Cambium Networks Co. (NASDAQ:CMBM) Short Interest Down 9.8% in June

Cambium Networks Co. (NASDAQ:CMBM) 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) 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

Separately, Roth Mkm reduced their price objective on shares of Cambium Networks from $9.75 to $8.50 and set a “buy” rating for the company in a research note on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $10.33.

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.