Ceragon Networks Ltd. (NASDAQ:CRNT) Short Interest Down 20.0% in December

Ceragon Networks Ltd. (NASDAQ:CRNT) was the target of a large decrease in short interest in December. As of December 31st, there was short interest totaling 726,791 shares, a decrease of 20.0% from the December 15th total of 908,001 shares. Based on an average daily trading volume, of 617,256 shares, the days-to-cover ratio is presently 1.2 days. Approximately 1.0% of the shares of the company are short sold. Approximately 1.0% of the shares of the company are short sold. Based on an average daily trading volume, of 617,256 shares, the days-to-cover ratio is presently 1.2 days.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Ceragon Networks in a research note on Monday, December 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $3.00 price objective on shares of Ceragon Networks in a research note on Wednesday, November 12th. Finally, Zacks Research raised Ceragon Networks from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $4.00.

Institutional Investors Weigh In On Ceragon Networks

A number of institutional investors have recently added to or reduced their stakes in CRNT. CSM Advisors LLC acquired a new position in Ceragon Networks in the third quarter valued at about $4,819,000. Private Advisor Group LLC bought a new position in shares of Ceragon Networks during the third quarter worth $2,247,000. First Wilshire Securities Management Inc. grew its position in shares of Ceragon Networks by 23.6% in the 2nd quarter. First Wilshire Securities Management Inc. now owns 4,058,774 shares of the communications equipment provider’s stock valued at $9,985,000 after purchasing an additional 775,782 shares during the period. Squarepoint Ops LLC increased its holdings in Ceragon Networks by 642.7% during the 2nd quarter. Squarepoint Ops LLC now owns 552,939 shares of the communications equipment provider’s stock worth $1,360,000 after purchasing an additional 478,489 shares in the last quarter. Finally, Essex Investment Management Co. LLC lifted its stake in Ceragon Networks by 36.9% in the 3rd quarter. Essex Investment Management Co. LLC now owns 1,418,197 shares of the communications equipment provider’s stock valued at $3,304,000 after acquiring an additional 382,058 shares in the last quarter. 13.31% of the stock is owned by institutional investors and hedge funds.

Ceragon Networks Price Performance

CRNT stock opened at $2.36 on Friday. The company has a 50-day moving average of $2.10 and a two-hundred day moving average of $2.21. The stock has a market capitalization of $209.87 million, a price-to-earnings ratio of 118.06 and a beta of 1.07. Ceragon Networks has a 52-week low of $1.82 and a 52-week high of $5.52.

Ceragon Networks (NASDAQ:CRNT) last posted its quarterly earnings data on Wednesday, November 12th. The communications equipment provider reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). The business had revenue of $85.48 million during the quarter, compared to the consensus estimate of $83.48 million. Ceragon Networks had a net margin of 0.38% and a return on equity of 6.67%. Equities analysts expect that Ceragon Networks will post 0.26 EPS for the current fiscal year.

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.