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

Ceragon Networks Ltd. (NASDAQ:CRNTGet Free Report) Director Efrat Makov sold 6,667 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $2.65, for a total value of $17,667.55. Following the completion of the sale, the director directly owned 44,200 shares in the company, valued at approximately $117,130. This represents a 13.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ceragon Networks Stock Down 0.7%

Shares of CRNT opened at $2.77 on Thursday. The business’s 50 day moving average price is $2.44 and its 200-day moving average price is $2.28. Ceragon Networks Ltd. has a 52 week low of $1.82 and a 52 week high of $2.87. The stock has a market cap of $251.77 million, a P/E ratio of -138.50 and a beta of 1.32.

Ceragon Networks (NASDAQ:CRNTGet Free Report) last released its quarterly earnings data on Wednesday, April 15th. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter. The business had revenue of $85.00 million for the quarter. Ceragon Networks had a positive return on equity of 2.27% and a negative net margin of 0.73%. On average, equities analysts anticipate that Ceragon Networks Ltd. will post 0.15 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CRNT. Wall Street Zen raised Ceragon Networks from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 23rd. Zacks Research raised Ceragon Networks from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Craig Hallum reaffirmed a “buy” rating and issued a $4.00 price objective on shares of Ceragon Networks in a research report on Wednesday, May 20th. Roth Mkm reaffirmed a “buy” rating and issued a $4.50 price objective on shares of Ceragon Networks in a research report on Tuesday, May 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $3.00 price objective on shares of Ceragon Networks in a research report on Wednesday, May 20th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $3.75.

View Our Latest Stock Analysis on Ceragon Networks

Institutional Investors Weigh In On Ceragon Networks

A number of hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its stake in Ceragon Networks by 13.7% during the 1st quarter. Renaissance Technologies LLC now owns 214,500 shares of the communications equipment provider’s stock valued at $463,000 after buying an additional 25,800 shares during the last quarter. Aristides Capital LLC raised its stake in Ceragon Networks by 15.5% during the 1st quarter. Aristides Capital LLC now owns 162,963 shares of the communications equipment provider’s stock valued at $352,000 after buying an additional 21,833 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Ceragon Networks during the 1st quarter valued at $911,000. First Wilshire Securities Management Inc. raised its stake in Ceragon Networks by 18.0% during the 1st quarter. First Wilshire Securities Management Inc. now owns 4,854,150 shares of the communications equipment provider’s stock valued at $10,485,000 after buying an additional 740,358 shares during the last quarter. Finally, R Squared Ltd raised its stake in Ceragon Networks by 71.3% during the 1st quarter. R Squared Ltd now owns 55,838 shares of the communications equipment provider’s stock valued at $121,000 after buying an additional 23,234 shares during the last quarter. 13.31% of the stock is currently owned by hedge funds and other institutional investors.

Ceragon Networks Company Profile

(Get Free Report)

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.

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