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

Ceragon Networks Ltd. (NASDAQ:CRNT) saw a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 422,300 shares, a growth of 49.8% from the November 30th total of 282,000 shares. Approximately 0.6% of the shares of the stock are sold short. Based on an average daily volume of 1,180,000 shares, the short-interest ratio is presently 0.4 days.

Wall Street Analysts Forecast Growth

CRNT has been the subject of several analyst reports. Roth Mkm initiated coverage on Ceragon Networks in a report on Monday, October 28th. They set a “buy” rating and a $4.50 target price for the company. Litchfield Hills Research assumed coverage on shares of Ceragon Networks in a report on Tuesday, December 3rd. They issued a “buy” rating and a $10.00 target price for the company. Roth Capital upgraded shares of Ceragon Networks to a “strong-buy” rating in a report on Monday, October 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $6.00 price objective (up previously from $4.50) on shares of Ceragon Networks in a research note on Wednesday, December 4th. Three analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $6.83.

Institutional Investors Weigh In On Ceragon Networks

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC increased its position in Ceragon Networks by 25.7% during the second quarter. Acadian Asset Management LLC now owns 1,955,161 shares of the communications equipment provider’s stock worth $4,878,000 after acquiring an additional 400,161 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Ceragon Networks by 35.4% in the second quarter. Renaissance Technologies LLC now owns 643,816 shares of the communications equipment provider’s stock valued at $1,610,000 after buying an additional 168,416 shares during the period. Walleye Capital LLC grew its position in 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. XTX Topco Ltd acquired a new position in Ceragon Networks in the 3rd quarter valued at approximately $152,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of Ceragon Networks in the 3rd quarter worth approximately $104,000. 13.31% of the stock is owned by institutional investors and hedge funds.

Ceragon Networks Price Performance

Shares of CRNT stock traded down $0.11 during trading on Monday, reaching $4.60. The company had a trading volume of 752,330 shares, compared to its average volume of 656,497. The firm’s 50 day simple moving average is $3.58 and its two-hundred day simple moving average is $2.99. Ceragon Networks has a one year low of $2.07 and a one year high of $5.00. The company has a market capitalization of $392.92 million, a PE ratio of 20.91 and a beta of 1.61.

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.