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

Ceragon Networks Ltd. (NASDAQ:CRNT) saw a significant decrease in short interest during the month of January. As of January 30th, there was short interest totaling 602,514 shares, a decrease of 25.3% from the January 15th total of 806,320 shares. Based on an average daily volume of 418,859 shares, the days-to-cover ratio is currently 1.4 days. Approximately 0.8% of the shares of the company are short sold. Approximately 0.8% of the shares of the company are short sold. Based on an average daily volume of 418,859 shares, the days-to-cover ratio is currently 1.4 days.

Wall Street Analysts Forecast Growth

Several research firms have commented on CRNT. Weiss Ratings restated a “hold (c-)” rating on shares of Ceragon Networks in a research report on Monday, December 29th. Zacks Research downgraded shares of Ceragon Networks from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $3.00 price objective on shares of Ceragon Networks in a report on Wednesday, November 12th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $4.00.

Institutional Investors Weigh In On Ceragon Networks

Large investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets purchased a new position in Ceragon Networks during the second quarter worth approximately $26,000. Jones Financial Companies Lllp raised its holdings in shares of Ceragon Networks by 283.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 11,500 shares of the communications equipment provider’s stock worth $27,000 after acquiring an additional 8,500 shares during the period. Walleye Capital LLC acquired a new position in shares of Ceragon Networks during the 4th quarter valued at about $27,000. Bank of Montreal Can purchased a new stake in shares of Ceragon Networks in the second quarter valued at about $35,000. Finally, HRT Financial LP grew its holdings in shares of Ceragon Networks by 44.3% in the fourth quarter. HRT Financial LP now owns 19,660 shares of the communications equipment provider’s stock valued at $41,000 after purchasing an additional 6,039 shares during the period. 13.31% of the stock is currently owned by hedge funds and other institutional investors.

Ceragon Networks Stock Down 0.4%

Ceragon Networks stock opened at $2.26 on Monday. The company has a fifty day simple moving average of $2.21 and a 200-day simple moving average of $2.20. The firm has a market capitalization of $200.98 million, a price-to-earnings ratio of 113.06 and a beta of 1.19. Ceragon Networks has a 52-week low of $1.82 and a 52-week high of $3.54.

About Ceragon Networks

Ceragon Networks Ltd. is a global provider of wireless backhaul solutions, specializing in high-capacity, low-latency connectivity for mobile operators and private networks. The company designs and manufactures a portfolio of microwave and millimeter-wave equipment that serves as a fiber alternative for carrying voice, data and video traffic between cell sites and core networks. Ceragon’s solutions are engineered to support the rigorous performance requirements of modern 4G and 5G deployments, with an emphasis on scalability, reliability and efficient spectrum utilization.

The company’s product lineup includes point-to-point and multi-point radio platforms, as well as software-driven network management tools that enable operators to plan, deploy and monitor end-to-end transport networks.