Federated Hermes Inc. Acquires 180,290 Shares of Cambium Networks Co. (NASDAQ:CMBM)

Federated Hermes Inc. grew its holdings in Cambium Networks Co. (NASDAQ:CMBM) by 450.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 220,290 shares of the company’s stock after acquiring an additional 180,290 shares during the period. Federated Hermes Inc.’s holdings in Cambium Networks were worth $1,322,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quantbot Technologies LP acquired a new position in Cambium Networks in the third quarter worth about $63,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Cambium Networks in the 3rd quarter worth approximately $91,000. Merlin Capital Inc bought a new position in shares of Cambium Networks during the 3rd quarter worth approximately $92,000. Barclays PLC boosted its stake in Cambium Networks by 77.8% in the 3rd quarter. Barclays PLC now owns 23,814 shares of the company’s stock valued at $175,000 after buying an additional 10,420 shares in the last quarter. Finally, Quadrature Capital Ltd grew its position in Cambium Networks by 54.2% in the third quarter. Quadrature Capital Ltd now owns 34,357 shares of the company’s stock valued at $253,000 after acquiring an additional 12,072 shares during the period. 87.17% of the stock is owned by institutional investors.

Cambium Networks Trading Up 2.8 %

Shares of CMBM opened at $3.66 on Tuesday. The stock has a fifty day moving average price of $4.12 and a two-hundred day moving average price of $4.50. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.99 and a current ratio of 1.69. The company has a market cap of $102.08 million, a price-to-earnings ratio of -1.58 and a beta of 0.94. Cambium Networks Co. has a 52-week low of $2.92 and a 52-week high of $18.09.

Cambium Networks (NASDAQ:CMBM) last issued its quarterly earnings results on Thursday, February 15th. The company reported ($1.03) earnings per share (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 company had revenue of $40.21 million for the quarter, compared to analyst estimates of $41.82 million. Analysts predict that Cambium Networks Co. will post -0.66 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Raymond James lifted their price objective on Cambium Networks from $5.25 to $5.50 and gave the company an “outperform” rating in a report on Friday, February 16th. 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 to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $11.04.

Cambium Networks 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.