Short Interest in Ceragon Networks Ltd. (NASDAQ:CRNT) Grows By 8.2%

Ceragon Networks Ltd. (NASDAQ:CRNT) was the recipient of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 85,900 shares, an increase of 8.2% from the October 15th total of 79,400 shares. Based on an average daily volume of 322,200 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.1% of the shares of the company are short sold.

Ceragon Networks Stock Up 15.1 %

Shares of Ceragon Networks stock opened at $3.12 on Tuesday. Ceragon Networks has a 12-month low of $1.75 and a 12-month high of $3.38. The firm has a market capitalization of $266.51 million, a PE ratio of 14.18 and a beta of 1.35. The stock’s fifty day moving average is $2.61 and its 200-day moving average is $2.66.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Roth Mkm started coverage on shares of Ceragon Networks in a research report on Monday, October 28th. They set a “buy” rating and a $4.50 target price on the stock. Needham & Company LLC restated a “buy” rating and issued a $5.25 target price on shares of Ceragon Networks in a report on Thursday, August 8th. Finally, Roth Capital upgraded Ceragon Networks to a “strong-buy” rating in a report on Monday, October 28th. Two investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Strong Buy” and an average price target of $4.88.

Hedge Funds Weigh In On Ceragon Networks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC boosted its holdings in Ceragon Networks by 126.4% during the first quarter. Acadian Asset Management LLC now owns 1,555,000 shares of the communications equipment provider’s stock valued at $4,966,000 after purchasing an additional 868,138 shares in the last quarter. Lazard Asset Management LLC raised its stake in Ceragon Networks by 9,906.9% during the 1st quarter. Lazard Asset Management LLC now owns 94,765 shares of the communications equipment provider’s stock worth $303,000 after buying an additional 93,818 shares during the period. Perritt Capital Management Inc. raised its holdings in Ceragon Networks by 6.7% during the 1st quarter. Perritt Capital Management Inc. now owns 217,600 shares of the communications equipment provider’s stock worth $696,000 after buying an additional 13,600 shares during the period. Kennedy Capital Management LLC acquired a new position in Ceragon Networks in the 1st quarter worth $316,000. Finally, WINTON GROUP Ltd bought a new position in shares of Ceragon Networks during the second quarter worth about $26,000. Institutional investors and hedge funds 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.