Ceragon Networks (NASDAQ:CRNT) Director Efrat Makov Sells 5,000 Shares

Ceragon Networks Ltd. (NASDAQ:CRNT) Director Efrat Makov sold 5,000 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $2.99, for a total transaction of $14,950.00. Following the completion of the transaction, the director owned 58,950 shares in the company, valued at $176,260.50. This represents a 7.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 opened at $2.99 on Monday. The firm has a market cap of $271.76 million, a PE ratio of -149.50 and a beta of 1.35. The company’s 50 day simple moving average is $2.62 and its 200-day simple moving average is $2.35. Ceragon Networks Ltd. has a 12-month low of $1.82 and a 12-month high of $3.29.

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

Analysts Set New Price Targets

CRNT has been the subject of a number of recent research reports. Zacks Research upgraded Ceragon Networks from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. Wall Street Zen upgraded Ceragon Networks from a “hold” rating to a “strong-buy” rating in a research note on Saturday, May 23rd. Roth Mkm restated a “buy” rating and set a $4.50 price objective on shares of Ceragon Networks in a research note on Tuesday, May 19th. Needham & Company LLC restated a “buy” rating and set a $3.00 price objective on shares of Ceragon Networks in a research note on Wednesday, May 20th. Finally, Craig Hallum restated a “buy” rating and set a $4.00 price objective on shares of Ceragon Networks in a research note on Wednesday, May 20th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $3.75.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CRNT. BNP Paribas Financial Markets bought a new position in shares of Ceragon Networks in the second quarter worth $26,000. Jones Financial Companies Lllp grew 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 bought a new position in shares of Ceragon Networks in the fourth quarter worth $27,000. Tamar Securities LLC grew 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 shares of Ceragon Networks by 44.3% in the fourth quarter. HRT Financial LP now owns 19,660 shares of the communications equipment provider’s stock worth $41,000 after purchasing an additional 6,039 shares in the last quarter. 13.31% of the stock is currently owned by institutional investors.

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.