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

Cambium Networks Co. (NASDAQ:CMBM) has been assigned an average recommendation of “Hold” from the six analysts that are currently covering the firm, Marketbeat reports. One equities research 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.

Several research firms have commented on CMBM. Northland Securities lowered their price objective 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. 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 report on Friday, August 9th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Cambium Networks during the 2nd quarter valued at approximately $52,000. Cubist Systematic Strategies LLC purchased a new position in shares of Cambium Networks during the 2nd quarter valued at approximately $187,000. Paradigm Capital Management Inc. NY lifted its position in shares of Cambium Networks by 29.5% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 2,756,400 shares of the company’s stock valued at $7,690,000 after buying an additional 627,453 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Cambium Networks by 13.5% during 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 in the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Cambium Networks during the 1st quarter valued at approximately $73,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cambium Networks Price Performance

Shares of NASDAQ:CMBM opened at $1.73 on Friday. Cambium Networks has a twelve month low of $1.52 and a twelve month high of $9.47. The company’s 50 day moving average is $2.06 and its 200 day moving average is $3.21. The company has a current ratio of 1.97, a quick ratio of 1.33 and a debt-to-equity ratio of 1.08. The company has a market cap of $48.26 million, a PE ratio of -0.51 and a beta of 0.95.

Cambium Networks (NASDAQ:CMBM) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.03). Cambium Networks had a negative return on equity of 56.10% and a negative net margin of 50.94%. The business had revenue of $45.95 million during the quarter, compared to analyst estimates of $45.92 million. On average, sell-side analysts forecast that Cambium Networks will post -0.94 EPS 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.