Short Interest in Ceragon Networks Ltd. (NASDAQ:CRNT) Decreases By 22.1%

Ceragon Networks Ltd. (NASDAQ:CRNT - Get Free Report) saw a significant drop in short interest during the month of April. As of April 15th, there was short interest totalling 418,500 shares, a drop of 22.1% from the March 31st total of 537,100 shares. Based on an average daily trading volume, of 1,700,000 shares, the short-interest ratio is currently 0.2 days. Currently, 0.6% of the shares of the company are short sold.

Wall Street Analyst Weigh In

CRNT has been the topic of a number of research analyst reports. Craig Hallum initiated coverage on Ceragon Networks in a research note on Thursday, March 13th. They issued a "buy" rating and a $5.00 price target on the stock. StockNews.com raised shares of Ceragon Networks from a "hold" rating to a "buy" rating in a report on Wednesday, April 9th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $6.00 target price on shares of Ceragon Networks in a research report on Wednesday, February 12th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Ceragon Networks presently has an average rating of "Buy" and a consensus price target of $6.38.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Marshall Wace LLP lifted its holdings 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 worth $3,283,000 after acquiring an additional 602,383 shares during the last quarter. Millennium Management LLC boosted its position in Ceragon Networks by 123.9% in the fourth quarter. Millennium Management LLC now owns 962,898 shares of the communications equipment provider's stock valued at $4,497,000 after buying an additional 532,798 shares in the last quarter. Renaissance Technologies LLC boosted its position in Ceragon Networks by 47.1% in the fourth quarter. Renaissance Technologies LLC now owns 1,333,295 shares of the communications equipment provider's stock valued at $6,226,000 after buying an additional 426,760 shares in the last quarter. Navellier & Associates Inc. acquired a new position in shares of Ceragon Networks during the fourth quarter worth $1,804,000. Finally, Two Sigma Investments LP boosted its holdings in shares of Ceragon Networks by 951.7% during the 4th quarter. Two Sigma Investments LP now owns 296,588 shares of the communications equipment provider's stock valued at $1,385,000 after acquiring an additional 268,388 shares in the last quarter. Institutional investors and hedge funds own 13.31% of the company's stock.

Ceragon Networks Stock Performance

Shares of NASDAQ CRNT traded down $0.06 during midday trading on Tuesday, reaching $2.25. The company's stock had a trading volume of 243,081 shares, compared to its average volume of 1,061,876. The company has a market cap of $199.65 million, a P/E ratio of 8.31 and a beta of 1.04. The business's 50 day moving average price is $2.35 and its two-hundred day moving average price is $3.39. Ceragon Networks has a fifty-two week low of $1.95 and a fifty-two week high of $5.73.

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.