Short Interest in Ceragon Networks Ltd. (NASDAQ:CRNT) Increases By 36.6%

Ceragon Networks Ltd. (NASDAQ:CRNT) was the target of a large growth in short interest in March. As of March 15th, there was short interest totalling 566,500 shares, a growth of 36.6% from the February 29th total of 414,600 shares. Approximately 0.8% of the company’s stock are short sold. Based on an average trading volume of 614,900 shares, the days-to-cover ratio is currently 0.9 days.

Institutional Trading of Ceragon Networks

A number of institutional investors have recently made changes to their positions in CRNT. Renaissance Technologies LLC raised its stake in Ceragon Networks by 20.2% in the 1st quarter. Renaissance Technologies LLC now owns 654,135 shares of the communications equipment provider’s stock worth $1,393,000 after acquiring an additional 110,093 shares during the last quarter. Invesco Ltd. raised its stake in Ceragon Networks by 171.1% in the 1st quarter. Invesco Ltd. now owns 214,051 shares of the communications equipment provider’s stock worth $456,000 after acquiring an additional 135,085 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Ceragon Networks by 772.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 543,037 shares of the communications equipment provider’s stock worth $1,157,000 after acquiring an additional 480,796 shares during the last quarter. Jane Street Group LLC purchased a new position in Ceragon Networks in the 1st quarter worth $25,000. Finally, JPMorgan Chase & Co. raised its stake in Ceragon Networks by 72.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 164,057 shares of the communications equipment provider’s stock worth $422,000 after acquiring an additional 69,051 shares during the last quarter. Institutional investors and hedge funds own 13.31% of the company’s stock.

Ceragon Networks Stock Down 0.6 %

Shares of Ceragon Networks stock traded down $0.02 during trading on Friday, reaching $3.20. The company’s stock had a trading volume of 362,064 shares, compared to its average volume of 652,027. The company has a market cap of $273.79 million, a price-to-earnings ratio of 45.72 and a beta of 1.48. Ceragon Networks has a 1-year low of $1.56 and a 1-year high of $3.38. The company has a 50-day simple moving average of $2.84 and a two-hundred day simple moving average of $2.25.

Ceragon Networks (NASDAQ:CRNT) last posted its quarterly earnings data on Tuesday, February 20th. The communications equipment provider reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The firm had revenue of $90.36 million during the quarter. Ceragon Networks had a return on equity of 9.95% and a net margin of 1.79%. During the same period in the previous year, the business earned ($0.01) EPS. As a group, analysts anticipate that Ceragon Networks will post 0.18 earnings per share for the current year.

Analysts Set New Price Targets

CRNT has been the topic of several recent research reports. StockNews.com cut Ceragon Networks from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $5.25 target price on shares of Ceragon Networks in a research report on Wednesday, February 21st.

Ceragon Networks Company Profile

Ceragon Networks Ltd. provides wireless transport solutions for cellular operators and other wireless service providers. Its solutions use microwave and millimeter wave radio technology to transfer telecommunication traffic between base stations, small/distributed cells, and service provider's network.