Short Interest in Cambium Networks Co. (NASDAQ:CMBM) Grows By 23.9%

Cambium Networks Co. (NASDAQ:CMBM) saw a significant growth in short interest in October. As of October 31st, there was short interest totalling 471,400 shares, a growth of 23.9% from the October 15th total of 380,600 shares. Currently, 3.7% of the company’s shares are sold short. Based on an average daily trading volume, of 80,700 shares, the days-to-cover ratio is currently 5.8 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Paradigm Capital Management Inc. NY lifted its holdings in Cambium Networks by 29.5% in the second quarter. Paradigm Capital Management Inc. NY now owns 2,756,400 shares of the company’s stock valued at $7,690,000 after acquiring an additional 627,453 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Cambium Networks by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 798,373 shares of the company’s stock worth $3,441,000 after purchasing an additional 6,125 shares during the period. Connors Investor Services Inc. grew its holdings in Cambium Networks by 13.5% during the 1st quarter. Connors Investor Services Inc. now owns 338,007 shares of the company’s stock valued at $1,457,000 after purchasing an additional 40,179 shares during the last quarter. Federated Hermes Inc. grew its position in Cambium Networks by 13.5% in the 2nd quarter. Federated Hermes Inc. now owns 305,164 shares of the company’s stock valued at $851,000 after acquiring an additional 36,270 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Cambium Networks by 60.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 290,828 shares of the company’s stock worth $1,253,000 after acquiring an additional 109,837 shares during the period. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cambium Networks Stock Down 3.3 %

Cambium Networks stock traded down $0.04 during trading on Friday, hitting $1.16. The stock had a trading volume of 59,876 shares, compared to its average volume of 90,188. Cambium Networks has a 1 year low of $1.08 and a 1 year high of $6.50. The stock’s 50 day moving average is $1.49 and its two-hundred day moving average is $2.20. The stock has a market cap of $32.76 million, a price-to-earnings ratio of -0.38 and a beta of 0.97.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Northland Securities decreased their price objective on shares of Cambium Networks from $5.00 to $3.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Roth Mkm cut their price objective on shares of Cambium Networks from $8.50 to $8.00 and set a “buy” rating on the stock in a research report on Friday, August 9th.

Cambium Networks Company Profile

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.