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 business’s 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 in the company, valued at $117,130. This trade represents a 13.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Ceragon Networks Trading Up 4.9%

CRNT stock opened at $2.79 on Wednesday. Ceragon Networks Ltd. has a 52 week low of $1.82 and a 52 week high of $2.87. The company has a market capitalization of $253.58 million, a price-to-earnings ratio of -139.50 and a beta of 1.32. The firm’s 50-day moving average is $2.43 and its two-hundred day moving average is $2.27.

Ceragon Networks (NASDAQ:CRNT) last released 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 company had revenue of $85.00 million for the quarter. On average, equities research analysts predict that Ceragon Networks Ltd. will post 0.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

CRNT has been the subject of several research reports. Roth Mkm restated a “buy” rating and set a $4.50 price objective on shares of Ceragon Networks in a research report on Tuesday, May 19th. Zacks Research upgraded shares of Ceragon Networks from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. 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 objective for the company. Needham & Company LLC restated a “buy” rating and set a $3.00 price objective on shares of Ceragon Networks in a research report 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 report on Wednesday, May 20th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $3.75.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CRNT. BNP Paribas Financial Markets acquired a new position in shares of Ceragon Networks in the second quarter worth about $26,000. Jones Financial Companies Lllp boosted its holdings 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 buying an additional 8,500 shares during the period. Walleye Capital LLC acquired a new position in shares of Ceragon Networks in the fourth quarter worth about $27,000. Tamar Securities LLC boosted its holdings 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 buying an additional 6,848 shares during the period. Finally, HRT Financial LP boosted its holdings 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 buying an additional 6,039 shares during the period. 13.31% of the stock is currently owned by institutional investors and hedge funds.

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.