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

Cambium Networks Co. (NASDAQ:CMBM) was the target of a significant growth in short interest in October. As of October 15th, there was short interest totalling 380,600 shares, a growth of 8.5% from the September 30th total of 350,700 shares. Based on an average daily trading volume, of 77,100 shares, the days-to-cover ratio is presently 4.9 days. Approximately 3.0% of the shares of the stock are sold short.

Cambium Networks Price Performance

Shares of CMBM traded up $0.03 during trading hours on Wednesday, hitting $1.28. 126,665 shares of the stock were exchanged, compared to its average volume of 109,005. The stock’s 50-day moving average price is $1.61 and its two-hundred day moving average price is $2.40. Cambium Networks has a 12-month low of $1.08 and a 12-month high of $6.50. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.37 and a current ratio of 1.93. The company has a market cap of $36.11 million, a price-to-earnings ratio of -0.34 and a beta of 0.93.

Cambium Networks (NASDAQ:CMBM) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.03). Cambium Networks had a negative return on equity of 83.80% and a negative net margin of 58.76%. The business had revenue of $45.95 million for the quarter, compared to analyst estimates of $45.92 million. Research analysts expect that Cambium Networks will post -1.3 earnings per share for the current year.

Institutional Trading of Cambium Networks

Several large investors have recently added to or reduced their stakes in CMBM. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Cambium Networks in the 2nd quarter valued at approximately $52,000. Virtu Financial LLC acquired a new stake in shares of Cambium Networks in the first quarter valued at $73,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Cambium Networks in the 2nd quarter valued at $187,000. Federated Hermes Inc. lifted its stake in Cambium Networks by 13.5% during the 2nd quarter. Federated Hermes Inc. now owns 305,164 shares of the company’s stock worth $851,000 after acquiring an additional 36,270 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in Cambium Networks by 60.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 290,828 shares of the company’s stock valued at $1,253,000 after acquiring an additional 109,837 shares in the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CMBM shares. Northland Securities dropped their price target on shares of Cambium Networks from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Roth Mkm dropped their target price on shares of Cambium Networks from $8.50 to $8.00 and set a “buy” rating on the stock in a research report on Friday, August 9th.

Cambium Networks Company Profile

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.