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

Ceragon Networks Ltd. (NASDAQ:CRNT) was the recipient of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 85,900 shares, a growth of 8.2% from the October 15th total of 79,400 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily volume of 322,200 shares, the days-to-cover ratio is currently 0.3 days.

Ceragon Networks Trading Up 15.1 %

Shares of NASDAQ CRNT traded up $0.41 on Monday, reaching $3.12. 1,858,580 shares of the company traded hands, compared to its average volume of 462,543. Ceragon Networks has a fifty-two week low of $1.75 and a fifty-two week high of $3.38. The company has a 50 day moving average of $2.61 and a 200 day moving average of $2.66. The stock has a market capitalization of $266.51 million, a PE ratio of 14.18 and a beta of 1.35.

Institutional Trading of Ceragon Networks

Institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC boosted its holdings in Ceragon Networks by 25.7% in the 2nd quarter. Acadian Asset Management LLC now owns 1,955,161 shares of the communications equipment provider’s stock worth $4,878,000 after acquiring an additional 400,161 shares during the period. Renaissance Technologies LLC boosted its holdings in Ceragon Networks by 35.4% in the 2nd quarter. Renaissance Technologies LLC now owns 643,816 shares of the communications equipment provider’s stock worth $1,610,000 after acquiring an additional 168,416 shares during the period. Walleye Capital LLC boosted its stake in shares of Ceragon Networks by 95.1% during the 3rd 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 during the last quarter. Perritt Capital Management Inc. boosted its stake in shares of Ceragon Networks by 6.7% during the 1st quarter. Perritt Capital Management Inc. now owns 217,600 shares of the communications equipment provider’s stock valued at $696,000 after buying an additional 13,600 shares during the last quarter. Finally, Kennedy Capital Management LLC acquired a new stake in shares of Ceragon Networks during the 1st quarter valued at approximately $316,000. Hedge funds and other institutional investors own 13.31% of the company’s stock.

Analyst Ratings Changes

CRNT has been the subject of several analyst reports. Roth Mkm initiated coverage on shares of Ceragon Networks in a research note on Monday, October 28th. They issued a “buy” rating and a $4.50 target price for the company. Roth Capital raised shares of Ceragon Networks to a “strong-buy” rating in a research note on Monday, October 28th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $5.25 target price on shares of Ceragon Networks in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Strong Buy” and a consensus price target of $4.88.

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.