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

Ceragon Networks Ltd. (NASDAQ:CRNT) was the target of a significant increase in short interest in September. As of September 15th, there was short interest totalling 140,500 shares, an increase of 9.8% from the August 31st total of 128,000 shares. Based on an average daily volume of 342,000 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.2% of the company’s stock are short sold.

Hedge Funds Weigh In On Ceragon Networks

A number of institutional investors and hedge funds have recently modified their holdings of the company. WINTON GROUP Ltd bought a new position in Ceragon Networks in the 2nd quarter worth $26,000. Eagle Wealth Strategies LLC purchased a new stake in shares of Ceragon Networks in the first quarter worth $31,000. Cubist Systematic Strategies LLC bought a new stake in shares of Ceragon Networks during the 2nd quarter valued at $56,000. Sei Investments Co. increased its stake in Ceragon Networks by 45.7% in the 2nd quarter. Sei Investments Co. now owns 27,423 shares of the communications equipment provider’s stock worth $69,000 after buying an additional 8,607 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its position in shares of Ceragon Networks by 9,906.9% in the first quarter. Lazard Asset Management LLC now owns 94,765 shares of the communications equipment provider’s stock valued at $303,000 after acquiring an additional 93,818 shares in the last quarter. 13.31% of the stock is currently owned by hedge funds and other institutional investors.

Ceragon Networks Price Performance

NASDAQ CRNT traded down $0.12 during mid-day trading on Tuesday, reaching $2.62. The stock had a trading volume of 263,098 shares, compared to its average volume of 449,529. The stock has a market cap of $223.80 million, a PE ratio of 53.20 and a beta of 1.35. The company has a fifty day moving average price of $2.79 and a 200 day moving average price of $2.76. Ceragon Networks has a 1 year low of $1.56 and a 1 year high of $3.38.

Ceragon Networks (NASDAQ:CRNT) last announced its quarterly earnings results on Wednesday, August 7th. The communications equipment provider reported $0.10 earnings per share (EPS) for the quarter. Ceragon Networks had a return on equity of 13.94% and a net margin of 2.87%. The firm had revenue of $96.09 million for the quarter. As a group, equities research analysts expect that Ceragon Networks will post 0.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reissued a “buy” rating and issued a $5.25 target price on shares of Ceragon Networks in a report on Thursday, August 8th.

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.