Short Interest in Ceragon Networks Ltd. (NASDAQ:CRNT) Grows By 8.2%

Ceragon Networks Ltd. (NASDAQ:CRNT) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 85,900 shares, an increase of 8.2% from the October 15th total of 79,400 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily volume of 322,200 shares, the short-interest ratio is presently 0.3 days.

Hedge Funds Weigh In On Ceragon Networks

A number of large investors have recently bought and sold shares of CRNT. WINTON GROUP Ltd purchased a new position in Ceragon Networks during the second quarter worth about $26,000. Cubist Systematic Strategies LLC acquired a new position in Ceragon Networks during the 2nd quarter worth $56,000. Sei Investments Co. increased its position 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 valued at $69,000 after purchasing an additional 8,607 shares during the last quarter. XTX Topco Ltd purchased a new position in Ceragon Networks in the third quarter valued at $152,000. Finally, Lazard Asset Management LLC raised its position 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 acquiring an additional 93,818 shares in the last quarter. Institutional investors and hedge funds own 13.31% of the company’s stock.

Ceragon Networks Price Performance

Ceragon Networks stock opened at $3.12 on Tuesday. Ceragon Networks has a 1-year low of $1.75 and a 1-year high of $3.38. The stock has a market capitalization of $266.51 million, a price-to-earnings ratio of 14.18 and a beta of 1.35. The business has a fifty day moving average price of $2.61 and a 200-day moving average price of $2.66.

Analysts Set New Price Targets

Several research analysts recently issued reports on CRNT shares. Needham & Company LLC reiterated a “buy” rating and issued a $5.25 price target on shares of Ceragon Networks in a research note on Thursday, August 8th. Roth Capital upgraded shares of Ceragon Networks to a “strong-buy” rating in a research note on Monday, October 28th. Finally, Roth Mkm assumed coverage on Ceragon Networks in a research note on Monday, October 28th. They set a “buy” rating and a $4.50 price target for the company. Two equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Strong Buy” and a consensus target price of $4.88.

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.