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

Ceragon Networks Ltd. (NASDAQ:CRNT) was the recipient of a large growth in short interest in March. As of March 15th, there was short interest totalling 560,800 shares, a growth of 39.1% from the February 28th total of 403,200 shares. Currently, 0.9% of the shares of the stock are short sold. Based on an average daily volume of 2,070,000 shares, the short-interest ratio is currently 0.3 days.

Ceragon Networks Stock Performance

NASDAQ:CRNT traded down $0.06 during mid-day trading on Monday, reaching $2.34. The stock had a trading volume of 512,016 shares, compared to its average volume of 1,002,496. Ceragon Networks has a one year low of $2.30 and a one year high of $5.73. The firm has a 50 day moving average price of $3.45 and a two-hundred day moving average price of $3.48. The stock has a market capitalization of $207.44 million, a P/E ratio of 8.65 and a beta of 1.62.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Craig Hallum assumed coverage on Ceragon Networks in a research report on Thursday, March 13th. They issued a “buy” rating and a $5.00 price objective on the stock. Litchfield Hills Research started coverage on Ceragon Networks in a 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 Thursday, March 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $6.00 target price on shares of Ceragon Networks in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Ceragon Networks has an average rating of “Buy” and a consensus target price of $6.38.

Institutional Investors Weigh In On Ceragon Networks

A number of institutional investors have recently made changes to their positions in the business. Penn Capital Management Company LLC bought a new stake in Ceragon Networks in the fourth quarter worth $54,000. Commonwealth Equity Services LLC purchased a new position in shares of Ceragon Networks in the fourth quarter worth about $58,000. Bravias Capital Group LLC bought a new stake in shares of Ceragon Networks in the 4th quarter valued at about $71,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Ceragon Networks during the 4th quarter valued at about $81,000. Finally, Perigon Wealth Management LLC purchased a new stake in Ceragon Networks during the 4th quarter valued at about $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.