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

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

Ceragon Networks Trading Down 6.6 %

Shares of NASDAQ CRNT opened at $3.52 on Thursday. The stock has a market capitalization of $300.68 million, a PE ratio of 16.00 and a beta of 1.59. The stock’s fifty day simple moving average is $4.68 and its two-hundred day simple moving average is $3.49. Ceragon Networks has a 12-month low of $2.33 and a 12-month high of $5.73.

Institutional Trading of Ceragon Networks

Several hedge funds and other institutional investors have recently bought and sold shares of CRNT. Cubist Systematic Strategies LLC acquired a new stake in shares of Ceragon Networks in the 2nd quarter worth $56,000. Commonwealth Equity Services LLC acquired a new stake in shares of Ceragon Networks in the 4th quarter worth $58,000. Bravias Capital Group LLC acquired a new stake in shares of Ceragon Networks in the 4th quarter worth $71,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Ceragon Networks in the 4th quarter worth $81,000. Finally, Perigon Wealth Management LLC acquired a new stake in shares of Ceragon Networks in the 4th quarter worth $90,000. Institutional investors own 13.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CRNT shares. Roth Capital raised Ceragon Networks to a “strong-buy” rating in a research note on Monday, October 28th. Needham & Company LLC reissued a “buy” rating and issued a $6.00 price objective on shares of Ceragon Networks in a research note on Wednesday. Litchfield Hills Research started coverage on Ceragon Networks in a research note on Tuesday, December 3rd. They issued a “buy” rating and a $10.00 price objective on the stock. Finally, Roth Mkm began coverage on Ceragon Networks in a research note on Monday, October 28th. They issued a “buy” rating and a $4.50 price objective on the stock. Three investment 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 currently has a consensus rating of “Buy” and a consensus target price of $6.83.

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.