Oppenheimer & Co. Inc. Sells 20,000 Shares of Ceragon Networks Ltd. (NASDAQ:CRNT)

Oppenheimer & Co. Inc. trimmed its position in Ceragon Networks Ltd. (NASDAQ:CRNT) by 62.5% during the third quarter, Holdings Channel reports. The institutional investor owned 12,000 shares of the communications equipment provider’s stock after selling 20,000 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Ceragon Networks were worth $33,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CRNT. Acadian Asset Management LLC boosted its position in Ceragon Networks by 25.7% in the 2nd quarter. Acadian Asset Management LLC now owns 1,955,161 shares of the communications equipment provider’s stock valued at $4,878,000 after buying an additional 400,161 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Ceragon Networks by 35.4% in the 2nd quarter. Renaissance Technologies LLC now owns 643,816 shares of the communications equipment provider’s stock worth $1,610,000 after purchasing an additional 168,416 shares during the last quarter. Kennedy Capital Management LLC bought a new position in shares of Ceragon Networks in the 1st quarter worth $316,000. Lazard Asset Management LLC boosted its position in shares of 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 purchasing an additional 93,818 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Ceragon Networks in the 2nd quarter worth $56,000. 13.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CRNT shares. Roth Mkm started coverage on Ceragon Networks in a research report on Monday, October 28th. They issued a “buy” rating and a $4.50 price target on the stock. Needham & Company LLC restated a “buy” rating and issued a $5.25 price target on shares of Ceragon Networks in a research report on Thursday, August 8th. Finally, Roth Capital upgraded Ceragon Networks to a “strong-buy” rating in a research report on Monday, October 28th. Two investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Strong Buy” and a consensus price target of $4.88.

Ceragon Networks Trading Up 14.6 %

Shares of Ceragon Networks stock opened at $3.70 on Friday. The company has a market capitalization of $316.05 million, a PE ratio of 16.82 and a beta of 1.35. Ceragon Networks Ltd. has a 12 month low of $1.75 and a 12 month high of $3.71. The stock’s fifty day simple moving average is $2.65 and its 200 day simple moving average is $2.68.

About Ceragon Networks

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.