Short Interest in Cambium Networks Co. (NASDAQ:CMBM) Grows By 123.3%

Cambium Networks Co. (NASDAQ:CMBM) was the recipient of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 284,500 shares, an increase of 123.3% from the August 15th total of 127,400 shares. Based on an average daily trading volume, of 126,700 shares, the short-interest ratio is presently 2.2 days. Currently, 2.3% of the shares of the stock are short sold.

Institutional Investors Weigh In On Cambium Networks

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Paradigm Capital Management Inc. NY raised its position in Cambium Networks by 29.5% in the 2nd 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 during the period. Vanguard Group Inc. lifted its stake in shares of Cambium Networks by 0.8% during the 1st 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 during the last quarter. Connors Investor Services Inc. boosted its holdings in Cambium Networks by 13.5% during the 1st 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 during the period. Federated Hermes Inc. grew its position in 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 acquiring an additional 36,270 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Cambium Networks by 60.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 290,828 shares of the company’s stock worth $1,253,000 after purchasing an additional 109,837 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CMBM. Northland Securities dropped their target price on shares of Cambium Networks from $7.00 to $5.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Roth Mkm reduced their target price on Cambium Networks from $8.50 to $8.00 and set a “buy” rating on the stock in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $6.13.

Cambium Networks Stock Up 1.7 %

Shares of NASDAQ:CMBM opened at $1.75 on Friday. The company has a 50-day moving average price of $1.86 and a 200 day moving average price of $3.03. 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 has a 12 month low of $1.52 and a 12 month high of $7.95. The company has a market cap of $48.82 million, a price-to-earnings ratio of -0.51 and a beta of 0.93.

Cambium Networks (NASDAQ:CMBM) last announced its earnings results on Thursday, August 8th. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.03). Cambium Networks had a negative return on equity of 83.80% and a negative net margin of 58.76%. The company had revenue of $45.95 million during the quarter, compared to analysts’ expectations of $45.92 million. As a group, equities research analysts predict that Cambium Networks will post -1.3 earnings per share 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.