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

Ceragon Networks Ltd. (NASDAQ:CRNT) was the recipient of a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 732,400 shares, a growth of 195.2% from the January 31st total of 248,100 shares. Approximately 1.1% of the company’s shares are sold short. Based on an average daily volume of 2,450,000 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Trading of Ceragon Networks

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CRNT shares. Needham & Company LLC reissued a “buy” rating and issued a $6.00 price objective on shares of Ceragon Networks in a report on Wednesday, February 12th. StockNews.com lowered shares of Ceragon Networks from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Litchfield Hills Research initiated coverage on shares of Ceragon Networks in a report on Tuesday, December 3rd. They issued a “buy” rating and a $10.00 price objective for the company. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $6.83.

Ceragon Networks Stock Performance

Shares of CRNT traded down $0.01 during mid-day trading on Friday, hitting $2.79. 1,361,959 shares of the company’s stock were exchanged, compared to its average volume of 2,548,760. The company has a market cap of $238.32 million, a price-to-earnings ratio of 10.33 and a beta of 1.59. Ceragon Networks has a fifty-two week low of $2.33 and a fifty-two week high of $5.73. The stock’s 50-day moving average is $4.38 and its 200-day moving average is $3.52.

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.