Short Interest in Ceragon Networks Ltd. (NASDAQ:CRNT) Decreases By 25.3%

Ceragon Networks Ltd. (NASDAQ:CRNT) saw a large decrease in short interest in January. As of January 30th, there was short interest totaling 602,514 shares, a decrease of 25.3% from the January 15th total of 806,320 shares. Based on an average trading volume of 418,859 shares, the short-interest ratio is currently 1.4 days. Currently, 0.8% of the company’s stock are sold short. Currently, 0.8% of the company’s stock are sold short. Based on an average trading volume of 418,859 shares, the short-interest ratio is currently 1.4 days.

Institutional Investors Weigh In On Ceragon Networks

Several institutional investors have recently added to or reduced their stakes in CRNT. BNP Paribas Financial Markets acquired a new position in shares of Ceragon Networks during the second quarter valued at about $26,000. Jones Financial Companies Lllp boosted its stake in Ceragon Networks by 283.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 11,500 shares of the communications equipment provider’s stock worth $27,000 after purchasing an additional 8,500 shares in the last quarter. Walleye Capital LLC purchased a new stake in Ceragon Networks during the 4th quarter worth approximately $27,000. Bank of Montreal Can acquired a new position in Ceragon Networks during the 2nd quarter valued at approximately $35,000. Finally, HRT Financial LP raised its holdings in shares of Ceragon Networks by 44.3% in the fourth quarter. HRT Financial LP now owns 19,660 shares of the communications equipment provider’s stock worth $41,000 after buying an additional 6,039 shares during the last quarter. Institutional investors and hedge funds own 13.31% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Zacks Research downgraded shares of Ceragon Networks from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 20th. Needham & Company LLC restated a “buy” rating and set a $3.00 target price on shares of Ceragon Networks in a report on Wednesday, November 12th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Ceragon Networks in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $4.00.

Ceragon Networks Price Performance

NASDAQ CRNT traded down $0.01 on Friday, hitting $2.26. The stock had a trading volume of 594,783 shares, compared to its average volume of 400,898. The business’s fifty day moving average price is $2.21 and its 200 day moving average price is $2.20. The stock has a market cap of $200.98 million, a price-to-earnings ratio of 113.06 and a beta of 1.20. Ceragon Networks has a 52-week low of $1.82 and a 52-week high of $3.54.

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.