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

Ceragon Networks Ltd. (NASDAQ:CRNT - Get Free Report) was the target of some unusual options trading on Tuesday. Traders acquired 6,231 call options on the stock. This is an increase of 239% compared to the average volume of 1,836 call options.

Hedge Funds Weigh In On Ceragon Networks

A number of hedge funds have recently added to or reduced their stakes in CRNT. Marshall Wace LLP raised its holdings in Ceragon Networks by 598.1% in the 4th quarter. Marshall Wace LLP now owns 703,091 shares of the communications equipment provider's stock worth $3,283,000 after acquiring an additional 602,383 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Ceragon Networks by 47.1% in the 4th quarter. Renaissance Technologies LLC now owns 1,333,295 shares of the communications equipment provider's stock worth $6,226,000 after acquiring an additional 426,760 shares during the last quarter. Navellier & Associates Inc. purchased a new position in Ceragon Networks in the 4th quarter worth approximately $1,804,000. Inspire Investing LLC purchased a new position in Ceragon Networks in the 4th quarter worth approximately $903,000. Finally, JPMorgan Chase & Co. raised its stake in Ceragon Networks by 481.7% during the 4th quarter. JPMorgan Chase & Co. now owns 221,539 shares of the communications equipment provider's stock valued at $1,035,000 after buying an additional 183,452 shares during the last quarter. 13.31% of the stock is currently owned by hedge funds and other institutional investors.

Ceragon Networks Price Performance

NASDAQ CRNT traded down $0.07 during mid-day trading on Friday, reaching $3.48. The stock had a trading volume of 1,771,190 shares, compared to its average volume of 2,630,079. Ceragon Networks has a 1 year low of $2.33 and a 1 year high of $5.73. The stock has a market cap of $296.83 million, a PE ratio of 15.80 and a beta of 1.59. The company has a fifty day moving average price of $4.67 and a 200 day moving average price of $3.49.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. StockNews.com lowered shares of Ceragon Networks from a "strong-buy" rating to a "buy" rating in a report on Thursday. Roth Mkm assumed coverage on shares of Ceragon Networks in a report on Monday, October 28th. They set a "buy" rating and a $4.50 target price for the company. Needham & Company LLC reiterated a "buy" rating and set a $6.00 target price on shares of Ceragon Networks in a report on Wednesday. Litchfield Hills Research assumed coverage on shares of Ceragon Networks in a report on Tuesday, December 3rd. They set a "buy" rating and a $10.00 target price for the company. Finally, Roth Capital upgraded shares of Ceragon Networks to a "strong-buy" rating in a report on Monday, October 28th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target 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.