Cambium Networks Co. (NASDAQ:CMBM) Sees Large Drop in Short Interest

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

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. State of Wyoming acquired a new stake in shares of Cambium Networks during the second quarter worth $27,000. Quantbot Technologies LP bought a new position in Cambium Networks during the second quarter worth about $38,000. Tower Research Capital LLC TRC raised its stake in Cambium Networks by 303.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the company’s stock worth $44,000 after purchasing an additional 1,956 shares in the last quarter. Legal & General Group Plc boosted its holdings in Cambium Networks by 22.1% in the 2nd quarter. Legal & General Group Plc now owns 4,099 shares of the company’s stock valued at $60,000 after purchasing an additional 741 shares during the period. Finally, UBS Group AG grew its position in shares of Cambium Networks by 493.9% during the 4th quarter. UBS Group AG now owns 2,910 shares of the company’s stock worth $63,000 after purchasing an additional 2,420 shares in the last quarter. 87.17% of the stock is owned by institutional investors.

Cambium Networks Stock Down 0.8 %

Cambium Networks stock opened at $3.91 on Wednesday. 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’s 50-day moving average is $4.31 and its 200-day moving average is $4.70. The firm has a market capitalization of $108.93 million, a PE ratio of -1.69 and a beta of 0.94. Cambium Networks has a fifty-two week low of $3.53 and a fifty-two week high of $18.09.

Cambium Networks (NASDAQ:CMBM) last posted its earnings results on Thursday, February 15th. The company reported ($1.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.59). The business had revenue of $40.21 million for the quarter, compared to analyst estimates of $41.82 million. Cambium Networks had a negative return on equity of 30.83% and a negative net margin of 28.87%. Sell-side analysts anticipate that Cambium Networks will post -0.66 earnings per share for the current year.

About Cambium Networks

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.