Ceragon Networks Ltd. (NASDAQ:CRNT) Short Interest Down 27.0% in February

Ceragon Networks Ltd. (NASDAQ:CRNT) was the recipient of a significant drop in short interest during the month of February. As of February 13th, there was short interest totaling 440,066 shares, a drop of 27.0% from the January 29th total of 602,514 shares. Currently, 0.6% of the shares of the company are short sold. Based on an average trading volume of 437,724 shares, the short-interest ratio is presently 1.0 days. Based on an average trading volume of 437,724 shares, the short-interest ratio is presently 1.0 days. Currently, 0.6% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Ceragon Networks

Several institutional investors have recently modified their holdings of the business. First Wilshire Securities Management Inc. lifted its position in Ceragon Networks by 23.6% during the 2nd quarter. First Wilshire Securities Management Inc. now owns 4,058,774 shares of the communications equipment provider’s stock worth $9,985,000 after acquiring an additional 775,782 shares during the period. CSM Advisors LLC grew its stake in Ceragon Networks by 10.5% in the 4th quarter. CSM Advisors LLC now owns 2,284,048 shares of the communications equipment provider’s stock valued at $4,795,000 after acquiring an additional 216,273 shares during the period. Private Advisor Group LLC increased its stake in Ceragon Networks by 47.4% during the 4th quarter. Private Advisor Group LLC now owns 1,420,888 shares of the communications equipment provider’s stock worth $2,984,000 after buying an additional 456,710 shares in the last quarter. Essex Investment Management Co. LLC increased its holdings in shares of Ceragon Networks by 36.9% in the third 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 purchasing an additional 382,058 shares during the last quarter. Finally, WealthTrust Axiom LLC raised its stake in Ceragon Networks by 13.2% during the fourth quarter. WealthTrust Axiom LLC now owns 900,299 shares of the communications equipment provider’s stock worth $1,891,000 after purchasing an additional 104,799 shares during the period. 13.31% of the stock is owned by hedge funds and other institutional investors.

Ceragon Networks Stock Up 2.4%

Shares of CRNT stock traded up $0.06 during trading on Monday, hitting $2.33. The company had a trading volume of 227,024 shares, compared to its average volume of 521,320. Ceragon Networks has a 52 week low of $1.82 and a 52 week high of $2.85. The stock has a market capitalization of $206.76 million, a price-to-earnings ratio of -116.25 and a beta of 1.20. The stock’s 50-day moving average is $2.25 and its two-hundred day moving average is $2.22.

Ceragon Networks (NASDAQ:CRNT) last announced its quarterly earnings data on Tuesday, February 17th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). Ceragon Networks had a negative net margin of 0.62% and a positive return on equity of 3.52%. The company had revenue of $82.33 million for the quarter, compared to the consensus estimate of $84.23 million. On average, research analysts predict that Ceragon Networks will post 0.26 EPS for the current fiscal year.

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.