Ceragon Networks Ltd. (NASDAQ:CRNT) Short Interest Up 554.3% in November

Ceragon Networks Ltd. (NASDAQ:CRNT) saw a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 282,000 shares, a growth of 554.3% from the November 15th total of 43,100 shares. Currently, 0.4% of the shares of the company are sold short. Based on an average daily volume of 912,800 shares, the short-interest ratio is currently 0.3 days.

Ceragon Networks Stock Performance

Shares of Ceragon Networks stock traded up $0.08 on Friday, reaching $4.82. The company had a trading volume of 449,414 shares, compared to its average volume of 607,873. Ceragon Networks has a 52-week low of $1.95 and a 52-week high of $5.00. The firm’s 50 day moving average price is $3.14 and its two-hundred day moving average price is $2.83. The firm has a market cap of $411.72 million, a PE ratio of 21.55 and a beta of 1.61.

Institutional Investors Weigh In On Ceragon Networks

Several institutional investors and hedge funds have recently modified their holdings of CRNT. WINTON GROUP Ltd purchased a new position in Ceragon Networks in the 2nd quarter valued at approximately $26,000. Cubist Systematic Strategies LLC purchased a new position in Ceragon Networks in the second quarter valued at $56,000. Sei Investments Co. grew its stake in Ceragon Networks by 45.7% during the 2nd quarter. Sei Investments Co. now owns 27,423 shares of the communications equipment provider’s stock worth $69,000 after purchasing an additional 8,607 shares in the last quarter. XTX Topco Ltd purchased a new stake in Ceragon Networks during the 3rd quarter worth about $152,000. Finally, Walleye Capital LLC raised its position in Ceragon Networks by 95.1% in the 3rd quarter. Walleye Capital LLC now owns 283,933 shares of the communications equipment provider’s stock valued at $778,000 after purchasing an additional 138,411 shares in the last quarter. Hedge funds and other institutional investors own 13.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Needham & Company LLC restated a “buy” rating and issued a $6.00 target price (up previously from $4.50) on shares of Ceragon Networks in a research note on Wednesday, December 4th. Roth Mkm assumed coverage on Ceragon Networks in a research report on Monday, October 28th. They issued a “buy” rating and a $4.50 price objective on the stock. Litchfield Hills Research started coverage on shares of Ceragon Networks in a research note on Tuesday, December 3rd. They issued a “buy” rating and a $10.00 target price for the company. Finally, Roth Capital upgraded shares of Ceragon Networks to a “strong-buy” rating in a research report on Monday, October 28th. Three investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $6.83.

About Ceragon Networks

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.