Cambium Networks Co. (NASDAQ:CMBM) Receives $6.13 Average Price Target from Brokerages

Shares of Cambium Networks Co. (NASDAQ:CMBM) have been given a consensus recommendation of “Hold” by the six brokerages that are currently covering the company, 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 target price among analysts that have issued ratings on the stock in the last year is $6.13.

A number of brokerages have commented on CMBM. Roth Mkm decreased their price objective on shares of Cambium Networks from $8.50 to $8.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Northland Securities decreased their price target on shares of Cambium Networks from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th.

Institutional Investors Weigh In On Cambium Networks

Hedge funds and other institutional investors have recently made changes to their positions in the company. Virtu Financial LLC acquired a new stake in shares of Cambium Networks in the 1st quarter valued at $73,000. Federated Hermes Inc. increased its stake in shares of 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 buying an additional 36,270 shares during the period. Vanguard Group Inc. increased its stake 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 valued at $3,441,000 after buying an additional 6,125 shares during the period. Bridge City Capital LLC boosted its position in shares of Cambium Networks by 2.9% in the 1st quarter. Bridge City Capital LLC now owns 268,231 shares of the company’s stock worth $1,156,000 after purchasing an additional 7,605 shares during the last quarter. Finally, Connors Investor Services Inc. boosted its position in shares of Cambium Networks by 13.5% in the 1st 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 during the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Cambium Networks Stock Performance

NASDAQ:CMBM opened at $1.69 on Thursday. The stock has a market capitalization of $47.67 million, a P/E ratio of -0.50 and a beta of 0.93. Cambium Networks has a 1 year low of $1.52 and a 1 year high of $7.95. The firm has a 50 day moving average of $1.82 and a 200-day moving average of $2.88. The company has a current ratio of 1.93, a quick ratio of 1.37 and a debt-to-equity ratio of 1.29.

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

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.