Ceragon Networks Ltd. (NASDAQ:CRNT – Get Rating) was the target of a large increase in short interest in November. As of November 30th, there was short interest totalling 453,800 shares, an increase of 5.7% from the November 15th total of 429,300 shares. Currently, 0.6% of the company's stock are sold short. Based on an average daily volume of 252,600 shares, the days-to-cover ratio is currently 1.8 days.
Wall Street Analysts Forecast Growth
Separately, StockNews.com upgraded shares of Ceragon Networks from a "hold" rating to a "buy" rating in a research note on Thursday, November 10th.
Get Ceragon Networks alerts:Ceragon Networks Trading Down 1.6 %
CRNT traded down $0.03 on Friday, hitting $1.89. 2,961,678 shares of the company's stock were exchanged, compared to its average volume of 462,630. The firm has a market cap of $159.26 million, a PE ratio of -9.00 and a beta of 1.28. Ceragon Networks has a twelve month low of $1.53 and a twelve month high of $2.87. The stock has a fifty day moving average of $1.87 and a two-hundred day moving average of $2.11.
Ceragon Networks (NASDAQ:CRNT – Get Rating) last released its quarterly earnings data on Monday, November 7th. The communications equipment provider reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.05. The firm had revenue of $78.65 million for the quarter, compared to analyst estimates of $75.98 million. Ceragon Networks had a negative net margin of 5.68% and a negative return on equity of 4.25%. On average, analysts predict that Ceragon Networks will post -0.03 EPS for the current year.Institutional Investors Weigh In On Ceragon Networks
Institutional investors and hedge funds have recently bought and sold shares of the business. Jane Street Group LLC acquired a new stake in Ceragon Networks during the first quarter worth about $25,000. Dynamic Advisor Solutions LLC bought a new position in Ceragon Networks in the 3rd quarter worth about $27,000. Tower Research Capital LLC TRC grew its position in Ceragon Networks by 8,127.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 16,454 shares of the communications equipment provider's stock worth $30,000 after purchasing an additional 16,254 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Ceragon Networks by 30.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,029 shares of the communications equipment provider's stock worth $72,000 after purchasing an additional 9,005 shares during the last quarter. Finally, Alpha Paradigm Partners LLC grew its position in Ceragon Networks by 876.4% in the 3rd quarter. Alpha Paradigm Partners LLC now owns 82,997 shares of the communications equipment provider's stock worth $152,000 after purchasing an additional 74,497 shares during the last quarter. Institutional investors and hedge funds own 23.79% of the company's stock.
About Ceragon Networks
(Get Rating)
Ceragon Networks Ltd. provides wireless backhaul and fronthaul solutions that enable cellular operators and other wireless service providers. Its solutions use microwave and millimeter wave radio technology to transfer telecommunication traffic between base stations, small/distributed cells, and the core of the service provider's network.
Further Reading
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