Cambium Networks Co. (NASDAQ:CMBM) Short Interest Update

Cambium Networks Co. (NASDAQ:CMBM) was the target of a significant growth in short interest during the month of August. As of August 15th, there was short interest totalling 127,400 shares, a growth of 76.7% from the July 31st total of 72,100 shares. Approximately 1.0% of the company’s shares are short sold. Based on an average trading volume of 132,200 shares, the days-to-cover ratio is presently 1.0 days.

Cambium Networks Stock Up 4.2 %

NASDAQ:CMBM traded up $0.07 on Wednesday, hitting $1.73. The stock had a trading volume of 31,347 shares, compared to its average volume of 118,823. The company has a market cap of $48.26 million, a PE ratio of -0.49 and a beta of 0.95. Cambium Networks has a 52 week low of $1.52 and a 52 week high of $9.47. The business’s fifty day moving average is $2.13 and its 200 day moving average is $3.26. The company has a quick ratio of 1.33, a current ratio of 1.97 and a debt-to-equity ratio of 1.08.

Institutional Trading of Cambium Networks

Several hedge funds have recently bought and sold shares of CMBM. Paradigm Capital Management Inc. NY raised its holdings in Cambium Networks by 29.5% during the second quarter. Paradigm Capital Management Inc. NY now owns 2,756,400 shares of the company’s stock worth $7,690,000 after buying an additional 627,453 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Cambium Networks by 0.8% during the first quarter. Vanguard Group Inc. now owns 798,373 shares of the company’s stock worth $3,441,000 after acquiring an additional 6,125 shares in the last quarter. Connors Investor Services Inc. raised its holdings in shares of Cambium Networks by 13.5% in the 1st quarter. Connors Investor Services Inc. now owns 338,007 shares of the company’s stock worth $1,457,000 after acquiring an additional 40,179 shares during the last quarter. Federated Hermes Inc. lifted its position in Cambium Networks by 13.5% in the 2nd quarter. Federated Hermes Inc. now owns 305,164 shares of the company’s stock valued at $851,000 after acquiring an additional 36,270 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in Cambium Networks by 60.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 290,828 shares of the company’s stock valued at $1,253,000 after purchasing an additional 109,837 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on CMBM. Roth Mkm cut their target price on Cambium Networks from $8.50 to $8.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Northland Securities cut their price target on Cambium Networks from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cambium Networks currently has a consensus rating of “Hold” and a consensus target price of $6.13.

About Cambium Networks

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.