Ceragon Networks (NASDAQ:CRNT) Director Sells $17,667.55 in Stock

Ceragon Networks Ltd. (NASDAQ:CRNT) Director Efrat Makov sold 6,667 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $2.65, for a total transaction of $17,667.55. Following the completion of the sale, the director owned 44,200 shares in the company, valued at $117,130. This represents a 13.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ceragon Networks Price Performance

Shares of NASDAQ:CRNT opened at $2.86 on Friday. The company’s fifty day moving average price is $2.45 and its 200-day moving average price is $2.28. The firm has a market capitalization of $259.95 million, a price-to-earnings ratio of -143.00 and a beta of 1.32. Ceragon Networks Ltd. has a one year low of $1.82 and a one year high of $2.90.

Ceragon Networks (NASDAQ:CRNT) last issued its quarterly earnings results on Wednesday, April 15th. The communications equipment provider reported $0.01 EPS for the quarter. The firm had revenue of $85.00 million for the quarter. Ceragon Networks had a negative net margin of 0.73% and a positive return on equity of 2.27%. As a group, equities research analysts expect that Ceragon Networks Ltd. will post 0.12 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wall Street Zen raised shares of Ceragon Networks from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 23rd. Needham & Company LLC reissued a “buy” rating and issued a $3.00 price target on shares of Ceragon Networks in a report on Wednesday, May 20th. Roth Mkm reissued a “buy” rating and issued a $4.50 price target on shares of Ceragon Networks in a report on Tuesday, May 19th. Weiss Ratings upgraded shares of Ceragon Networks from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday. Finally, Lake Street Capital began coverage on shares of Ceragon Networks in a report on Tuesday, March 31st. They issued a “buy” rating and a $3.50 price objective for the company. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $3.75.

Hedge Funds Weigh In On Ceragon Networks

Institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets bought a new position in shares of Ceragon Networks during the 2nd quarter valued at $26,000. Jones Financial Companies Lllp grew its holdings in shares of Ceragon Networks by 283.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 11,500 shares of the communications equipment provider’s stock valued at $27,000 after purchasing an additional 8,500 shares during the last quarter. Walleye Capital LLC bought a new position in shares of Ceragon Networks during the 4th quarter valued at $27,000. Tamar Securities LLC grew its holdings in shares of Ceragon Networks by 67.3% during the 4th quarter. Tamar Securities LLC now owns 17,016 shares of the communications equipment provider’s stock valued at $36,000 after purchasing an additional 6,848 shares during the last quarter. Finally, HRT Financial LP grew its holdings in Ceragon Networks by 44.3% in the 4th quarter. HRT Financial LP now owns 19,660 shares of the communications equipment provider’s stock worth $41,000 after acquiring an additional 6,039 shares during the last quarter. Institutional investors own 13.31% of the company’s stock.

Ceragon Networks Company Profile

Ceragon Networks Ltd. is a global provider of wireless backhaul solutions, specializing in high-capacity, low-latency connectivity for mobile operators and private networks. The company designs and manufactures a portfolio of microwave and millimeter-wave equipment that serves as a fiber alternative for carrying voice, data and video traffic between cell sites and core networks. Ceragon’s solutions are engineered to support the rigorous performance requirements of modern 4G and 5G deployments, with an emphasis on scalability, reliability and efficient spectrum utilization.

The company’s product lineup includes point-to-point and multi-point radio platforms, as well as software-driven network management tools that enable operators to plan, deploy and monitor end-to-end transport networks.