Short Interest in Ceragon Networks Ltd. (NASDAQ:CRNT) Grows By 36.6%

Ceragon Networks Ltd. (NASDAQ:CRNTGet Free Report) saw a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 566,500 shares, an increase of 36.6% from the February 29th total of 414,600 shares. Based on an average daily volume of 614,900 shares, the days-to-cover ratio is currently 0.9 days. Currently, 0.8% of the shares of the stock are sold short.

Institutional Trading of Ceragon Networks

Hedge funds and other institutional investors have recently modified their holdings of the business. Jane Street Group LLC acquired a new stake in shares of Ceragon Networks in the first quarter worth $25,000. Verition Fund Management LLC acquired a new stake in shares of Ceragon Networks in the fourth quarter worth $25,000. Susquehanna International Group LLP acquired a new stake in shares of Ceragon Networks in the first quarter worth $25,000. Tower Research Capital LLC TRC boosted its position in shares of Ceragon Networks by 8,127.0% in the third quarter. Tower Research Capital LLC TRC now owns 16,454 shares of the communications equipment provider’s stock worth $30,000 after buying an additional 16,254 shares during the period. Finally, ExodusPoint Capital Management LP acquired a new stake in Ceragon Networks during the fourth quarter valued at $37,000. Institutional investors and hedge funds own 13.31% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $5.25 price objective on shares of Ceragon Networks in a research note on Wednesday, February 21st. lowered Ceragon Networks from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 2nd.

View Our Latest Analysis on CRNT

Ceragon Networks Price Performance

Shares of CRNT traded down $0.02 during trading hours on Friday, hitting $3.20. 362,064 shares of the company were exchanged, compared to its average volume of 632,271. The company has a market capitalization of $273.34 million, a PE ratio of 45.72 and a beta of 1.48. The firm has a fifty day simple moving average of $2.84 and a 200-day simple moving average of $2.26. Ceragon Networks has a one year low of $1.56 and a one year high of $3.38.

Ceragon Networks (NASDAQ:CRNTGet Free Report) last issued its earnings results on Tuesday, February 20th. The communications equipment provider reported $0.03 EPS for the quarter, topping the consensus estimate of $0.02 by $0.01. The business had revenue of $90.36 million during the quarter. Ceragon Networks had a return on equity of 9.95% and a net margin of 1.79%. During the same period last year, the business earned ($0.01) EPS. Sell-side analysts expect that Ceragon Networks will post 0.18 EPS for the current year.

Ceragon Networks Company Profile

(Get Free Report)

Ceragon Networks Ltd. provides wireless transport solutions for cellular operators and other wireless service providers. Its solutions use microwave and millimeter wave radio technology to transfer telecommunication traffic between base stations, small/distributed cells, and service provider's network.

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