Perritt Capital Management Inc. Sells 5,000 Shares of Ceragon Networks Ltd (NASDAQ:CRNT)
Perritt Capital Management Inc. lowered its stake in Ceragon Networks Ltd (NASDAQ:CRNT) by 0.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 579,500 shares of the communications equipment provider’s stock after selling 5,000 shares during the period. Perritt Capital Management Inc.’s holdings in Ceragon Networks were worth $1,698,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently bought and sold shares of the company. ARK Investment Management LLC raised its stake in Ceragon Networks by 12.3% during the 2nd quarter. ARK Investment Management LLC now owns 131,354 shares of the communications equipment provider’s stock valued at $385,000 after buying an additional 14,381 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Ceragon Networks by 32.0% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 103,040 shares of the communications equipment provider’s stock worth $370,000 after purchasing an additional 24,951 shares during the period. AJO LP boosted its stake in shares of Ceragon Networks by 2.0% during the 1st quarter. AJO LP now owns 693,898 shares of the communications equipment provider’s stock worth $2,491,000 after acquiring an additional 13,282 shares during the last quarter. Bluestein R H & Co. purchased a new position in Ceragon Networks during the second quarter valued at $70,000. Finally, Acadian Asset Management LLC lifted its position in shares of Ceragon Networks by 2.3% during the 1st quarter. Acadian Asset Management LLC now owns 3,191,940 shares of the communications equipment provider’s stock valued at $11,460,000 after buying an additional 71,937 shares in the last quarter. 17.90% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently weighed in on CRNT. Oppenheimer set a $4.00 price objective on Ceragon Networks and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Zacks Investment Research downgraded shares of Ceragon Networks from a “buy” rating to a “sell” rating in a report on Thursday, August 15th. Finally, ValuEngine raised shares of Ceragon Networks from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. Ceragon Networks has a consensus rating of “Hold” and a consensus price target of $3.83.
Ceragon Networks (NASDAQ:CRNT) last issued its earnings results on Monday, August 12th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.01). The business had revenue of $73.00 million for the quarter, compared to the consensus estimate of $72.62 million. Ceragon Networks had a return on equity of 8.33% and a net margin of 6.14%. On average, research analysts predict that Ceragon Networks Ltd will post 0.12 earnings per share for the current fiscal year.
About Ceragon Networks
Ceragon Networks Ltd. provides wireless backhaul solutions that enable cellular operators and other wireless service providers to deliver voice and data services worldwide. Its wireless backhaul solutions use microwave and millimeter wave technology to transfer telecommunication traffic between base stations, small sells, and the core of the service provider's network.
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