Ceragon Networks Ltd. (NASDAQ:CRNT) Shares Sold by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp lessened its stake in Ceragon Networks Ltd. (NASDAQ:CRNT) by 39.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,865 shares of the communications equipment provider’s stock after selling 17,000 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Ceragon Networks were worth $121,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Hillsdale Investment Management Inc. increased its position in Ceragon Networks by 3.9% in the 4th quarter. Hillsdale Investment Management Inc. now owns 80,800 shares of the communications equipment provider’s stock valued at $377,000 after acquiring an additional 3,000 shares during the period. Algert Global LLC increased its position in Ceragon Networks by 32.2% during the 4th quarter. Algert Global LLC now owns 46,454 shares of the communications equipment provider’s stock worth $217,000 after purchasing an additional 11,310 shares during the period. Penn Capital Management Company LLC acquired a new position in Ceragon Networks during the 4th quarter worth approximately $54,000. Commonwealth Equity Services LLC acquired a new position in Ceragon Networks during the 4th quarter worth approximately $58,000. Finally, Sei Investments Co. increased its position in Ceragon Networks by 21.6% during the 4th quarter. Sei Investments Co. now owns 78,180 shares of the communications equipment provider’s stock worth $365,000 after purchasing an additional 13,909 shares during the period. Institutional investors and hedge funds own 13.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CRNT shares. Craig Hallum started coverage on Ceragon Networks in a research report on Thursday, March 13th. They set a “buy” rating and a $5.00 target price on the stock. Needham & Company LLC dropped their target price on Ceragon Networks from $6.00 to $4.50 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Finally, StockNews.com cut Ceragon Networks from a “buy” rating to a “hold” rating in a research report on Thursday, May 8th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $6.00.

Ceragon Networks Price Performance

Shares of NASDAQ:CRNT opened at $2.39 on Wednesday. The business’s 50 day simple moving average is $2.29 and its 200-day simple moving average is $3.37. The firm has a market capitalization of $212.54 million, a price-to-earnings ratio of 8.85 and a beta of 1.04. Ceragon Networks Ltd. has a 12 month low of $1.95 and a 12 month high of $5.73.

Ceragon Networks (NASDAQ:CRNT) last announced its quarterly earnings results on Wednesday, May 7th. The communications equipment provider reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02. Ceragon Networks had a return on equity of 21.32% and a net margin of 6.10%. On average, equities analysts anticipate that Ceragon Networks Ltd. will post 0.26 earnings per share for the current year.

Ceragon Networks Company Profile

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.