Federated Hermes Inc. Purchases 36,270 Shares of Cambium Networks Co. (NASDAQ:CMBM)

Federated Hermes Inc. increased its position in shares of Cambium Networks Co. (NASDAQ:CMBM) by 13.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 305,164 shares of the company’s stock after purchasing an additional 36,270 shares during the period. Federated Hermes Inc. owned about 1.09% of Cambium Networks worth $851,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Virtu Financial LLC acquired a new stake in Cambium Networks during the first quarter worth $73,000. Bridge City Capital LLC boosted its position in shares of Cambium Networks by 2.9% during the 1st quarter. Bridge City Capital LLC now owns 268,231 shares of the company’s stock valued at $1,156,000 after acquiring an additional 7,605 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Cambium Networks by 60.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 290,828 shares of the company’s stock valued at $1,253,000 after acquiring an additional 109,837 shares during the period. Connors Investor Services Inc. raised its position in Cambium Networks by 13.5% in the first quarter. Connors Investor Services Inc. now owns 338,007 shares of the company’s stock worth $1,457,000 after purchasing an additional 40,179 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Cambium Networks by 0.8% during the first 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. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CMBM. Roth Mkm lowered their price objective on Cambium Networks from $8.50 to $8.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Northland Securities lowered their price target on Cambium Networks from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. One 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 stock. According to MarketBeat, Cambium Networks has an average rating of “Hold” and a consensus price target of $6.13.

Cambium Networks Stock Down 1.1 %

Shares of CMBM opened at $1.77 on Monday. The business’s 50 day simple moving average is $1.84 and its 200-day simple moving average is $2.93. Cambium Networks Co. has a one year low of $1.52 and a one year high of $7.95. The company has a market capitalization of $49.38 million, a P/E ratio of -0.52 and a beta of 0.93. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.93 and a quick ratio of 1.37.

Cambium Networks (NASDAQ:CMBM) last announced its earnings results on Thursday, August 8th. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.03). Cambium Networks had a negative return on equity of 83.80% and a negative net margin of 58.76%. The business had revenue of $45.95 million for the quarter, compared to the consensus estimate of $45.92 million. As a group, sell-side analysts predict that Cambium Networks Co. will post -1.3 EPS for the current fiscal 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.