Cambium Networks (NASDAQ:CMBM) Trading 8.8% Higher – Here’s What Happened

Shares of Cambium Networks Corporation (NASDAQ:CMBM) were up 8.8% during mid-day trading on Monday . The company traded as high as $1.43 and last traded at $1.36. Approximately 278,475 shares changed hands during mid-day trading, an increase of 105% from the average daily volume of 136,172 shares. The stock had previously closed at $1.25.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CMBM shares. Wall Street Zen upgraded Cambium Networks to a “hold” rating in a research report on Saturday, November 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cambium Networks in a research report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Cambium Networks Trading Up 8.8%

The firm has a 50 day moving average price of $1.40 and a 200 day moving average price of $1.44. The stock has a market capitalization of $38.41 million, a PE ratio of -0.65 and a beta of 1.99.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC purchased a new position in shares of Cambium Networks during the 4th quarter valued at about $55,000. XTX Topco Ltd increased its holdings in Cambium Networks by 38.1% in the 4th quarter. XTX Topco Ltd now owns 32,810 shares of the company’s stock worth $47,000 after acquiring an additional 9,056 shares in the last quarter. State Street Corp increased its holdings in Cambium Networks by 51.8% in the 4th quarter. State Street Corp now owns 60,390 shares of the company’s stock worth $87,000 after acquiring an additional 20,600 shares in the last quarter. Thompson Davis & CO. Inc. bought a new stake in Cambium Networks during the 4th quarter worth approximately $29,000. Finally, GSA Capital Partners LLP raised its stake in Cambium Networks by 11.2% during the 3rd quarter. GSA Capital Partners LLP now owns 182,737 shares of the company’s stock worth $163,000 after acquiring an additional 18,428 shares during the period. Institutional investors own 87.17% of the company’s stock.

Cambium Networks Company Profile

Cambium Networks Corporation, founded in 2011 as a spin-out from Motorola Solutions and headquartered in Rolling Meadows, Illinois, is a global provider of wireless broadband infrastructure. The company designs and delivers fixed wireless networking solutions that enable high-capacity connectivity for service providers, enterprises, and government agencies. Cambium’s technology portfolio focuses on reliable, scalable links in challenging environments, offering alternatives to fiber and traditional wired networks.

The company’s core offerings include point-to-point (PTP) and point-to-multipoint (PTMP) wireless backhaul products that deliver gigabit-class throughput over distances up to tens of kilometers.