Ceragon Networks Ltd. (NASDAQ:CRNT) Short Interest Update

Ceragon Networks Ltd. (NASDAQ:CRNT) was the recipient of a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 732,400 shares, an increase of 195.2% from the January 31st total of 248,100 shares. Based on an average daily trading volume, of 2,450,000 shares, the short-interest ratio is presently 0.3 days. Approximately 1.1% of the company’s stock are short sold.

Wall Street Analyst Weigh In

A number of research firms recently commented on CRNT. StockNews.com cut shares of Ceragon Networks from a “buy” rating to a “hold” rating in a research note on Thursday. Needham & Company LLC reiterated a “buy” rating and issued a $6.00 target price on shares of Ceragon Networks in a research note on Wednesday, February 12th. Finally, Litchfield Hills Research began coverage on shares of Ceragon Networks in a research note on Tuesday, December 3rd. They issued a “buy” rating and a $10.00 target price for the company. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $6.83.

Institutional Investors Weigh In On Ceragon Networks

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Walleye Capital LLC grew its holdings in shares of Ceragon Networks by 95.1% during the third quarter. Walleye Capital LLC now owns 283,933 shares of the communications equipment provider’s stock worth $778,000 after buying an additional 138,411 shares in the last quarter. Inspire Investing LLC purchased a new stake in shares of Ceragon Networks during the fourth quarter worth $903,000. JPMorgan Chase & Co. purchased a new stake in shares of Ceragon Networks during the third quarter worth $104,000. Perigon Wealth Management LLC purchased a new stake in shares of Ceragon Networks during the fourth quarter worth $90,000. Finally, State of New Jersey Common Pension Fund D purchased a new stake in shares of Ceragon Networks during the fourth quarter worth $182,000. Hedge funds and other institutional investors own 13.31% of the company’s stock.

Ceragon Networks Trading Down 0.4 %

NASDAQ CRNT traded down $0.01 on Friday, hitting $2.79. 1,361,959 shares of the company’s stock traded hands, compared to its average volume of 2,548,760. Ceragon Networks has a 1-year low of $2.33 and a 1-year high of $5.73. The firm’s 50-day moving average price is $4.38 and its two-hundred day moving average price is $3.52. The firm has a market capitalization of $238.32 million, a PE ratio of 10.33 and a beta of 1.59.

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.