Ceragon Networks (NASDAQ:CRNT) Director Sells $14,950.00 in Stock

Ceragon Networks Ltd. (NASDAQ:CRNT) Director Efrat Makov sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $2.99, for a total transaction of $14,950.00. Following the completion of the transaction, the director directly owned 58,950 shares of the company’s stock, valued at approximately $176,260.50. This trade represents a 7.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Efrat Makov also recently made the following trade(s):

• On Friday, May 22nd, Efrat Makov sold 6,667 shares of Ceragon Networks stock. The shares were sold at an average price of $2.65, for a total transaction of $17,667.55.

Ceragon Networks Stock Performance

Ceragon Networks stock opened at $2.99 on Monday. The firm’s fifty day moving average price is $2.62 and its 200-day moving average price is $2.35. The stock has a market cap of $271.76 million, a P/E ratio of -149.50 and a beta of 1.35. Ceragon Networks Ltd. has a fifty-two week low of $1.82 and a fifty-two week high of $3.29.

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 firm had revenue of $85.00 million for the quarter. Ceragon Networks had a negative net margin of 0.73% and a positive return on equity of 2.27%. On average, analysts predict that Ceragon Networks Ltd. will post 0.12 earnings per share for the current year.

Analyst Ratings Changes

CRNT has been the topic of a number of research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $3.00 target price on shares of Ceragon Networks in a research note on Wednesday, May 20th. Weiss Ratings raised shares of Ceragon Networks from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, May 26th. Craig Hallum reissued a “buy” rating and set a $4.00 price objective on shares of Ceragon Networks in a research note on Wednesday, May 20th. Zacks Research raised shares of Ceragon Networks from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Finally, Wall Street Zen upgraded shares of Ceragon Networks from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 23rd. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $3.75.

Institutional Trading of Ceragon Networks

Institutional investors have recently bought and sold shares of the stock. CSM Advisors LLC purchased a new position in Ceragon Networks during the 3rd quarter worth approximately $4,819,000. Legato Capital Management LLC increased its stake in Ceragon Networks by 33.1% during the third quarter. Legato Capital Management LLC now owns 410,361 shares of the communications equipment provider’s stock worth $956,000 after purchasing an additional 102,077 shares during the period. GSA Capital Partners LLP increased its stake in Ceragon Networks by 283.2% during the third quarter. GSA Capital Partners LLP now owns 82,577 shares of the communications equipment provider’s stock worth $192,000 after purchasing an additional 61,027 shares during the period. Jones Financial Companies Lllp increased 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 purchasing an additional 8,500 shares during the period. Finally, Aristides Capital LLC increased its stake in Ceragon Networks by 15.5% in the first quarter. Aristides Capital LLC now owns 162,963 shares of the communications equipment provider’s stock valued at $352,000 after purchasing an additional 21,833 shares during the last quarter. 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.