Ceragon Networks Ltd. (NASDAQ:CRNT) Short Interest Down 35.4% in December

Ceragon Networks Ltd. (NASDAQ:CRNT) was the recipient of a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 272,600 shares, a decline of 35.4% from the December 15th total of 422,300 shares. Based on an average trading volume of 1,560,000 shares, the short-interest ratio is presently 0.2 days. Currently, 0.4% of the shares of the stock are sold short.

Ceragon Networks Trading Up 6.8 %

CRNT stock opened at $4.73 on Wednesday. The firm has a 50-day moving average of $4.15 and a two-hundred day moving average of $3.20. The firm has a market capitalization of $404.03 million, a PE ratio of 21.50 and a beta of 1.60. Ceragon Networks has a one year low of $2.33 and a one year high of $5.73.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CRNT shares. Litchfield Hills Research assumed coverage on shares of Ceragon Networks in a report on Tuesday, December 3rd. They issued a “buy” rating and a $10.00 price target for the company. Needham & Company LLC reissued a “buy” rating and set a $6.00 target price (up from $4.50) on shares of Ceragon Networks in a research note on Wednesday, December 4th. Roth Mkm began coverage on shares of Ceragon Networks in a research report on Monday, October 28th. They issued a “buy” rating and a $4.50 price target on the stock. Finally, Roth Capital upgraded Ceragon Networks to a “strong-buy” rating in a research report on Monday, October 28th. Three analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $6.83.

Institutional Investors Weigh In On Ceragon Networks

Several hedge funds have recently made changes to their positions in CRNT. Renaissance Technologies LLC raised its stake in Ceragon Networks by 35.4% during the 2nd quarter. Renaissance Technologies LLC now owns 643,816 shares of the communications equipment provider’s stock valued at $1,610,000 after purchasing an additional 168,416 shares during the period. Walleye Capital LLC grew its holdings in shares of Ceragon Networks by 95.1% during the third quarter. Walleye Capital LLC now owns 283,933 shares of the communications equipment provider’s stock valued at $778,000 after buying an additional 138,411 shares in the last quarter. XTX Topco Ltd acquired a new position in Ceragon Networks during the third quarter valued at $152,000. JPMorgan Chase & Co. purchased a new stake in Ceragon Networks in the 3rd quarter worth about $104,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Ceragon Networks during the 2nd quarter worth about $56,000. 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.