Ceragon Networks Ltd. (NASDAQ:CRNT) Short Interest Up 39.1% in March

Ceragon Networks Ltd. (NASDAQ:CRNT - Get Free Report) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 560,800 shares, an increase of 39.1% from the February 28th total of 403,200 shares. Currently, 0.9% of the shares of the company are short sold. Based on an average daily volume of 2,070,000 shares, the days-to-cover ratio is currently 0.3 days.

Wall Street Analyst Weigh In

A number of research analysts have commented on CRNT shares. Needham & Company LLC restated a "buy" rating and issued a $6.00 price objective on shares of Ceragon Networks in a research note on Wednesday, February 12th. Craig Hallum started coverage on Ceragon Networks in a research report on Thursday, March 13th. They issued a "buy" rating and a $5.00 price target on the stock. Finally, StockNews.com cut Ceragon Networks from a "buy" rating to a "hold" rating in a research report on Thursday, March 20th. One 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 company. According to data from MarketBeat, Ceragon Networks presently has an average rating of "Buy" and a consensus target price of $6.38.

Ceragon Networks Trading Down 9.4 %

Shares of Ceragon Networks stock traded down $0.23 on Thursday, reaching $2.21. 1,501,675 shares of the stock were exchanged, compared to its average volume of 1,017,745. The firm has a market capitalization of $196.33 million, a PE ratio of 8.19 and a beta of 1.62. Ceragon Networks has a 1-year low of $2.20 and a 1-year high of $5.73. The business has a fifty day moving average price of $3.32 and a two-hundred day moving average price of $3.47.

Hedge Funds Weigh In On Ceragon Networks

A number of large investors have recently modified their holdings of the business. Renaissance Technologies LLC grew its holdings in Ceragon Networks by 47.1% during the fourth quarter. Renaissance Technologies LLC now owns 1,333,295 shares of the communications equipment provider's stock worth $6,226,000 after acquiring an additional 426,760 shares during the period. Millennium Management LLC increased its holdings in shares of Ceragon Networks by 123.9% in the 4th quarter. Millennium Management LLC now owns 962,898 shares of the communications equipment provider's stock valued at $4,497,000 after purchasing an additional 532,798 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of Ceragon Networks by 598.1% in the fourth quarter. Marshall Wace LLP now owns 703,091 shares of the communications equipment provider's stock valued at $3,283,000 after purchasing an additional 602,383 shares during the period. Lazard Asset Management LLC boosted its holdings in Ceragon Networks by 26.7% during the fourth quarter. Lazard Asset Management LLC now owns 570,288 shares of the communications equipment provider's stock worth $2,663,000 after buying an additional 120,106 shares in the last quarter. Finally, Navellier & Associates Inc. purchased a new position in Ceragon Networks in the fourth quarter valued at about $1,804,000. 13.31% of the stock is owned by hedge funds and other institutional investors.

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.