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

Ceragon Networks Ltd. (NASDAQ:CRNT - Get Free Report) was the recipient of some unusual options trading activity on Wednesday. Stock investors acquired 11,223 call options on the company. This represents an increase of approximately 422% compared to the average volume of 2,149 call options.

Ceragon Networks Stock Performance

Shares of CRNT traded up $0.03 during mid-day trading on Monday, reaching $2.13. 1,132,655 shares of the company were exchanged, compared to its average volume of 1,027,360. The business has a 50 day simple moving average of $3.20 and a two-hundred day simple moving average of $3.47. The stock has a market capitalization of $188.96 million, a PE ratio of 7.94 and a beta of 1.60. Ceragon Networks has a 52 week low of $1.96 and a 52 week high of $5.73.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CRNT. StockNews.com lowered Ceragon Networks from a "buy" rating to a "hold" rating in a research report on Thursday, March 20th. Craig Hallum assumed coverage on Ceragon Networks in a report on Thursday, March 13th. They set a "buy" rating and a $5.00 price target on the stock. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $6.00 price objective on shares of Ceragon Networks in a report on Wednesday, February 12th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Ceragon Networks has a consensus rating of "Buy" and an average price target of $6.38.

Institutional Trading of Ceragon Networks

A number of institutional investors have recently bought and sold shares of CRNT. Penn Capital Management Company LLC bought a new stake in shares of Ceragon Networks during the 4th quarter valued at about $54,000. Commonwealth Equity Services LLC acquired a new position in Ceragon Networks in the fourth quarter valued at approximately $58,000. Bravias Capital Group LLC bought a new position in shares of Ceragon Networks during the 4th quarter worth approximately $71,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Ceragon Networks during the 4th quarter worth approximately $81,000. Finally, Perigon Wealth Management LLC bought 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.

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.