Short Interest in Ceragon Networks Ltd. (NASDAQ:CRNT) Drops By 9.3%

Ceragon Networks Ltd. (NASDAQ:CRNTGet Rating) was the target of a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 581,700 shares, a decline of 9.3% from the August 15th total of 641,300 shares. Based on an average daily volume of 722,800 shares, the days-to-cover ratio is currently 0.8 days. Currently, 0.9% of the company’s shares are sold short.

Hedge Funds Weigh In On Ceragon Networks

A number of institutional investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Ceragon Networks by 57.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,595 shares of the communications equipment provider’s stock worth $65,000 after buying an additional 11,113 shares during the last quarter. GHP Investment Advisors Inc. grew its stake in shares of Ceragon Networks by 10.8% in the first quarter. GHP Investment Advisors Inc. now owns 298,335 shares of the communications equipment provider’s stock worth $635,000 after purchasing an additional 28,960 shares in the last quarter. ARK Investment Management LLC grew its stake in shares of Ceragon Networks by 23.1% in the first quarter. ARK Investment Management LLC now owns 1,113,434 shares of the communications equipment provider’s stock worth $2,372,000 after purchasing an additional 209,040 shares in the last quarter. Penserra Capital Management LLC grew its stake in shares of Ceragon Networks by 39.6% in the fourth quarter. Penserra Capital Management LLC now owns 2,414,344 shares of the communications equipment provider’s stock worth $6,229,000 after purchasing an additional 685,369 shares in the last quarter. Finally, GSA Capital Partners LLP grew its stake in shares of Ceragon Networks by 538.8% in the fourth quarter. GSA Capital Partners LLP now owns 67,166 shares of the communications equipment provider’s stock worth $173,000 after purchasing an additional 56,651 shares in the last quarter. 23.79% of the stock is owned by institutional investors and hedge funds.

Ceragon Networks Stock Performance

Ceragon Networks stock opened at $2.08 on Monday. The stock’s 50 day moving average price is $2.44 and its 200 day moving average price is $2.15. The firm has a market capitalization of $175.28 million, a PE ratio of -10.40 and a beta of 1.27. Ceragon Networks has a one year low of $1.53 and a one year high of $3.71.

Ceragon Networks (NASDAQ:CRNTGet Rating) last released its quarterly earnings results on Monday, August 1st. The communications equipment provider reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.02. Ceragon Networks had a negative return on equity of 6.05% and a negative net margin of 5.34%. During the same quarter last year, the firm posted ($0.02) EPS. On average, analysts forecast that Ceragon Networks will post -0.05 earnings per share for the current fiscal year.

About Ceragon Networks

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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.

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