Ceragon Networks Ltd. (NASDAQ:CRNT) Sees Significant Increase in Short Interest

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

Institutional Investors Weigh In On Ceragon Networks

Institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC grew its position in shares of Ceragon Networks by 126.4% during the 1st quarter. Acadian Asset Management LLC now owns 1,555,000 shares of the communications equipment provider’s stock worth $4,966,000 after purchasing an additional 868,138 shares in the last quarter. Inspire Investing LLC bought a new stake in shares of Ceragon Networks during the 1st quarter valued at $884,000. Lazard Asset Management LLC grew its holdings in shares of Ceragon Networks by 9,906.9% during the 1st quarter. Lazard Asset Management LLC now owns 94,765 shares of the communications equipment provider’s stock worth $303,000 after purchasing an additional 93,818 shares in the last quarter. WINTON GROUP Ltd bought a new position in shares of Ceragon Networks in the second quarter worth $26,000. Finally, Kennedy Capital Management LLC acquired a new position in Ceragon Networks in the first quarter valued at about $316,000. Institutional investors own 13.31% of the company’s stock.

Analyst Ratings Changes

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

Ceragon Networks Stock Performance

CRNT traded down $0.08 during trading hours on Tuesday, reaching $2.66. The company’s stock had a trading volume of 141,761 shares, compared to its average volume of 448,887. The company’s 50-day moving average is $2.79 and its 200-day moving average is $2.76. Ceragon Networks has a 52 week low of $1.56 and a 52 week high of $3.38. The firm has a market cap of $227.21 million, a PE ratio of 53.20 and a beta of 1.35.

Ceragon Networks (NASDAQ:CRNT) last issued its quarterly earnings data on Wednesday, August 7th. The communications equipment provider reported $0.10 earnings per share for the quarter. The company had revenue of $96.09 million for the quarter. Ceragon Networks had a net margin of 2.87% and a return on equity of 13.94%. Equities analysts anticipate that Ceragon Networks will post 0.24 earnings per share for the current fiscal 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.