Ceragon Networks Ltd (NASDAQ:CRNT) saw a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 3,430,000 shares, an increase of 16.7% from the January 15th total of 2,940,000 shares. Currently, 5.7% of the shares of the stock are sold short. Based on an average trading volume of 898,500 shares, the days-to-cover ratio is presently 3.8 days.

Several large investors have recently made changes to their positions in CRNT. Penserra Capital Management LLC grew its position in shares of Ceragon Networks by 160.7% in the fourth quarter. Penserra Capital Management LLC now owns 576,960 shares of the communications equipment provider’s stock valued at $1,165,000 after purchasing an additional 355,617 shares during the period. Phoenix Holdings Ltd. purchased a new stake in shares of Ceragon Networks in the third quarter valued at $164,000. BlackRock Inc. grew its position in shares of Ceragon Networks by 48.2% in the second quarter. BlackRock Inc. now owns 110,684 shares of the communications equipment provider’s stock valued at $324,000 after purchasing an additional 36,009 shares during the period. Wealthsource Partners LLC purchased a new stake in shares of Ceragon Networks in the fourth quarter valued at $42,000. Finally, Virtu Financial LLC purchased a new stake in shares of Ceragon Networks in the fourth quarter valued at $40,000. 13.78% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ CRNT traded up $0.02 during trading on Friday, reaching $1.92. The company had a trading volume of 398,297 shares, compared to its average volume of 712,069. Ceragon Networks has a twelve month low of $1.67 and a twelve month high of $5.04. The stock has a market capitalization of $154.84 million, a PE ratio of -64.00, a price-to-earnings-growth ratio of 1.75 and a beta of 1.20. The stock has a 50-day moving average price of $2.13 and a two-hundred day moving average price of $2.33.

Ceragon Networks (NASDAQ:CRNT) last announced its quarterly earnings data on Monday, February 10th. The communications equipment provider reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.05). The business had revenue of $71.26 million during the quarter, compared to analysts’ expectations of $72.16 million. Ceragon Networks had a negative net margin of 0.82% and a negative return on equity of 1.21%. Equities research analysts expect that Ceragon Networks will post 0.07 EPS for the current fiscal year.

A number of equities analysts have recently weighed in on CRNT shares. Needham & Company LLC reissued a “hold” rating on shares of Ceragon Networks in a report on Monday. Zacks Investment Research cut Ceragon Networks from a “hold” rating to a “strong sell” rating in a report on Thursday. ValuEngine raised Ceragon Networks from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Finally, Oppenheimer cut Ceragon Networks from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $3.50.

About Ceragon Networks

Ceragon Networks Ltd. provides wireless backhaul solutions that enable cellular operators and other wireless service providers to deliver voice and data services worldwide. Its wireless backhaul solutions use microwave and millimeter wave technology to transfer telecommunication traffic between base stations, small sells, and the core of the service provider's network.

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