Almanack Investment Partners LLC. Takes Position in Ceragon Networks Ltd. $CRNT

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

Other large investors have also made changes to their positions in the company. Axis Wealth Partners LLC purchased a new position in shares of Ceragon Networks in the second quarter valued at about $26,000. Worth Venture Partners LLC purchased a new position in shares of Ceragon Networks in the first quarter valued at about $47,000. State of Wyoming purchased a new position in shares of Ceragon Networks in the first quarter valued at about $58,000. Quantbot Technologies LP purchased a new position in shares of Ceragon Networks in the first quarter valued at about $90,000. Finally, Independent Advisor Alliance purchased a new position in shares of Ceragon Networks in the first quarter valued at about $216,000. 13.31% of the stock is currently owned by hedge funds and other institutional investors.

Ceragon Networks Trading Up 4.4%

NASDAQ:CRNT opened at $2.38 on Tuesday. The company has a market capitalization of $211.65 million, a P/E ratio of 14.88 and a beta of 1.15. Ceragon Networks Ltd. has a 12 month low of $1.82 and a 12 month high of $5.73. The business’s 50-day moving average is $2.14 and its 200 day moving average is $2.25.

Analyst Ratings Changes

Several brokerages have recently commented on CRNT. Needham & Company LLC restated a “buy” rating and issued a $3.00 price objective on shares of Ceragon Networks in a research report on Thursday, September 18th. Weiss Ratings restated a “sell (d)” rating on shares of Ceragon Networks in a research report on Wednesday, October 8th. Roth Capital decreased their target price on Ceragon Networks from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Friday, July 18th. Finally, Zacks Research upgraded Ceragon Networks from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $5.30.

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.