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

Ceragon Networks Ltd. (NASDAQ:CRNT) was the recipient of a significant decline in short interest in the month of June. As of June 15th, there was short interest totalling 278,400 shares, a decline of 35.5% from the May 31st total of 431,900 shares. Based on an average trading volume of 407,700 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.4% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CRNT. StockNews.com upgraded shares of Ceragon Networks from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 29th. Needham & Company LLC restated a “buy” rating and set a $5.25 target price on shares of Ceragon Networks in a research report on Tuesday, May 7th.

Ceragon Networks Trading Up 3.3 %

Shares of NASDAQ CRNT opened at $2.50 on Friday. The firm has a 50 day moving average of $2.66 and a 200 day moving average of $2.67. The firm has a market capitalization of $213.55 million, a price-to-earnings ratio of 50.01 and a beta of 1.39. Ceragon Networks has a 12-month low of $1.56 and a 12-month high of $3.38.

Ceragon Networks (NASDAQ:CRNT) last issued its quarterly earnings results on Tuesday, May 7th. The communications equipment provider reported $0.04 earnings per share for the quarter. Ceragon Networks had a net margin of 1.32% and a return on equity of 10.76%. The business had revenue of $88.50 million for the quarter. Sell-side analysts predict that Ceragon Networks will post 0.18 EPS for the current year.

Hedge Funds Weigh In On Ceragon Networks

Large investors have recently added to or reduced their stakes in the company. Eagle Wealth Strategies LLC purchased a new position in Ceragon Networks during the first quarter valued at approximately $31,000. Worth Venture Partners LLC lifted its holdings in Ceragon Networks by 13.3% during the third quarter. Worth Venture Partners LLC now owns 74,097 shares of the communications equipment provider’s stock valued at $152,000 after purchasing an additional 8,700 shares in the last quarter. Lazard Asset Management LLC lifted its holdings 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 worth $303,000 after buying an additional 93,818 shares in the last quarter. Kennedy Capital Management LLC purchased a new position in shares of Ceragon Networks in the first quarter worth $316,000. Finally, Perritt Capital Management Inc. lifted its holdings in shares of Ceragon Networks by 14.9% in the third quarter. Perritt Capital Management Inc. now owns 204,000 shares of the communications equipment provider’s stock worth $418,000 after buying an additional 26,500 shares in the last quarter. Hedge funds and other institutional investors own 13.31% of the company’s stock.

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.