Ceragon Networks Ltd. (NASDAQ:CRNT) Short Interest Update

Ceragon Networks Ltd. (NASDAQ:CRNT) saw a significant growth in short interest in 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 trading volume, of 342,000 shares, the short-interest ratio is presently 0.4 days. Approximately 0.2% of the shares of the stock are short sold.

Institutional Investors Weigh In On Ceragon Networks

A number of large investors have recently added to or reduced their stakes in CRNT. Eagle Wealth Strategies LLC purchased a new stake in shares of Ceragon Networks during the first quarter worth about $31,000. WINTON GROUP Ltd bought a new stake in Ceragon Networks in the second quarter valued at $26,000. Cubist Systematic Strategies LLC purchased a new position in Ceragon Networks during the 2nd quarter valued at $56,000. Sei Investments Co. raised its holdings in Ceragon Networks by 45.7% in the 2nd quarter. Sei Investments Co. now owns 27,423 shares of the communications equipment provider’s stock worth $69,000 after purchasing an additional 8,607 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its position in shares of Ceragon Networks by 9,906.9% in 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 during the period. Institutional investors own 13.31% of the company’s stock.

Ceragon Networks Trading Down 4.4 %

Shares of CRNT traded down $0.12 during mid-day trading on Tuesday, reaching $2.62. The company’s stock had a trading volume of 263,098 shares, compared to its average volume of 449,529. Ceragon Networks has a 52 week low of $1.56 and a 52 week high of $3.38. The stock has a market cap of $223.80 million, a PE ratio of 53.20 and a beta of 1.35. The company’s fifty day moving average price is $2.79 and its two-hundred day moving average price is $2.76.

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

Analyst Upgrades and Downgrades

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

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.