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

Ceragon Networks Ltd. (NASDAQ:CRNT) was the recipient of a significant decrease in short interest in the month of May. As of May 29th, there was short interest totaling 98,112 shares, a decrease of 38.5% from the May 14th total of 159,641 shares. Based on an average trading volume of 786,063 shares, the short-interest ratio is presently 0.1 days. Approximately 0.1% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

CRNT has been the topic of a number of analyst reports. Craig Hallum reiterated a “buy” rating and issued a $4.00 price target on shares of Ceragon Networks in a research report on Wednesday, May 20th. Lake Street Capital began coverage on Ceragon Networks in a report on Tuesday, March 31st. They set a “buy” rating and a $3.50 target price on the stock. Zacks Research upgraded Ceragon Networks from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Roth Mkm restated a “buy” rating and set a $4.50 target price on shares of Ceragon Networks in a report on Tuesday, May 19th. Finally, Needham & Company LLC restated a “buy” rating and set a $3.00 target price on shares of Ceragon Networks in a report on Wednesday, May 20th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Ceragon Networks currently has an average rating of “Moderate Buy” and a consensus target price of $3.75.

Ceragon Networks Stock Performance

Shares of CRNT stock opened at $2.99 on Monday. The stock’s fifty day moving average is $2.62 and its 200-day moving average is $2.35. The stock has a market capitalization of $271.76 million, a PE ratio of -149.50 and a beta of 1.35. Ceragon Networks has a 52 week low of $1.82 and a 52 week high of $3.29.

Ceragon Networks (NASDAQ:CRNT) last posted its quarterly earnings results on Wednesday, April 15th. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter. The business had revenue of $85.00 million for the quarter. Ceragon Networks had a positive return on equity of 2.27% and a negative net margin of 0.73%. As a group, analysts forecast that Ceragon Networks will post 0.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ceragon Networks

Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new position in Ceragon Networks in the second quarter valued at about $26,000. Jones Financial Companies Lllp lifted its stake in Ceragon Networks by 283.3% in the third quarter. Jones Financial Companies Lllp now owns 11,500 shares of the communications equipment provider’s stock valued at $27,000 after buying an additional 8,500 shares during the period. Walleye Capital LLC acquired a new position in Ceragon Networks in the fourth quarter valued at about $27,000. Tamar Securities LLC lifted its stake in Ceragon Networks by 67.3% in the fourth quarter. Tamar Securities LLC now owns 17,016 shares of the communications equipment provider’s stock valued at $36,000 after buying an additional 6,848 shares during the period. Finally, HRT Financial LP lifted its stake in 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 buying an additional 6,039 shares during the period. Institutional investors own 13.31% of the company’s stock.

Ceragon Networks Company Profile

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.