Short Interest in Ceragon Networks Ltd. (NASDAQ:CRNT) Decreases By 44.9%

Ceragon Networks Ltd. (NASDAQ:CRNT - Get Free Report) was the recipient of a significant decline in short interest in February. As of February 28th, there was short interest totalling 403,200 shares, a decline of 44.9% from the February 13th total of 732,400 shares. Based on an average daily trading volume, of 2,290,000 shares, the short-interest ratio is presently 0.2 days. Approximately 0.6% of the shares of the stock are short sold.

Ceragon Networks Trading Down 1.5 %

NASDAQ:CRNT traded down $0.04 during mid-day trading on Tuesday, hitting $2.58. 703,942 shares of the company's stock were exchanged, compared to its average volume of 990,170. The firm has a market capitalization of $220.38 million, a P/E ratio of 9.56 and a beta of 1.62. Ceragon Networks has a fifty-two week low of $2.33 and a fifty-two week high of $5.73. The company has a 50 day simple moving average of $3.86 and a 200-day simple moving average of $3.50.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CRNT. Litchfield Hills Research assumed coverage on shares of Ceragon Networks in a research report on Tuesday, December 3rd. They set a "buy" rating and a $10.00 target price on the stock. StockNews.com cut shares of Ceragon Networks from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. Craig Hallum assumed coverage on shares of Ceragon Networks in a research note on Thursday, March 13th. They issued a "buy" rating and a $5.00 price target for the company. Finally, Needham & Company LLC restated a "buy" rating and set a $6.00 target price on shares of Ceragon Networks in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $6.38.

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Institutional Trading of Ceragon Networks

Several hedge funds have recently modified their holdings of the stock. Penn Capital Management Company LLC bought a new stake in Ceragon Networks during the 4th quarter valued at $54,000. Commonwealth Equity Services LLC purchased a new position in shares of Ceragon Networks in the 4th quarter worth about $58,000. Bravias Capital Group LLC purchased a new stake in Ceragon Networks during the fourth quarter valued at about $71,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Ceragon Networks during the fourth quarter valued at about $81,000. Finally, Perigon Wealth Management LLC purchased a new stake in Ceragon Networks during the fourth quarter valued at about $90,000. Institutional investors own 13.31% of the company's stock.

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.