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

Ceragon Networks Ltd. (NASDAQ:CRNT) was the recipient of a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 317,800 shares, an increase of 14.2% from the June 15th total of 278,400 shares. Currently, 0.5% of the company’s shares are short sold. Based on an average daily volume of 374,400 shares, the short-interest ratio is presently 0.8 days.

Ceragon Networks Trading Down 1.1 %

Shares of CRNT stock traded down $0.03 during mid-day trading on Wednesday, reaching $2.67. The stock had a trading volume of 343,626 shares, compared to its average volume of 490,138. Ceragon Networks has a 1-year low of $1.56 and a 1-year high of $3.38. The firm has a market cap of $228.07 million, a price-to-earnings ratio of 53.41 and a beta of 1.39. The business’s fifty day moving average is $2.59 and its 200-day moving average is $2.72.

Ceragon Networks (NASDAQ:CRNT) last issued its quarterly earnings results on Tuesday, May 7th. The communications equipment provider reported $0.04 earnings per share for the quarter. Ceragon Networks had a net margin of 1.32% and a return on equity of 10.76%. The company had revenue of $88.50 million for the quarter. On average, analysts forecast that Ceragon Networks will post 0.18 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. StockNews.com raised shares of Ceragon Networks from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $5.25 price objective on shares of Ceragon Networks in a research report on Tuesday, May 7th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Eagle Wealth Strategies LLC purchased a new stake in Ceragon Networks in the first quarter valued at $31,000. Worth Venture Partners LLC boosted its stake in shares of Ceragon Networks by 17.8% in the fourth quarter. Worth Venture Partners LLC now owns 87,271 shares of the communications equipment provider’s stock worth $189,000 after buying an additional 13,174 shares during the last quarter. Perritt Capital Management Inc. grew its holdings in Ceragon Networks by 6.7% during the first quarter. Perritt Capital Management Inc. now owns 217,600 shares of the communications equipment provider’s stock worth $696,000 after acquiring an additional 13,600 shares during the period. Essex Investment Management Co. LLC raised its position in Ceragon Networks by 1.6% during the first quarter. Essex Investment Management Co. LLC now owns 1,080,444 shares of the communications equipment provider’s stock valued at $3,457,000 after acquiring an additional 16,630 shares in the last quarter. Finally, First Wilshire Securities Management Inc. lifted its holdings in Ceragon Networks by 1.0% in the fourth quarter. First Wilshire Securities Management Inc. now owns 3,043,001 shares of the communications equipment provider’s stock valued at $6,573,000 after acquiring an additional 31,439 shares during the period. Hedge funds and other institutional investors own 13.31% of the company’s stock.

Ceragon Networks Company Profile

Ceragon Networks Ltd., together with its subsidiaries, provides wireless transport solutions for cellular operators and other wireless service providers in North America, Europe, Africa, the Asia Pacific, the Middle East, India, and Latin America. The company's solutions use microwave and millimeter wave radio technology to transfer telecommunication traffic between base stations, small/distributed cells, and the service provider's network.