buy” rating in a research report on Monday, October 28th. Needham & Company LLC restated a “buy” rating and set a $5.25 price objective on shares of Ceragon Networks in a report on Thursday, August 8th. Finally, Roth Mkm assumed coverage on Ceragon Networks in a research note on Monday, October 28th. They set a “buy” rating and a $4.50 target price for the company. Two research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Strong Buy” and an average price target of $4.88.

Ceragon Networks Stock Performance

NASDAQ:CRNT opened at $4.06 on Tuesday. The stock has a 50-day simple moving average of $2.65 and a 200 day simple moving average of $2.67. Ceragon Networks Ltd. has a one year low of $1.79 and a one year high of $4.16. The company has a market capitalization of $346.81 million, a price-to-earnings ratio of 18.46 and a beta of 1.35.

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.