Short Interest in Ceragon Networks Ltd. (NASDAQ:CRNT) Rises By 195.2%

Ceragon Networks Ltd. (NASDAQ:CRNT - Get Free Report) saw a significant increase in short interest in February. As of February 15th, there was short interest totalling 732,400 shares, an increase of 195.2% from the January 31st total of 248,100 shares. Approximately 1.1% of the shares of the stock are short sold. Based on an average trading volume of 2,450,000 shares, the short-interest ratio is currently 0.3 days.

Ceragon Networks Trading Up 2.7 %

Shares of NASDAQ:CRNT traded up $0.07 during trading on Tuesday, reaching $2.67. The company had a trading volume of 2,226,975 shares, compared to its average volume of 2,529,656. Ceragon Networks has a 12 month low of $2.33 and a 12 month high of $5.73. The stock has a market capitalization of $228.07 million, a P/E ratio of 9.89 and a beta of 1.59. The company has a fifty day moving average of $4.31 and a two-hundred day moving average of $3.53.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CRNT. StockNews.com cut shares of Ceragon Networks from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. Needham & Company LLC reissued a "buy" rating and set a $6.00 price objective on shares of Ceragon Networks in a research note on Wednesday, February 12th. Finally, Litchfield Hills Research assumed coverage on Ceragon Networks in a research note on Tuesday, December 3rd. They issued a "buy" rating and a $10.00 target price on the stock. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Ceragon Networks presently has a consensus rating of "Buy" and an average target price of $6.83.

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Institutional Trading of Ceragon Networks

A number of hedge funds have recently bought and sold shares of the company. Hillsdale Investment Management Inc. grew its position in Ceragon Networks by 3.9% during the fourth quarter. Hillsdale Investment Management Inc. now owns 80,800 shares of the communications equipment provider's stock valued at $377,000 after acquiring an additional 3,000 shares during the last quarter. Algert Global LLC grew its holdings in shares of Ceragon Networks by 32.2% during the 4th quarter. Algert Global LLC now owns 46,454 shares of the communications equipment provider's stock valued at $217,000 after purchasing an additional 11,310 shares during the last quarter. Penn Capital Management Company LLC purchased a new position in Ceragon Networks in the 4th quarter worth $54,000. Commonwealth Equity Services LLC purchased a new position in Ceragon Networks in the 4th quarter worth $58,000. Finally, Sei Investments Co. lifted its stake in Ceragon Networks by 21.6% in the fourth quarter. Sei Investments Co. now owns 78,180 shares of the communications equipment provider's stock worth $365,000 after purchasing an additional 13,909 shares during the last quarter. 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.