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

Ceragon Networks Ltd. (NASDAQ:CRNT) was the target of a large decline in short interest in the month of May. As of May 29th, there was short interest totaling 98,112 shares, a decline of 38.5% from the May 14th total of 159,641 shares. Based on an average daily volume of 786,063 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.1% of the company’s stock are sold short.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets bought a new position in shares of Ceragon Networks during the 2nd quarter worth approximately $26,000. Jones Financial Companies Lllp lifted its holdings in Ceragon Networks by 283.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 11,500 shares of the communications equipment provider’s stock worth $27,000 after purchasing an additional 8,500 shares during the last quarter. Walleye Capital LLC acquired a new stake in Ceragon Networks during the 4th quarter worth approximately $27,000. Tamar Securities LLC lifted its holdings in Ceragon Networks by 67.3% during the 4th quarter. Tamar Securities LLC now owns 17,016 shares of the communications equipment provider’s stock worth $36,000 after purchasing an additional 6,848 shares during the last quarter. Finally, HRT Financial LP lifted its holdings in Ceragon Networks by 44.3% during the 4th quarter. HRT Financial LP now owns 19,660 shares of the communications equipment provider’s stock worth $41,000 after purchasing an additional 6,039 shares during the last quarter. 13.31% of the stock is currently owned by institutional investors.

Ceragon Networks Stock Performance

Shares of NASDAQ CRNT opened at $2.99 on Monday. Ceragon Networks has a 12 month low of $1.82 and a 12 month high of $3.29. The stock has a 50 day moving average of $2.62 and a 200-day moving average of $2.35. The company has a market capitalization of $271.76 million, a P/E ratio of -149.50 and a beta of 1.35.

Ceragon Networks (NASDAQ:CRNT) last issued its earnings results on Wednesday, April 15th. The communications equipment provider reported $0.01 EPS for the quarter. Ceragon Networks had a positive return on equity of 2.27% and a negative net margin of 0.73%.The company had revenue of $85.00 million during the quarter. Analysts predict that Ceragon Networks will post 0.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CRNT has been the subject of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $3.00 price objective on shares of Ceragon Networks in a research report on Wednesday, May 20th. Weiss Ratings upgraded Ceragon Networks from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, May 26th. Wall Street Zen upgraded Ceragon Networks from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 23rd. Craig Hallum reiterated a “buy” rating and issued a $4.00 price objective on shares of Ceragon Networks in a research report on Wednesday, May 20th. Finally, Roth Mkm reiterated a “buy” rating and issued a $4.50 price objective on shares of Ceragon Networks in a research report on Tuesday, May 19th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Ceragon Networks presently has a consensus rating of “Moderate Buy” and an average price target of $3.75.

Ceragon Networks Company Profile

Ceragon Networks Ltd. is a global provider of wireless backhaul solutions, specializing in high-capacity, low-latency connectivity for mobile operators and private networks. The company designs and manufactures a portfolio of microwave and millimeter-wave equipment that serves as a fiber alternative for carrying voice, data and video traffic between cell sites and core networks. Ceragon’s solutions are engineered to support the rigorous performance requirements of modern 4G and 5G deployments, with an emphasis on scalability, reliability and efficient spectrum utilization.

The company’s product lineup includes point-to-point and multi-point radio platforms, as well as software-driven network management tools that enable operators to plan, deploy and monitor end-to-end transport networks.