Traders Purchase High Volume of Ceragon Networks Call Options (NASDAQ:CRNT)

Ceragon Networks Ltd. (NASDAQ:CRNT) saw unusually large options trading on Tuesday. Stock investors purchased 6,231 call options on the company. This represents an increase of approximately 239% compared to the average daily volume of 1,836 call options.

Analysts Set New Price Targets

CRNT has been the subject of a number of research analyst reports. Needham & Company LLC restated a “buy” rating and issued a $6.00 target price on shares of Ceragon Networks in a research note on Wednesday. Litchfield Hills Research initiated coverage on Ceragon Networks in a research note on Tuesday, December 3rd. They issued a “buy” rating and a $10.00 target price for the company. Roth Mkm initiated coverage on Ceragon Networks in a research note on Monday, October 28th. They issued a “buy” rating and a $4.50 target price for the company. Finally, Roth Capital upgraded Ceragon Networks to a “strong-buy” rating in a research note on Monday, October 28th. Three equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $6.83.

Ceragon Networks Stock Performance

NASDAQ CRNT opened at $3.52 on Thursday. The stock has a 50-day simple moving average of $4.68 and a two-hundred day simple moving average of $3.49. The firm has a market capitalization of $300.68 million, a P/E ratio of 16.00 and a beta of 1.59. Ceragon Networks has a fifty-two week low of $2.33 and a fifty-two week high of $5.73.

Hedge Funds Weigh In On Ceragon Networks

A number of institutional investors have recently modified their holdings of CRNT. Cubist Systematic Strategies LLC acquired a new stake in shares of Ceragon Networks during the 2nd quarter valued at about $56,000. Commonwealth Equity Services LLC acquired a new stake in shares of Ceragon Networks during the 4th quarter valued at about $58,000. Bravias Capital Group LLC acquired a new stake in shares of Ceragon Networks during the 4th quarter valued at about $71,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Ceragon Networks during the 4th quarter valued at about $81,000. Finally, Perigon Wealth Management LLC acquired a new stake in shares of Ceragon Networks during the 4th quarter valued at about $90,000. Hedge funds and other 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.