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

Ceragon Networks Ltd. (NASDAQ:CRNT) was the recipient of a significant 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 days-to-cover ratio is presently 0.3 days. Approximately 1.1% of the shares of the stock are short sold.

Ceragon Networks Stock Performance

NASDAQ:CRNT traded down $0.06 during trading hours on Friday, hitting $2.75. 785,874 shares of the company’s stock traded hands, compared to its average volume of 2,532,318. The stock’s fifty day moving average price is $4.38 and its two-hundred day moving average price is $3.52. The firm has a market cap of $234.47 million, a P/E ratio of 10.18 and a beta of 1.59. Ceragon Networks has a twelve month low of $2.33 and a twelve month high of $5.73.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $6.00 price objective on shares of Ceragon Networks in a research note on Wednesday, February 12th. StockNews.com downgraded Ceragon Networks from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Litchfield Hills Research assumed coverage on shares of Ceragon Networks in a research report on Tuesday, December 3rd. They issued a “buy” rating and a $10.00 target price on the stock. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $6.83.

Hedge Funds Weigh In On Ceragon Networks

A number of large investors have recently made changes to their positions in the business. Penn Capital Management Company LLC purchased a new position in Ceragon Networks during the fourth quarter valued at approximately $54,000. Commonwealth Equity Services LLC acquired a new position in shares of Ceragon Networks in the fourth quarter worth $58,000. Bravias Capital Group LLC purchased a new stake in shares of Ceragon Networks during the fourth quarter worth $71,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Ceragon Networks during the fourth quarter valued at $81,000. Finally, Perigon Wealth Management LLC purchased a new position in Ceragon Networks in the fourth quarter valued at about $90,000. Institutional investors and hedge funds own 13.31% of the company’s stock.

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.