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

Ceragon Networks Ltd. (NASDAQ:CRNT) was the target of a large growth in short interest in September. As of September 15th, there was short interest totalling 140,500 shares, a growth of 9.8% from the August 31st total of 128,000 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average trading volume of 342,000 shares, the short-interest ratio is currently 0.4 days.

Hedge Funds Weigh In On Ceragon Networks

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC acquired a new position in shares of Ceragon Networks during the second quarter worth $56,000. Sei Investments Co. increased its holdings in Ceragon Networks by 45.7% in the 2nd quarter. Sei Investments Co. now owns 27,423 shares of the communications equipment provider’s stock worth $69,000 after purchasing an additional 8,607 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Ceragon Networks by 35.4% in the 2nd quarter. Renaissance Technologies LLC now owns 643,816 shares of the communications equipment provider’s stock worth $1,610,000 after purchasing an additional 168,416 shares in the last quarter. WINTON GROUP Ltd bought a new position in Ceragon Networks in the second quarter valued at about $26,000. Finally, Acadian Asset Management LLC boosted its stake in shares of 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 valued at $4,878,000 after purchasing an additional 400,161 shares in the last quarter. Institutional investors own 13.31% of the company’s stock.

Ceragon Networks Price Performance

Shares of CRNT stock traded down $0.08 on Tuesday, hitting $2.66. 141,761 shares of the company’s stock were exchanged, compared to its average volume of 448,887. The company has a 50 day moving average of $2.79 and a 200 day moving average of $2.76. The stock has a market cap of $227.21 million, a P/E ratio of 53.20 and a beta of 1.35. Ceragon Networks has a 12 month low of $1.56 and a 12 month high of $3.38.

Ceragon Networks (NASDAQ:CRNT) last posted its earnings results on Wednesday, August 7th. The communications equipment provider reported $0.10 EPS for the quarter. Ceragon Networks had a net margin of 2.87% and a return on equity of 13.94%. The firm had revenue of $96.09 million during the quarter. Sell-side analysts predict that Ceragon Networks will post 0.24 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Needham & Company LLC reissued a “buy” rating and issued a $5.25 price objective on shares of Ceragon Networks in a research note on Thursday, August 8th.

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.