Key Points
- Ceragon Networks director Efrat Makov sold 6,667 shares on May 22 at an average price of $2.65, totaling $17,667.55. After the sale, Makov still held 44,200 shares, a 13.11% reduction in ownership.
- CRNT shares were trading near recent highs, opening at $2.79 and sitting between a 52-week low of $1.82 and a high of $2.87. The company has a market cap of about $253.58 million.
- Analysts remain mostly constructive on the stock, with four Buy ratings, one Hold, and one Sell, and an average price target of $3.75. Recent reports from Craig Hallum, Roth Mkm, and Lake Street Capital all maintained Buy ratings.
Ceragon Networks Ltd. (NASDAQ:CRNT - Get Free Report) Director Efrat Makov sold 6,667 shares of the firm's 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 sale, the director owned 44,200 shares of the company's stock, valued at approximately $117,130. This represents a 13.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Ceragon Networks Stock Performance
CRNT stock opened at $2.79 on Wednesday. The stock has a market cap of $253.58 million, a P/E ratio of -139.50 and a beta of 1.32. The firm has a 50 day simple moving average of $2.43 and a 200 day simple moving average of $2.27. Ceragon Networks Ltd. has a 52 week low of $1.82 and a 52 week high of $2.87.
Ceragon Networks (NASDAQ:CRNT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 15th. The communications equipment provider reported $0.01 EPS for the quarter. The business had revenue of $85.00 million during the quarter. Ceragon Networks had a negative net margin of 0.73% and a positive return on equity of 2.27%. Sell-side analysts predict that Ceragon Networks Ltd. will post 0.15 EPS for the current year.
Analyst Upgrades and Downgrades
Several research firms recently commented on CRNT. Craig Hallum restated a "buy" rating and set a $4.00 price target on shares of Ceragon Networks in a report on Wednesday, May 20th. Roth Mkm restated a "buy" rating and set a $4.50 price target on shares of Ceragon Networks in a report on Tuesday, May 19th. Lake Street Capital began coverage on shares of Ceragon Networks in a report on Tuesday, March 31st. They set a "buy" rating and a $3.50 price target for the company. Wall Street Zen upgraded shares of Ceragon Networks from a "hold" rating to a "strong-buy" rating in a report on Saturday. Finally, Weiss Ratings lowered shares of Ceragon Networks from a "hold (c-)" rating to a "sell (d)" rating in a research report on Monday, April 20th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $3.75.
Check Out Our Latest Research Report on Ceragon Networks
Hedge Funds Weigh In On Ceragon Networks
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRNT. NewEdge Advisors LLC raised its position in Ceragon Networks by 132.2% during the first quarter. NewEdge Advisors LLC now owns 106,255 shares of the communications equipment provider's stock valued at $250,000 after acquiring an additional 60,498 shares in the last quarter. Qube Research & Technologies Ltd raised its position in Ceragon Networks by 100.4% during the second quarter. Qube Research & Technologies Ltd now owns 580,093 shares of the communications equipment provider's stock valued at $1,427,000 after acquiring an additional 290,695 shares in the last quarter. Squarepoint Ops LLC raised its position in Ceragon Networks by 642.7% during the second quarter. Squarepoint Ops LLC now owns 552,939 shares of the communications equipment provider's stock valued at $1,360,000 after acquiring an additional 478,489 shares in the last quarter. Bank of America Corp DE raised its position in Ceragon Networks by 31.7% during the second quarter. Bank of America Corp DE now owns 372,961 shares of the communications equipment provider's stock valued at $917,000 after acquiring an additional 89,821 shares in the last quarter. Finally, Boothbay Fund Management LLC raised its position in Ceragon Networks by 85.6% during the second quarter. Boothbay Fund Management LLC now owns 134,364 shares of the communications equipment provider's stock valued at $331,000 after acquiring an additional 61,976 shares in the last quarter. Institutional investors own 13.31% of the company's stock.
About Ceragon Networks
(
Get Free Report)
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.
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