Key Points
- Director Efrat Makov sold 5,000 shares of Ceragon Networks at an average price of $2.99, totaling $14,950, and now directly owns 58,950 shares after the transaction.
- The sale follows another recent insider transaction by Makov, who also sold 6,667 shares on May 22 at an average price of $2.65.
- Ceragon Networks shares were trading around $3.00, and the stock has seen mixed analyst sentiment, with an average rating of Moderate Buy and an average price target of $3.75.
Ceragon Networks Ltd. (NASDAQ:CRNT - Get Free Report) Director Efrat Makov sold 5,000 shares of Ceragon Networks stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $2.99, for a total transaction of $14,950.00. Following the completion of the sale, the director directly owned 58,950 shares in the company, valued at approximately $176,260.50. This represents a 7.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Efrat Makov also recently made the following trade(s):
- On Friday, May 22nd, Efrat Makov sold 6,667 shares of Ceragon Networks stock. The stock was sold at an average price of $2.65, for a total transaction of $17,667.55.
Ceragon Networks Stock Performance
Shares of CRNT stock opened at $3.00 on Tuesday. The firm has a market cap of $272.67 million, a price-to-earnings ratio of -150.00 and a beta of 1.35. Ceragon Networks Ltd. has a 52 week low of $1.82 and a 52 week high of $3.29. The firm's 50-day simple moving average is $2.63 and its two-hundred day simple moving average is $2.35.
Ceragon Networks (NASDAQ:CRNT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 15th. The communications equipment provider reported $0.01 EPS for the quarter. The business 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%. Analysts forecast that Ceragon Networks Ltd. will post 0.12 earnings per share for the current year.
Analyst Ratings Changes
Several brokerages have commented on CRNT. Zacks Research raised shares of Ceragon Networks from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 21st. Needham & Company LLC reaffirmed a "buy" rating and issued a $3.00 price objective on shares of Ceragon Networks in a research report on Wednesday, May 20th. Wall Street Zen upgraded shares of Ceragon Networks from a "hold" rating to a "strong-buy" rating in a research note on Saturday, May 23rd. Roth Mkm reiterated a "buy" rating and issued a $4.50 target price on shares of Ceragon Networks in a research note on Tuesday, May 19th. Finally, Craig Hallum reiterated a "buy" rating and issued a $4.00 target price on shares of Ceragon Networks in a research note on Wednesday, May 20th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's 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 Analysis on CRNT
Hedge Funds Weigh In On Ceragon Networks
Several large investors have recently modified their holdings of CRNT. BNP Paribas Financial Markets purchased a new position in shares of Ceragon Networks in the second quarter worth about $26,000. Jones Financial Companies Lllp increased its stake in shares of Ceragon Networks by 283.3% in the third quarter. Jones Financial Companies Lllp now owns 11,500 shares of the communications equipment provider's stock worth $27,000 after purchasing an additional 8,500 shares in the last quarter. Walleye Capital LLC purchased a new position in shares of Ceragon Networks in the fourth quarter worth about $27,000. Tamar Securities LLC increased its stake in shares of Ceragon Networks by 67.3% in the fourth quarter. Tamar Securities LLC now owns 17,016 shares of the communications equipment provider's stock worth $36,000 after purchasing an additional 6,848 shares in the last quarter. Finally, HRT Financial LP grew its stake in Ceragon Networks by 44.3% during the fourth quarter. HRT Financial LP now owns 19,660 shares of the communications equipment provider's stock valued at $41,000 after acquiring an additional 6,039 shares in the last quarter. Hedge funds and other institutional investors own 13.31% of the company's stock.
Ceragon Networks Company Profile
(
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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