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

Ceragon Networks Ltd. (NASDAQ:CRNT) saw a significant decline in short interest during the month of February. As of February 28th, there was short interest totalling 403,200 shares, a decline of 44.9% from the February 13th total of 732,400 shares. Currently, 0.6% of the company’s shares are short sold. Based on an average daily trading volume, of 2,290,000 shares, the short-interest ratio is presently 0.2 days.

Analyst Upgrades and Downgrades

CRNT has been the topic of several analyst reports. Litchfield Hills Research assumed coverage on Ceragon Networks in a report on Tuesday, December 3rd. They set a “buy” rating and a $10.00 price target on the stock. Needham & Company LLC restated a “buy” rating and set a $6.00 price target on shares of Ceragon Networks in a report on Wednesday, February 12th. StockNews.com cut Ceragon Networks from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Finally, Craig Hallum assumed coverage on Ceragon Networks in a research note on Thursday. They issued a “buy” rating and a $5.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Ceragon Networks currently has a consensus rating of “Buy” and a consensus price target of $6.38.

Ceragon Networks Stock Up 5.4 %

NASDAQ CRNT traded up $0.14 during trading hours on Friday, hitting $2.73. 1,148,200 shares of the company were exchanged, compared to its average volume of 991,099. The company has a 50 day moving average of $3.92 and a two-hundred day moving average of $3.50. The firm has a market cap of $233.19 million, a price-to-earnings ratio of 10.11 and a beta of 1.62. Ceragon Networks has a 52-week low of $2.33 and a 52-week high of $5.73.

Institutional Investors Weigh In On Ceragon Networks

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

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.