Short Interest in Cambium Networks Co. (NASDAQ:CMBM) Decreases By 10.8%

Cambium Networks Co. (NASDAQ:CMBM) was the target of a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 532,600 shares, a drop of 10.8% from the March 15th total of 597,100 shares. Approximately 4.4% of the shares of the stock are sold short. Based on an average trading volume of 110,200 shares, the days-to-cover ratio is currently 4.8 days.

Wall Street Analysts Forecast Growth

Separately, Raymond James increased their price objective on shares of Cambium Networks from $5.25 to $5.50 and gave the company an “outperform” rating in a report on Friday, February 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Cambium Networks has a consensus rating of “Hold” and a consensus price target of $11.04.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Cambium Networks by 70.3% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 1,091,553 shares of the company’s stock valued at $6,549,000 after buying an additional 450,553 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of Cambium Networks in the 4th quarter worth $8,357,000. Select Equity Group L.P. purchased a new position in Cambium Networks during the 1st quarter worth $5,183,000. Federated Hermes Inc. increased its position in Cambium Networks by 450.7% during the 4th quarter. Federated Hermes Inc. now owns 220,290 shares of the company’s stock valued at $1,322,000 after buying an additional 180,290 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY acquired a new stake in Cambium Networks in the third quarter worth about $1,043,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cambium Networks Stock Down 1.7 %

Shares of CMBM opened at $4.11 on Monday. Cambium Networks has a 12-month low of $3.53 and a 12-month high of $18.09. The firm has a fifty day moving average price of $4.32 and a 200-day moving average price of $4.72. The firm has a market capitalization of $114.50 million, a P/E ratio of -1.78 and a beta of 0.94. The company has a current ratio of 1.69, a quick ratio of 0.99 and a debt-to-equity ratio of 0.27.

Cambium Networks (NASDAQ:CMBM) last released its quarterly earnings data on Thursday, February 15th. The company reported ($1.03) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.59). Cambium Networks had a negative return on equity of 30.83% and a negative net margin of 28.87%. The firm had revenue of $40.21 million for the quarter, compared to analysts’ expectations of $41.82 million. Equities research analysts expect that Cambium Networks will post -0.66 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.