Ceragon Networks Ltd. (NASDAQ:CRNT) Short Interest Up 9.8% in September

Ceragon Networks Ltd. (NASDAQ:CRNT) was the target of a large growth in short interest during the month of 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. Based on an average trading volume of 342,000 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.2% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

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

Ceragon Networks Trading Down 2.6 %

NASDAQ CRNT traded down $0.07 during trading hours on Tuesday, reaching $2.67. The company had a trading volume of 174,697 shares, compared to its average volume of 449,061. The stock has a market capitalization of $228.07 million, a P/E ratio of 53.20 and a beta of 1.35. The stock has a 50-day moving average of $2.79 and a 200 day moving average of $2.76. Ceragon Networks has a 1-year low of $1.56 and a 1-year high of $3.38.

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

Institutional Investors Weigh In On Ceragon Networks

A number of hedge funds have recently added to or reduced their stakes in CRNT. Acadian Asset Management LLC increased its position in shares of Ceragon Networks by 126.4% in the first quarter. Acadian Asset Management LLC now owns 1,555,000 shares of the communications equipment provider’s stock valued at $4,966,000 after buying an additional 868,138 shares in the last quarter. Inspire Investing LLC acquired a new position in shares of Ceragon Networks in the first quarter valued at approximately $884,000. Lazard Asset Management LLC boosted its holdings in shares of Ceragon Networks by 9,906.9% during the first quarter. Lazard Asset Management LLC now owns 94,765 shares of the communications equipment provider’s stock worth $303,000 after purchasing an additional 93,818 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in Ceragon Networks in the 2nd quarter worth about $26,000. Finally, Kennedy Capital Management LLC purchased a new stake in shares of Ceragon Networks during the 1st quarter valued at $316,000. 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.