Ceragon Networks Ltd (NASDAQ:CRNT) saw a large decline in short interest in December. As of December 15th, there was short interest totalling 336,529 shares, a decline of 34.3% from the November 30th total of 512,204 shares. Approximately 0.5% of the shares of the stock are sold short. Based on an average daily volume of 865,919 shares, the short-interest ratio is currently 0.4 days.
Several equities research analysts have commented on CRNT shares. Zacks Investment Research lowered shares of Ceragon Networks from a “hold” rating to a “sell” rating in a research report on Wednesday, November 8th. Jefferies Group restated a “hold” rating and set a $2.50 target price on shares of Ceragon Networks in a research report on Sunday, October 8th. Finally, ValuEngine upgraded shares of Ceragon Networks from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $2.50.
Shares of Ceragon Networks (CRNT) opened at $2.11 on Friday. Ceragon Networks has a 1 year low of $1.64 and a 1 year high of $4.23. The company has a market cap of $163.67, a price-to-earnings ratio of 10.05 and a beta of 1.05.
Institutional investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. purchased a new stake in shares of Ceragon Networks in the 3rd quarter worth about $743,000. Menta Capital LLC purchased a new stake in shares of Ceragon Networks in the 2nd quarter worth about $408,000. Vanguard Group Inc. boosted its position in shares of Ceragon Networks by 5.0% in the 2nd quarter. Vanguard Group Inc. now owns 1,177,300 shares of the communications equipment provider’s stock worth $3,002,000 after buying an additional 55,702 shares in the last quarter. BT Investment Management Ltd purchased a new stake in shares of Ceragon Networks in the 2nd quarter worth about $506,000. Finally, Algert Global LLC boosted its position in shares of Ceragon Networks by 44.8% in the 3rd quarter. Algert Global LLC now owns 747,633 shares of the communications equipment provider’s stock worth $1,555,000 after buying an additional 231,314 shares in the last quarter. Institutional investors and hedge funds own 16.09% of the company’s stock.
Ceragon Networks Company Profile
Ceragon Networks Ltd. offers wireless backhaul solutions. The Company’s products include FibeAir IP-20 Platform, FibeAir IP-20 Assured Platform and Network Management. The Company provides its services to wireless service providers, public safety organizations, government agencies and utility companies, among others.
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