Ceragon Networks Ltd. (NASDAQ:CRNT) Short Interest Up 554.3% in November

Ceragon Networks Ltd. (NASDAQ:CRNT) was the target of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 282,000 shares, an increase of 554.3% from the November 15th total of 43,100 shares. Based on an average daily trading volume, of 912,800 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.4% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Roth Capital raised shares of Ceragon Networks to a “strong-buy” rating in a research report on Monday, October 28th. Roth Mkm began coverage on shares of Ceragon Networks in a research report on Monday, October 28th. They set a “buy” rating and a $4.50 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $6.00 target price (up previously from $4.50) on shares of Ceragon Networks in a research report on Wednesday, December 4th. Finally, Litchfield Hills Research initiated coverage on Ceragon Networks in a report on Tuesday, December 3rd. They set a “buy” rating and a $10.00 target price on the stock. Three analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Ceragon Networks currently has a consensus rating of “Buy” and a consensus price target of $6.83.

Institutional Investors Weigh In On Ceragon Networks

Large investors have recently added to or reduced their stakes in the business. WINTON GROUP Ltd acquired a new position in shares of Ceragon Networks in the second quarter valued at approximately $26,000. Cubist Systematic Strategies LLC acquired a new position in Ceragon Networks in the 2nd quarter valued at $56,000. Sei Investments Co. grew 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 valued at $69,000 after buying an additional 8,607 shares in the last quarter. XTX Topco Ltd bought a new position in Ceragon Networks during the 3rd quarter worth $152,000. Finally, Walleye Capital LLC grew its stake in shares of Ceragon Networks by 95.1% in the third quarter. Walleye Capital LLC now owns 283,933 shares of the communications equipment provider’s stock valued at $778,000 after acquiring an additional 138,411 shares in the last quarter. Institutional investors own 13.31% of the company’s stock.

Ceragon Networks Price Performance

NASDAQ CRNT traded up $0.41 during trading on Wednesday, reaching $4.91. 4,135,108 shares of the company’s stock were exchanged, compared to its average volume of 603,383. The business has a 50 day moving average price of $3.05 and a 200-day moving average price of $2.81. The stock has a market capitalization of $419.40 million, a P/E ratio of 21.95 and a beta of 1.61. Ceragon Networks has a fifty-two week low of $1.83 and a fifty-two week high of $5.00.

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.