Cambium Networks (NASDAQ:CMBM) Shares Down 5% – Here’s What Happened

Shares of Cambium Networks Corporation (NASDAQ:CMBM) traded down 5% on Wednesday . The stock traded as low as $1.31 and last traded at $1.33. 101,292 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 297,408 shares. The stock had previously closed at $1.40.

Analyst Ratings Changes

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

Cambium Networks Trading Down 5.0%

The company has a market cap of $37.56 million, a PE ratio of -0.63 and a beta of 1.98. The firm has a fifty day moving average of $1.58 and a two-hundred day moving average of $1.37.

Institutional Investors Weigh In On Cambium Networks

Institutional investors have recently made changes to their positions in the stock. Jones Financial Companies Lllp purchased a new position in shares of Cambium Networks in the first quarter valued at $26,000. Thompson Davis & CO. Inc. bought a new position in Cambium Networks in the 4th quarter worth about $29,000. Finally, GSA Capital Partners LLP grew its holdings in Cambium Networks by 11.2% during the 3rd quarter. GSA Capital Partners LLP now owns 182,737 shares of the company’s stock valued at $163,000 after buying an additional 18,428 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

About Cambium Networks

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.