Ceragon Networks Ltd. (NASDAQ:CRNT – Get Free Report) Director Efrat Makov sold 5,000 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $2.99, for a total transaction of $14,950.00. Following the completion of the sale, the director directly owned 58,950 shares in the company, valued at $176,260.50. This trade represents a 7.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 Price Performance
CRNT stock opened at $2.71 on Thursday. The firm’s fifty day simple moving average is $2.66 and its 200-day simple moving average is $2.36. The company has a market capitalization of $246.31 million, a P/E ratio of -135.50 and a beta of 1.35. Ceragon Networks Ltd. has a 12 month low of $1.82 and a 12 month high of $3.29.
Wall Street Analyst Weigh In
CRNT has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Ceragon Networks from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 23rd. Craig Hallum reissued a “buy” rating and set a $4.00 price target on shares of Ceragon Networks in a report on Wednesday, May 20th. Lake Street Capital initiated coverage on shares of Ceragon Networks in a report on Tuesday, March 31st. They set a “buy” rating and a $3.50 price target on the stock. Weiss Ratings raised shares of Ceragon Networks from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, May 26th. Finally, Roth Mkm reissued a “buy” rating and set a $4.50 price target on shares of Ceragon Networks in a report 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. According to data from MarketBeat.com, Ceragon Networks presently has an average rating of “Moderate Buy” and an average target price of $3.75.
Check Out Our Latest Analysis on Ceragon Networks
Hedge Funds Weigh In On Ceragon Networks
A number of large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its position in Ceragon Networks by 49.1% during the third quarter. BNP Paribas Financial Markets now owns 15,817 shares of the communications equipment provider’s stock worth $37,000 after acquiring an additional 5,211 shares during the period. HRT Financial LP raised its position in Ceragon Networks by 44.3% during the fourth quarter. HRT Financial LP now owns 19,660 shares of the communications equipment provider’s stock worth $41,000 after acquiring an additional 6,039 shares during the period. Aristides Capital LLC raised its position in Ceragon Networks by 4.5% during the fourth quarter. Aristides Capital LLC now owns 141,130 shares of the communications equipment provider’s stock worth $296,000 after acquiring an additional 6,130 shares during the period. Tamar Securities LLC raised its position in Ceragon Networks by 67.3% during the fourth quarter. Tamar Securities LLC now owns 17,016 shares of the communications equipment provider’s stock worth $36,000 after acquiring an additional 6,848 shares during the period. Finally, Jones Financial Companies Lllp raised its position 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 acquiring an additional 8,500 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.
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