Ceragon Networks Ltd. (NASDAQ:CRNT) Short Interest Down 49.8% in November

Ceragon Networks Ltd. (NASDAQ:CRNT) saw a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 43,100 shares, a drop of 49.8% from the October 31st total of 85,900 shares. Based on an average trading volume of 617,700 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.1% of the shares of the stock are sold short.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Roth Capital raised shares of Ceragon Networks to a “strong-buy” rating in a report on Monday, October 28th. Needham & Company LLC restated a “buy” rating and issued a $5.25 price objective on shares of Ceragon Networks in a report on Thursday, August 8th. Finally, Roth Mkm assumed coverage on Ceragon Networks in a report on Monday, October 28th. They issued a “buy” rating and a $4.50 price objective on the stock. Two research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Strong Buy” and a consensus price target of $4.88.

Ceragon Networks Stock Down 1.2 %

Shares of CRNT traded down $0.05 during mid-day trading on Thursday, hitting $4.07. 1,873,668 shares of the company’s stock traded hands, compared to its average volume of 522,776. The business’s 50-day moving average price is $2.71 and its 200-day moving average price is $2.69. Ceragon Networks has a 1 year low of $1.80 and a 1 year high of $4.17. The firm has a market capitalization of $347.66 million, a P/E ratio of 18.50 and a beta of 1.35.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CRNT. WINTON GROUP Ltd bought a new position in Ceragon Networks in the second quarter worth $26,000. Cubist Systematic Strategies LLC bought a new stake in Ceragon Networks in the 2nd quarter worth about $56,000. Sei Investments Co. grew its stake in shares of Ceragon Networks by 45.7% in the second quarter. Sei Investments Co. now owns 27,423 shares of the communications equipment provider’s stock worth $69,000 after acquiring an additional 8,607 shares during the period. XTX Topco Ltd purchased a new stake in Ceragon Networks during the 3rd quarter valued at $152,000. Finally, Lazard Asset Management LLC increased its position in Ceragon Networks by 9,906.9% during the first quarter. Lazard Asset Management LLC now owns 94,765 shares of the communications equipment provider’s stock valued at $303,000 after acquiring an additional 93,818 shares during the last quarter. 13.31% of the stock is currently owned by institutional investors.

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.