Short Interest in Ceragon Networks Ltd. (NASDAQ:CRNT) Declines By 35.5%

Ceragon Networks Ltd. (NASDAQ:CRNT) was the target of a large decline in short interest in the month of June. As of June 15th, there was short interest totalling 278,400 shares, a decline of 35.5% from the May 31st total of 431,900 shares. Approximately 0.4% of the company’s shares are short sold. Based on an average daily volume of 407,700 shares, the short-interest ratio is currently 0.7 days.

Ceragon Networks Stock Up 3.3 %

Shares of Ceragon Networks stock opened at $2.50 on Monday. The business has a 50 day moving average of $2.66 and a 200 day moving average of $2.68. Ceragon Networks has a 52 week low of $1.56 and a 52 week high of $3.38. The company has a market cap of $213.55 million, a PE ratio of 50.01 and a beta of 1.39.

Ceragon Networks (NASDAQ:CRNT) last issued its quarterly earnings data on Tuesday, May 7th. The communications equipment provider reported $0.04 EPS for the quarter. Ceragon Networks had a net margin of 1.32% and a return on equity of 10.76%. The business had revenue of $88.50 million during the quarter. On average, research analysts anticipate that Ceragon Networks will post 0.18 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently commented on CRNT shares. StockNews.com raised shares of Ceragon Networks from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $5.25 price objective on shares of Ceragon Networks in a research note on Tuesday, May 7th.

Hedge Funds Weigh In On Ceragon Networks

A number of institutional investors have recently added to or reduced their stakes in the company. Eagle Wealth Strategies LLC purchased a new stake in shares of Ceragon Networks in the 1st quarter worth about $31,000. Worth Venture Partners LLC increased its stake in Ceragon Networks by 13.3% during the 3rd quarter. Worth Venture Partners LLC now owns 74,097 shares of the communications equipment provider’s stock valued at $152,000 after purchasing an additional 8,700 shares in the last quarter. Lazard Asset Management LLC raised its holdings in Ceragon Networks by 9,906.9% in the 1st quarter. Lazard Asset Management LLC now owns 94,765 shares of the communications equipment provider’s stock worth $303,000 after acquiring an additional 93,818 shares during the last quarter. Kennedy Capital Management LLC bought a new stake in shares of Ceragon Networks in the 1st quarter worth $316,000. Finally, Perritt Capital Management Inc. lifted its holdings in shares of Ceragon Networks by 14.9% during the third quarter. Perritt Capital Management Inc. now owns 204,000 shares of the communications equipment provider’s stock valued at $418,000 after purchasing an additional 26,500 shares in the last quarter. Institutional investors own 13.31% of the company’s stock.

Ceragon Networks Company Profile

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.