Ceragon Networks Ltd. (NASDAQ:CRNT) Short Interest Down 44.9% in February

Ceragon Networks Ltd. (NASDAQ:CRNT) was the target of a large drop in short interest in February. As of February 28th, there was short interest totalling 403,200 shares, a drop of 44.9% from the February 13th total of 732,400 shares. Currently, 0.6% of the company’s stock are short sold. Based on an average trading volume of 2,290,000 shares, the days-to-cover ratio is presently 0.2 days.

Ceragon Networks Stock Performance

Shares of Ceragon Networks stock traded up $0.14 during mid-day trading on Friday, hitting $2.73. 1,148,200 shares of the stock were exchanged, compared to its average volume of 991,099. The company has a 50-day simple moving average of $3.92 and a 200 day simple moving average of $3.50. Ceragon Networks has a 12 month low of $2.33 and a 12 month high of $5.73. The company has a market capitalization of $233.19 million, a P/E ratio of 10.11 and a beta of 1.62.

Wall Street Analysts Forecast Growth

CRNT has been the topic of several recent research reports. Litchfield Hills Research initiated coverage on shares of Ceragon Networks in a research report on Tuesday, December 3rd. They issued a “buy” rating and a $10.00 price target on the stock. StockNews.com cut shares of Ceragon Networks from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Craig Hallum started coverage on shares of Ceragon Networks in a research report on Thursday. They set a “buy” rating and a $5.00 target price on the stock. Finally, Needham & Company LLC reissued a “buy” rating and set a $6.00 target price on shares of Ceragon Networks in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Ceragon Networks has an average rating of “Buy” and an average price target of $6.38.

Institutional Investors Weigh In On Ceragon Networks

Large investors have recently modified their holdings of the stock. Penn Capital Management Company LLC purchased a new stake in shares of Ceragon Networks during the 4th quarter worth approximately $54,000. Commonwealth Equity Services LLC purchased a new stake in shares of Ceragon Networks during the 4th quarter worth approximately $58,000. Bravias Capital Group LLC purchased a new stake in shares of Ceragon Networks during the 4th quarter worth approximately $71,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Ceragon Networks during the 4th quarter worth approximately $81,000. Finally, Perigon Wealth Management LLC purchased a new stake in shares of Ceragon Networks during the 4th quarter worth approximately $90,000. Hedge funds and other 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.