Cambium Networks Corporation (NASDAQ:CMBM)’s stock price traded up 10% during mid-day trading on Monday . The company traded as high as $15.73 and last traded at $15.35. 214,353 shares traded hands during mid-day trading, an increase of 252% from the average session volume of 60,900 shares. The stock had previously closed at $13.95.
A number of analysts have issued reports on the company. Raymond James raised their price target on Cambium Networks from $9.00 to $14.50 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Oppenheimer raised their price target on Cambium Networks from $8.00 to $15.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. ValuEngine lowered Cambium Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, July 8th. JPMorgan Chase & Co. raised shares of Cambium Networks from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $7.00 to $9.00 in a research report on Tuesday, June 16th. Finally, Zacks Investment Research raised shares of Cambium Networks from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Friday, August 7th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Cambium Networks has an average rating of “Buy” and an average price target of $13.70.
The firm has a market cap of $394.29 million, a P/E ratio of 108.94, a PEG ratio of 2.53 and a beta of 1.15. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.92 and a quick ratio of 1.46. The company’s 50-day moving average is $13.16 and its two-hundred day moving average is $7.99.
Cambium Networks (NASDAQ:CMBM) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.03 by $0.13. Cambium Networks had a net margin of 1.34% and a return on equity of 16.65%. On average, analysts expect that Cambium Networks Corporation will post 0.3 EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the company. Needham Investment Management LLC grew its position in shares of Cambium Networks by 63.4% in the first quarter. Needham Investment Management LLC now owns 821,100 shares of the company’s stock valued at $4,599,000 after purchasing an additional 318,612 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Cambium Networks by 51.3% in the 1st quarter. JPMorgan Chase & Co. now owns 756,734 shares of the company’s stock worth $4,237,000 after buying an additional 256,725 shares in the last quarter. BlackRock Inc. grew its position in Cambium Networks by 26.0% in the first quarter. BlackRock Inc. now owns 221,021 shares of the company’s stock worth $1,237,000 after acquiring an additional 45,566 shares in the last quarter. State Street Corp boosted its holdings in shares of Cambium Networks by 17.8% in the 1st quarter. State Street Corp now owns 44,613 shares of the company’s stock worth $250,000 after purchasing an additional 6,749 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of Cambium Networks by 33.3% during the 1st quarter. Federated Hermes Inc. now owns 40,000 shares of the company’s stock valued at $224,000 after buying an additional 10,000 shares in the last quarter. 13.26% of the stock is owned by hedge funds and other institutional investors.
Cambium Networks Company Profile (NASDAQ:CMBM)
Cambium Networks Corporation, through its subsidiaries, provides wireless broadband networking infrastructure products and solutions for network operators. Its wireless fabric includes intelligent radios, smart antennas, RF algorithms, wireless-aware switches, and network management software. The company offers point-to-point solutions that are connected to high-speed, high-bandwidth wireline networks; and wireless broadband backhaul to facilities or point-to-multipoint access points deployed throughout a network over distances of approximately 100 kilometers and at two gigabytes per second.
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