ARK Investment Management LLC Purchases 124,647 Shares of Ceragon Networks Ltd. (NASDAQ:CRNT)

ARK Investment Management LLC boosted its position in shares of Ceragon Networks Ltd. (NASDAQ:CRNT) by 12.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,144,114 shares of the communications equipment provider’s stock after purchasing an additional 124,647 shares during the period. ARK Investment Management LLC owned about 1.36% of Ceragon Networks worth $2,471,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CRNT. Renaissance Technologies LLC increased its holdings in Ceragon Networks by 20.2% during the 1st quarter. Renaissance Technologies LLC now owns 654,135 shares of the communications equipment provider’s stock worth $1,393,000 after purchasing an additional 110,093 shares in the last quarter. Invesco Ltd. increased its holdings in Ceragon Networks by 171.1% during the 1st quarter. Invesco Ltd. now owns 214,051 shares of the communications equipment provider’s stock worth $456,000 after purchasing an additional 135,085 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Ceragon Networks by 772.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 543,037 shares of the communications equipment provider’s stock worth $1,157,000 after purchasing an additional 480,796 shares in the last quarter. Jane Street Group LLC bought a new position in Ceragon Networks during the 1st quarter worth about $25,000. Finally, JPMorgan Chase & Co. increased its holdings in Ceragon Networks by 72.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 164,057 shares of the communications equipment provider’s stock worth $422,000 after purchasing an additional 69,051 shares in the last quarter. Institutional investors own 13.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CRNT. TheStreet upgraded shares of Ceragon Networks from a “d+” rating to a “c-” rating in a research note on Tuesday, November 28th. StockNews.com downgraded shares of Ceragon Networks from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 2nd. Finally, Needham & Company LLC restated a “buy” rating and set a $5.25 price objective on shares of Ceragon Networks in a research note on Wednesday, February 21st.

Ceragon Networks Trading Down 0.3 %

Shares of Ceragon Networks stock traded down $0.01 during trading hours on Wednesday, reaching $3.18. 99,643 shares of the company’s stock were exchanged, compared to its average volume of 639,921. The company has a 50 day moving average of $2.80 and a two-hundred day moving average of $2.23. Ceragon Networks Ltd. has a fifty-two week low of $1.56 and a fifty-two week high of $3.38. The stock has a market cap of $272.08 million, a P/E ratio of 45.58 and a beta of 1.48.

Ceragon Networks (NASDAQ:CRNT) last posted its quarterly earnings data on Tuesday, February 20th. The communications equipment provider reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. Ceragon Networks had a net margin of 1.79% and a return on equity of 9.95%. The company had revenue of $90.36 million during the quarter. During the same quarter in the prior year, the company earned ($0.01) earnings per share. As a group, analysts expect that Ceragon Networks Ltd. will post 0.18 earnings per share for the current fiscal year.

Ceragon Networks Company Profile

Ceragon Networks Ltd. provides wireless transport solutions for cellular operators and other wireless service providers. Its solutions use microwave and millimeter wave radio technology to transfer telecommunication traffic between base stations, small/distributed cells, and service provider's network.