Cambium Networks Co. (NASDAQ:CMBM) Short Interest Update

Cambium Networks Co. (NASDAQ:CMBMGet Free Report) saw a large decrease in short interest in March. As of March 31st, there was short interest totalling 532,600 shares, a decrease of 10.8% from the March 15th total of 597,100 shares. Based on an average daily volume of 110,200 shares, the days-to-cover ratio is currently 4.8 days. Approximately 4.4% of the company’s stock are short sold.

Cambium Networks Stock Down 1.7 %

Shares of NASDAQ CMBM opened at $4.11 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.69 and a quick ratio of 0.99. The company has a 50-day moving average price of $4.32 and a 200-day moving average price of $4.72. The stock has a market capitalization of $114.50 million, a P/E ratio of -1.78 and a beta of 0.94. Cambium Networks has a 1 year low of $3.53 and a 1 year high of $18.09.

Cambium Networks (NASDAQ:CMBMGet Free Report) last released its quarterly earnings results on Thursday, February 15th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.59). The company had revenue of $40.21 million for the quarter, compared to analyst estimates of $41.82 million. Cambium Networks had a negative net margin of 28.87% and a negative return on equity of 30.83%. On average, equities research analysts forecast that Cambium Networks will post -0.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Cambium Networks

A number of institutional investors and hedge funds have recently bought and sold shares of CMBM. Bank of America Corp DE raised its holdings in shares of Cambium Networks by 7.3% in the fourth quarter. Bank of America Corp DE now owns 8,626 shares of the company’s stock valued at $187,000 after purchasing an additional 586 shares during the last quarter. BNP Paribas Arbitrage SNC increased its stake in Cambium Networks by 19.3% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 4,266 shares of the company’s stock valued at $72,000 after buying an additional 690 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Cambium Networks by 22.1% during the 2nd quarter. Legal & General Group Plc now owns 4,099 shares of the company’s stock worth $60,000 after buying an additional 741 shares in the last quarter. State Street Corp boosted its stake in shares of Cambium Networks by 0.6% in the 3rd quarter. State Street Corp now owns 181,196 shares of the company’s stock worth $3,066,000 after buying an additional 996 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Cambium Networks by 2.7% in the first quarter. Deutsche Bank AG now owns 46,269 shares of the company’s stock valued at $820,000 after acquiring an additional 1,235 shares in the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Raymond James boosted their target price on Cambium Networks from $5.25 to $5.50 and gave the company an “outperform” rating in a research report on Friday, February 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $11.04.

Get Our Latest Stock Analysis on CMBM

Cambium Networks Company Profile

(Get Free Report)

Cambium Networks Corporation, together with its subsidiaries, engages in the design, development, and manufacture of wireless broadband and Wi-Fi networking infrastructure solutions. The company offers point-to-point fixed wireless backhaul and point-to-multipoint fixed wireless solutions; and enterprise solutions comprising cnMatrix cloud-managed wireless-aware switching solution, Xirrus Wi-Fi solutions, and Wi-Fi 6/6E access points which support cnMaestro and Xirrus XMS management.

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