Cambium Networks Co. (NASDAQ:CMBM – Get Free Report) has been assigned a consensus rating of “Hold” from the six brokerages that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $11.00.
A number of equities analysts have commented on the stock. Raymond James dropped their target price on shares of Cambium Networks from $5.50 to $5.25 and set an “outperform” rating on the stock in a research note on Friday, January 19th. JPMorgan Chase & Co. dropped their target price on shares of Cambium Networks from $12.00 to $6.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 10th. TheStreet downgraded shares of Cambium Networks from a “c-” rating to a “d” rating in a research note on Thursday, November 2nd. Finally, Roth Mkm increased their price objective on shares of Cambium Networks from $12.50 to $12.75 and gave the company a “buy” rating in a research note on Friday, November 3rd.
Cambium Networks Price Performance
Insider Activity at Cambium Networks
In other news, Director Kevin J. Lynch bought 15,569 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was bought at an average price of $4.03 per share, with a total value of $62,743.07. Following the completion of the transaction, the director now directly owns 20,069 shares of the company’s stock, valued at approximately $80,878.07. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought 17,569 shares of company stock valued at $72,093 over the last 90 days. Insiders own 57.80% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in CMBM. Millennium Management LLC purchased a new position in shares of Cambium Networks during the fourth quarter worth $8,357,000. Select Equity Group L.P. purchased a new position in shares of Cambium Networks during the first quarter worth $5,183,000. Federated Hermes Inc. raised its holdings in shares of Cambium Networks by 450.7% during the fourth quarter. Federated Hermes Inc. now owns 220,290 shares of the company’s stock worth $1,322,000 after purchasing an additional 180,290 shares during the last quarter. Paradigm Capital Management Inc. NY purchased a new position in shares of Cambium Networks during the third quarter worth $1,043,000. Finally, Skylands Capital LLC raised its holdings in shares of Cambium Networks by 126.4% during the third quarter. Skylands Capital LLC now owns 245,350 shares of the company’s stock worth $1,798,000 after purchasing an additional 137,000 shares during the last quarter. Hedge funds and other institutional investors own 88.37% of the company’s stock.
Cambium Networks Company Profile
Cambium Networks Corporation, together with its subsidiaries, designs, develops, and manufactures 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 access points which support cnMaestro and Xirrus XMS management.
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