Cambium Networks Co. (NASDAQ:CMBM – Get Free Report) saw a large drop in short interest in the month of June. As of June 30th, there was short interest totalling 495,300 shares, a drop of 9.8% from the June 15th total of 549,200 shares. Currently, 4.0% of the shares of the company are short sold. Based on an average trading volume of 135,100 shares, the short-interest ratio is presently 3.7 days.
Cambium Networks Price Performance
NASDAQ CMBM traded down $0.03 during trading hours on Wednesday, reaching $2.05. The company’s stock had a trading volume of 56,541 shares, compared to its average volume of 123,195. Cambium Networks has a 1 year low of $1.76 and a 1 year high of $16.56. The company has a quick ratio of 1.33, a current ratio of 1.97 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $57.20 million, a price-to-earnings ratio of -0.60 and a beta of 0.95. The firm’s 50-day moving average price is $2.95 and its 200-day moving average price is $3.85.
Cambium Networks (NASDAQ:CMBM – Get Free Report) last released its earnings results on Thursday, May 9th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.21). Cambium Networks had a negative return on equity of 56.10% and a negative net margin of 50.94%. The company had revenue of $42.34 million during the quarter, compared to analysts’ expectations of $45.57 million. On average, equities research analysts predict that Cambium Networks will post -0.94 EPS for the current fiscal year.
Analyst Ratings Changes
Read Our Latest Report on Cambium Networks
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Federated Hermes Inc. raised its stake in Cambium Networks by 450.7% during the fourth quarter. Federated Hermes Inc. now owns 220,290 shares of the company’s stock valued at $1,322,000 after purchasing an additional 180,290 shares in the last quarter. New York State Common Retirement Fund raised its position in shares of Cambium Networks by 78.2% during the 4th quarter. New York State Common Retirement Fund now owns 69,750 shares of the company’s stock valued at $419,000 after buying an additional 30,603 shares in the last quarter. Merlin Capital Inc lifted its holdings in shares of Cambium Networks by 78.2% in the 4th quarter. Merlin Capital Inc now owns 22,480 shares of the company’s stock valued at $135,000 after acquiring an additional 9,865 shares during the last quarter. Bridge City Capital LLC lifted its holdings 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 valued at $1,156,000 after acquiring an additional 7,605 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Cambium Networks by 0.8% in the first quarter. Vanguard Group Inc. now owns 798,373 shares of the company’s stock worth $3,441,000 after acquiring an additional 6,125 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.
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.
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