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

Ceragon Networks Ltd. (NASDAQ:CRNT) saw a significant 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. Based on an average trading volume of 2,290,000 shares, the short-interest ratio is presently 0.2 days. Currently, 0.6% of the company’s stock are short sold.

Institutional Investors Weigh In On Ceragon Networks

Several hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC grew its holdings in Ceragon Networks by 47.1% in the fourth quarter. Renaissance Technologies LLC now owns 1,333,295 shares of the communications equipment provider’s stock valued at $6,226,000 after purchasing an additional 426,760 shares during the period. Millennium Management LLC raised its position in Ceragon Networks by 123.9% during the fourth quarter. Millennium Management LLC now owns 962,898 shares of the communications equipment provider’s stock worth $4,497,000 after acquiring an additional 532,798 shares during the period. Marshall Wace LLP lifted its holdings in Ceragon Networks by 598.1% during the fourth quarter. Marshall Wace LLP now owns 703,091 shares of the communications equipment provider’s stock valued at $3,283,000 after purchasing an additional 602,383 shares in the last quarter. Lazard Asset Management LLC grew its position in shares of Ceragon Networks by 26.7% in the fourth quarter. Lazard Asset Management LLC now owns 570,288 shares of the communications equipment provider’s stock valued at $2,663,000 after purchasing an additional 120,106 shares during the period. Finally, Navellier & Associates Inc. acquired a new position in shares of Ceragon Networks during the 4th quarter worth about $1,804,000. 13.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CRNT shares. Needham & Company LLC reissued a “buy” rating and issued a $6.00 price objective on shares of Ceragon Networks in a research report on Wednesday, February 12th. Craig Hallum began coverage on shares of Ceragon Networks in a research report on Thursday. They issued a “buy” rating and a $5.00 price objective for the company. Litchfield Hills Research assumed coverage on shares of Ceragon Networks in a research report on Tuesday, December 3rd. They set a “buy” rating and a $10.00 target price on the stock. Finally, StockNews.com lowered shares of Ceragon Networks from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Ceragon Networks currently has an average rating of “Buy” and an average target price of $6.38.

Ceragon Networks Trading Up 5.4 %

Shares of NASDAQ CRNT traded up $0.14 during trading on Friday, reaching $2.73. 1,148,200 shares of the company traded hands, compared to its average volume of 991,099. Ceragon Networks has a 12-month low of $2.33 and a 12-month high of $5.73. The stock has a market cap of $233.19 million, a P/E ratio of 10.11 and a beta of 1.62. The firm’s fifty day simple moving average is $3.92 and its 200 day simple moving average is $3.50.

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.