Short Interest in Cambium Networks Co. (NASDAQ:CMBM) Grows By 8.5%

Cambium Networks Co. (NASDAQ:CMBM) saw a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 380,600 shares, a growth of 8.5% from the September 30th total of 350,700 shares. Approximately 3.0% of the company’s stock are sold short. Based on an average daily trading volume, of 77,100 shares, the short-interest ratio is presently 4.9 days.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Roth Mkm dropped their price target on shares of Cambium Networks from $8.50 to $8.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Northland Securities lowered their target price on Cambium Networks from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Friday, August 9th.

Cambium Networks Stock Up 2.4 %

Shares of CMBM traded up $0.03 during midday trading on Wednesday, reaching $1.28. The stock had a trading volume of 126,665 shares, compared to its average volume of 109,005. The company has a market cap of $36.11 million, a price-to-earnings ratio of -0.34 and a beta of 0.93. The company’s fifty day simple moving average is $1.61 and its two-hundred day simple moving average is $2.40. Cambium Networks has a 1-year low of $1.08 and a 1-year high of $6.50. 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 posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.03). The business had revenue of $45.95 million during the quarter, compared to analyst estimates of $45.92 million. Cambium Networks had a negative net margin of 58.76% and a negative return on equity of 83.80%. Equities research analysts expect that Cambium Networks will post -1.3 earnings per share for the current year.

Institutional Investors Weigh In On Cambium Networks

Several institutional investors have recently added to or reduced their stakes in CMBM. Paradigm Capital Management Inc. NY raised its holdings in Cambium Networks by 29.5% during the second quarter. Paradigm Capital Management Inc. NY now owns 2,756,400 shares of the company’s stock worth $7,690,000 after purchasing an additional 627,453 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Cambium Networks by 60.7% during the 1st 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 in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Cambium Networks in the second quarter valued at $187,000. Connors Investor Services Inc. boosted its stake in Cambium Networks by 13.5% in the first quarter. Connors Investor Services Inc. now owns 338,007 shares of the company’s stock valued at $1,457,000 after acquiring an additional 40,179 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of Cambium Networks by 13.5% during the second quarter. Federated Hermes Inc. now owns 305,164 shares of the company’s stock worth $851,000 after purchasing an additional 36,270 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

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.