Ceragon Networks (CRNT) Sees Unusually-High Trading Volume
Ceragon Networks Ltd (NASDAQ:CRNT) saw strong trading volume on Monday . 2,085,236 shares changed hands during trading, an increase of 198% from the previous session’s volume of 699,452 shares.The stock last traded at $4.23 and had previously closed at $3.76.
Several research analysts recently issued reports on the company. BidaskClub raised Ceragon Networks from a “sell” rating to a “hold” rating in a research report on Thursday, April 11th. Zacks Investment Research raised Ceragon Networks from a “hold” rating to a “buy” rating and set a $4.75 target price on the stock in a research report on Friday, February 22nd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Ceragon Networks presently has a consensus rating of “Buy” and a consensus target price of $4.66.
The stock has a market capitalization of $301.33 million, a price-to-earnings ratio of 21.15, a price-to-earnings-growth ratio of 1.04 and a beta of 1.05.
A number of hedge funds have recently bought and sold shares of CRNT. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Ceragon Networks in the first quarter worth $54,000. Panagora Asset Management Inc. boosted its position in Ceragon Networks by 1,581.7% in the third quarter. Panagora Asset Management Inc. now owns 36,475 shares of the communications equipment provider’s stock worth $123,000 after purchasing an additional 34,306 shares during the last quarter. Harvest Management LLC boosted its position in Ceragon Networks by 5.8% in the fourth quarter. Harvest Management LLC now owns 58,200 shares of the communications equipment provider’s stock worth $220,000 after purchasing an additional 3,200 shares during the last quarter. BlackRock Inc. boosted its position in Ceragon Networks by 21.1% in the third quarter. BlackRock Inc. now owns 96,984 shares of the communications equipment provider’s stock worth $327,000 after purchasing an additional 16,925 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new position in Ceragon Networks in the third quarter worth $404,000. 26.49% of the stock is currently owned by institutional investors and hedge funds.
Ceragon Networks Company Profile (NASDAQ:CRNT)
Ceragon Networks Ltd. provides wireless backhaul solutions that enable cellular operators and other wireless service providers to deliver voice and data services worldwide. Its wireless backhaul solutions use microwave and millimeter wave technology to transfer telecommunication traffic between base stations, small sells, and the core of the service provider's network.
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