Ceragon Networks Sees Unusually Large Options Volume (NASDAQ:CRNT)

Ceragon Networks Ltd. (NASDAQ:CRNT) was the recipient of unusually large options trading activity on Tuesday. Investors bought 6,231 call options on the stock. This represents an increase of approximately 239% compared to the average volume of 1,836 call options.

Ceragon Networks Stock Down 15.7 %

CRNT traded down $0.76 during trading on Tuesday, reaching $4.05. 4,005,106 shares of the company’s stock were exchanged, compared to its average volume of 2,355,891. The company has a market capitalization of $345.52 million, a P/E ratio of 18.42 and a beta of 1.59. The business has a 50 day moving average price of $4.71 and a 200 day moving average price of $3.49. Ceragon Networks has a fifty-two week low of $2.33 and a fifty-two week high of $5.73.

Analyst Ratings Changes

Several research analysts have commented on CRNT shares. Litchfield Hills Research began coverage on Ceragon Networks in a research report on Tuesday, December 3rd. They issued a “buy” rating and a $10.00 price target on the stock. Roth Capital raised shares of Ceragon Networks to a “strong-buy” rating in a research report on Monday, October 28th. Needham & Company LLC reissued a “buy” rating and issued a $6.00 price target on shares of Ceragon Networks in a report on Thursday, January 16th. Finally, Roth Mkm started coverage on shares of Ceragon Networks in a report on Monday, October 28th. They set a “buy” rating and a $4.50 price objective on the stock. Three analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Ceragon Networks has a consensus rating of “Buy” and a consensus price target of $6.83.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC acquired a new position in shares of Ceragon Networks in the 2nd quarter worth approximately $56,000. Commonwealth Equity Services LLC bought a new stake in Ceragon Networks in the fourth quarter valued at $58,000. Bravias Capital Group LLC acquired a new position in Ceragon Networks during the fourth quarter worth $71,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Ceragon Networks during the fourth quarter valued at $81,000. Finally, Perigon Wealth Management LLC acquired a new stake in shares of Ceragon Networks in the 4th quarter valued at $90,000. Institutional investors own 13.31% of the company’s stock.

About Ceragon Networks

Ceragon Networks Ltd., together with its subsidiaries, provides wireless transport solutions for cellular operators and other wireless service providers in North America, Europe, Africa, the Asia Pacific, the Middle East, India, and Latin America. The company's solutions use microwave and millimeter wave radio technology to transfer telecommunication traffic between base stations, small/distributed cells, and the service provider's network.