Efrat Makov Sells 5,000 Shares of Ceragon Networks (NASDAQ:CRNT) Stock

Ceragon Networks Ltd. (NASDAQ:CRNT) Director Efrat Makov sold 5,000 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $2.99, for a total value of $14,950.00. Following the completion of the sale, the director owned 58,950 shares of the company’s stock, valued at $176,260.50. This represents a 7.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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 value of $17,667.55.

Ceragon Networks Trading Down 4.7%

NASDAQ CRNT opened at $2.86 on Wednesday. The stock has a 50-day simple moving average of $2.65 and a 200 day simple moving average of $2.36. The company has a market capitalization of $259.95 million, a PE ratio of -143.00 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.

Ceragon Networks (NASDAQ:CRNT) last released its quarterly earnings data on Wednesday, April 15th. The communications equipment provider reported $0.01 EPS for the quarter. Ceragon Networks had a positive return on equity of 2.27% and a negative net margin of 0.73%.The business had revenue of $85.00 million during the quarter. As a group, sell-side analysts predict that Ceragon Networks Ltd. will post 0.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets boosted its position in shares of 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 buying an additional 5,211 shares during the period. HRT Financial LP boosted 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 valued at $41,000 after purchasing an additional 6,039 shares during the last quarter. Aristides Capital LLC boosted 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 valued at $296,000 after purchasing an additional 6,130 shares during the last quarter. Tamar Securities LLC boosted 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 valued at $36,000 after purchasing an additional 6,848 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted 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 valued at $27,000 after purchasing an additional 8,500 shares during the last quarter. 13.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CRNT has been the subject of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $3.00 target price on shares of Ceragon Networks in a research note on Wednesday, May 20th. Zacks Research raised Ceragon Networks from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. Lake Street Capital initiated coverage on Ceragon Networks in a research note on Tuesday, March 31st. They issued a “buy” rating and a $3.50 target price for the company. Craig Hallum reissued a “buy” rating and issued a $4.00 target price on shares of Ceragon Networks in a research note on Wednesday, May 20th. Finally, Roth Mkm reissued a “buy” rating and issued a $4.50 target price on shares of Ceragon Networks in a research note on Tuesday, May 19th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $3.75.

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.