Ibex Investors LLC trimmed its stake in Ceragon Networks Ltd (NASDAQ:CRNT) by 54.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,150,000 shares of the communications equipment provider’s stock after selling 1,350,000 shares during the period. Ceragon Networks accounts for 0.4% of Ibex Investors LLC’s portfolio, making the stock its 14th largest position. Ibex Investors LLC’s holdings in Ceragon Networks were worth $4,129,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CRNT. Harvest Management LLC grew its stake in Ceragon Networks by 5.8% during the 4th quarter. Harvest Management LLC now owns 58,200 shares of the communications equipment provider’s stock worth $220,000 after buying an additional 3,200 shares during the last quarter. Seelaus Asset Management LLC purchased a new position in Ceragon Networks during the 1st quarter worth $36,000. GSA Capital Partners LLP grew its stake in Ceragon Networks by 12.4% during the 4th quarter. GSA Capital Partners LLP now owns 134,911 shares of the communications equipment provider’s stock worth $510,000 after buying an additional 14,900 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Ceragon Networks during the 1st quarter worth $54,000. Finally, BlackRock Inc. grew its stake in Ceragon Networks by 21.1% during the 3rd quarter. BlackRock Inc. now owns 96,984 shares of the communications equipment provider’s stock worth $327,000 after buying an additional 16,925 shares during the last quarter. 24.32% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently weighed in on the company. TheStreet downgraded Ceragon Networks from a “b” rating to a “c+” rating in a research note on Friday, May 10th. Zacks Investment Research downgraded Ceragon Networks from a “hold” rating to a “sell” rating in a research note on Friday, May 10th. Finally, BidaskClub upgraded Ceragon Networks from a “sell” rating to a “hold” rating in a research note on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $4.66.
NASDAQ CRNT traded down $0.03 during trading hours on Wednesday, reaching $3.04. The company’s stock had a trading volume of 4,562 shares, compared to its average volume of 741,445. The stock has a market capitalization of $243.63 million, a price-to-earnings ratio of 15.25, a PEG ratio of 1.06 and a beta of 1.05. Ceragon Networks Ltd has a 1-year low of $2.67 and a 1-year high of $5.04.
Ceragon Networks (NASDAQ:CRNT) last released its quarterly earnings results on Monday, May 6th. The communications equipment provider reported $0.03 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.03. The company had revenue of $69.16 million during the quarter, compared to analysts’ expectations of $73.74 million. Ceragon Networks had a return on equity of 9.63% and a net margin of 6.61%. As a group, equities analysts anticipate that Ceragon Networks Ltd will post 0.19 EPS for the current fiscal year.
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Ceragon Networks Profile
Ceragon Networks Ltd. provides wireless backhaul solutions that enable cellular operators and other wireless service providers to deliver voice and data services worldwide. Its wireless backhaul solutions use microwave and millimeter wave technology to transfer telecommunication traffic between base stations, small sells, and the core of the service provider's network.
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