Cambium Networks (NASDAQ:CMBM) Trading 1.2% Higher – Here’s What Happened

Shares of Cambium Networks Corporation (NASDAQ:CMBM) traded up 1.2% on Tuesday . The stock traded as high as $1.80 and last traded at $1.75. 660,731 shares changed hands during mid-day trading, an increase of 77% from the average session volume of 373,026 shares. The stock had previously closed at $1.73.

Wall Street Analysts Forecast Growth

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

Cambium Networks Stock Performance

The stock has a market cap of $49.42 million, a PE ratio of -0.83 and a beta of 1.87. The firm has a 50-day moving average price of $1.83 and a 200-day moving average price of $1.29.

Institutional Investors Weigh In On Cambium Networks

Several institutional investors and hedge funds have recently made changes to their positions in the company. Jones Financial Companies Lllp purchased a new position in Cambium Networks in the 1st quarter worth approximately $26,000. Thompson Davis & CO. Inc. bought a new stake in shares of Cambium Networks in the 4th quarter worth $29,000. Finally, GSA Capital Partners LLP increased its holdings in shares of Cambium Networks by 11.2% in the 3rd quarter. GSA Capital Partners LLP now owns 182,737 shares of the company’s stock worth $163,000 after purchasing an additional 18,428 shares in the last quarter. 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.