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

Ceragon Networks Ltd. (NASDAQ:CRNT) Director Efrat Makov sold 6,667 shares of Ceragon Networks stock in a transaction dated 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 trade represents a 13.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Ceragon Networks Price Performance

Shares of NASDAQ CRNT opened at $2.66 on Tuesday. Ceragon Networks Ltd. has a 12 month low of $1.82 and a 12 month high of $2.84. The company has a 50-day simple moving average of $2.41 and a 200-day simple moving average of $2.27. The company has a market cap of $241.77 million, a PE ratio of -133.00 and a beta of 1.32.

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. Ceragon Networks had a negative net margin of 0.73% and a positive return on equity of 2.27%. The firm had revenue of $85.00 million during the quarter. On average, analysts anticipate that Ceragon Networks Ltd. will post 0.15 EPS for the current year.

Institutional Investors Weigh In On Ceragon Networks

Institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets purchased a new stake in Ceragon Networks during the second quarter worth approximately $26,000. Jones Financial Companies Lllp grew its stake in Ceragon Networks by 283.3% during the third quarter. Jones Financial Companies Lllp now owns 11,500 shares of the communications equipment provider’s stock worth $27,000 after buying an additional 8,500 shares during the period. Walleye Capital LLC purchased a new stake in Ceragon Networks during the fourth quarter worth approximately $27,000. Tamar Securities LLC grew its stake in Ceragon Networks by 67.3% during the fourth quarter. Tamar Securities LLC now owns 17,016 shares of the communications equipment provider’s stock worth $36,000 after buying an additional 6,848 shares during the period. 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 worth $41,000 after buying an additional 6,039 shares during the period. 13.31% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CRNT has been the subject of several research analyst reports. Lake Street Capital initiated coverage on shares of Ceragon Networks in a research report on Tuesday, March 31st. They set a “buy” rating and a $3.50 price target for the company. 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. Craig Hallum reaffirmed a “buy” rating and set a $4.00 price target on shares of Ceragon Networks in a research report on Wednesday, May 20th. Zacks Research raised shares of Ceragon Networks from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Finally, Wall Street Zen raised shares of Ceragon Networks from a “hold” rating to a “strong-buy” rating in a research report on Saturday. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $3.75.

About Ceragon Networks

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.