Ceragon Networks (NASDAQ:CRNT) Director Efrat Makov Sells 6,667 Shares

Ceragon Networks Ltd. (NASDAQ:CRNT) Director Efrat Makov sold 6,667 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $2.65, for a total transaction of $17,667.55. Following the completion of the transaction, the director owned 44,200 shares of the company’s stock, valued at $117,130. This trade represents a 13.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Ceragon Networks Stock Performance

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

Ceragon Networks (NASDAQ:CRNT) last announced its earnings results on Wednesday, April 15th. The communications equipment provider reported $0.01 earnings per share 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%. Equities research analysts predict that Ceragon Networks Ltd. will post 0.15 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Ceragon Networks from a “hold” rating to a “strong-buy” rating in a research note on Saturday. Craig Hallum restated a “buy” rating and issued a $4.00 target price on shares of Ceragon Networks in a research note on Wednesday, May 20th. Zacks Research upgraded shares of Ceragon Networks from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. Lake Street Capital assumed coverage on shares of Ceragon Networks in a research note on Tuesday, March 31st. They issued a “buy” rating and a $3.50 target price for the company. Finally, Roth Mkm restated a “buy” rating and issued a $4.50 target price on shares of Ceragon Networks in a research note on Tuesday, May 19th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Ceragon Networks presently has an average rating of “Moderate Buy” and an average price target of $3.75.

Institutional Trading of Ceragon Networks

Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets acquired a new stake in Ceragon Networks in the second quarter valued at $26,000. Jones Financial Companies Lllp raised its holdings in 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 valued at $27,000 after acquiring an additional 8,500 shares in the last quarter. Walleye Capital LLC acquired a new stake in Ceragon Networks in the fourth quarter valued at $27,000. Tamar Securities LLC raised its holdings in Ceragon Networks by 67.3% in the fourth quarter. Tamar Securities LLC now owns 17,016 shares of the communications equipment provider’s stock valued at $36,000 after acquiring an additional 6,848 shares in the last quarter. Finally, HRT Financial LP raised its holdings in Ceragon Networks by 44.3% in 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. 13.31% of the stock is owned by institutional investors and hedge funds.

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.