Short Interest in Ceragon Networks Ltd. (NASDAQ:CRNT) Expands By 195.2%

Ceragon Networks Ltd. (NASDAQ:CRNT) was the recipient of a significant increase in short interest during the month of February. As of February 15th, there was short interest totalling 732,400 shares, an increase of 195.2% from the January 31st total of 248,100 shares. Approximately 1.1% of the shares of the company are sold short. Based on an average trading volume of 2,450,000 shares, the short-interest ratio is presently 0.3 days.

Ceragon Networks Stock Performance

NASDAQ CRNT opened at $2.79 on Friday. The firm has a market cap of $238.32 million, a PE ratio of 10.33 and a beta of 1.59. Ceragon Networks has a one year low of $2.33 and a one year high of $5.73. The firm’s fifty day moving average is $4.35 and its two-hundred day moving average is $3.53.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Hillsdale Investment Management Inc. increased its stake in Ceragon Networks by 3.9% in the fourth quarter. Hillsdale Investment Management Inc. now owns 80,800 shares of the communications equipment provider’s stock valued at $377,000 after purchasing an additional 3,000 shares during the period. Algert Global LLC increased its stake in Ceragon Networks by 32.2% in the fourth quarter. Algert Global LLC now owns 46,454 shares of the communications equipment provider’s stock valued at $217,000 after purchasing an additional 11,310 shares during the period. Penn Capital Management Company LLC acquired a new position in Ceragon Networks in the fourth quarter valued at $54,000. Commonwealth Equity Services LLC acquired a new position in Ceragon Networks in the fourth quarter valued at $58,000. Finally, Sei Investments Co. increased its stake in Ceragon Networks by 21.6% in the fourth quarter. Sei Investments Co. now owns 78,180 shares of the communications equipment provider’s stock valued at $365,000 after purchasing an additional 13,909 shares during the period. 13.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CRNT has been the subject of a number of research reports. Litchfield Hills Research initiated coverage on shares of Ceragon Networks in a research report on Tuesday, December 3rd. They issued a “buy” rating and a $10.00 price target for the company. Needham & Company LLC reissued a “buy” rating and issued a $6.00 price target on shares of Ceragon Networks in a research report on Wednesday, February 12th. Finally, StockNews.com cut shares of Ceragon Networks from a “buy” rating to a “hold” rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $6.83.

About Ceragon Networks

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.