Ceragon Networks Ltd. (NASDAQ:CRNT) Sees Large Decline in Short Interest

Ceragon Networks Ltd. (NASDAQ:CRNT) was the target of a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 128,000 shares, a decline of 13.2% from the August 15th total of 147,400 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily trading volume, of 349,900 shares, the short-interest ratio is currently 0.4 days.

Institutional Trading of Ceragon Networks

Institutional investors have recently made changes to their positions in the stock. Eagle Wealth Strategies LLC acquired a new stake in shares of Ceragon Networks in the 1st quarter worth approximately $31,000. WINTON GROUP Ltd acquired a new stake in shares of Ceragon Networks in the 2nd quarter worth approximately $26,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Ceragon Networks in the 2nd quarter worth approximately $56,000. Sei Investments Co. lifted its stake in shares of 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 acquiring an additional 8,607 shares during the period. Finally, Worth Venture Partners LLC lifted its stake in shares of Ceragon Networks by 17.8% in the 4th quarter. Worth Venture Partners LLC now owns 87,271 shares of the communications equipment provider’s stock worth $189,000 after acquiring an additional 13,174 shares during the period. 13.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on CRNT shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $5.25 price target on shares of Ceragon Networks in a report on Thursday, August 8th. StockNews.com raised shares of Ceragon Networks from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 29th.

Ceragon Networks Trading Down 2.6 %

Ceragon Networks stock traded down $0.07 during midday trading on Wednesday, reaching $2.62. 272,902 shares of the stock traded hands, compared to its average volume of 460,356. The firm has a fifty day moving average price of $2.78 and a two-hundred day moving average price of $2.79. The firm has a market cap of $223.80 million, a price-to-earnings ratio of 53.80 and a beta of 1.35. Ceragon Networks has a fifty-two week low of $1.56 and a fifty-two week high of $3.38.

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

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.