Polymer Capital Management HK LTD Invests $486,000 in Ceragon Networks Ltd. (NASDAQ:CRNT)

Polymer Capital Management HK LTD purchased a new stake in Ceragon Networks Ltd. (NASDAQ:CRNT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 103,998 shares of the communications equipment provider’s stock, valued at approximately $486,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CRNT. Walleye Capital LLC boosted its position in Ceragon Networks by 95.1% in the 3rd quarter. Walleye Capital LLC now owns 283,933 shares of the communications equipment provider’s stock valued at $778,000 after buying an additional 138,411 shares during the last quarter. Inspire Investing LLC acquired a new position in shares of Ceragon Networks during the fourth quarter valued at $903,000. JPMorgan Chase & Co. bought a new position in Ceragon Networks in the third quarter valued at about $104,000. Perigon Wealth Management LLC acquired a new stake in Ceragon Networks in the fourth quarter worth about $90,000. Finally, Navellier & Associates Inc. bought a new stake in Ceragon Networks during the 4th quarter worth about $1,804,000. Institutional investors and hedge funds own 13.31% of the company’s stock.

Ceragon Networks Price Performance

Shares of CRNT stock opened at $2.10 on Monday. The stock has a market cap of $186.56 million, a PE ratio of 7.78 and a beta of 1.60. The stock has a 50-day moving average of $3.20 and a 200-day moving average of $3.47. Ceragon Networks Ltd. has a one year low of $2.00 and a one year high of $5.73.

Wall Street Analyst Weigh In

CRNT has been the topic of several recent research reports. Craig Hallum assumed coverage on shares of Ceragon Networks in a research note on Thursday, March 13th. They issued a “buy” rating and a $5.00 target price on the stock. Needham & Company LLC restated a “buy” rating and issued a $6.00 price objective on shares of Ceragon Networks in a report on Wednesday, February 12th. Finally, StockNews.com lowered shares of Ceragon Networks from a “buy” rating to a “hold” rating in a report on Thursday, March 20th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Ceragon Networks presently has an average rating of “Buy” and an average price target of $6.38.

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.