Cambium Networks Co. (NASDAQ:CMBM) Short Interest Down 10.8% in March

Cambium Networks Co. (NASDAQ:CMBM) was the recipient of a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 532,600 shares, a drop of 10.8% from the March 15th total of 597,100 shares. Based on an average trading volume of 110,200 shares, the days-to-cover ratio is currently 4.8 days. Currently, 4.4% of the shares of the company are sold short.

Cambium Networks Stock Performance

NASDAQ CMBM opened at $3.91 on Wednesday. The company’s fifty day moving average is $4.31 and its two-hundred day moving average is $4.70. The firm has a market capitalization of $108.93 million, a price-to-earnings ratio of -1.69 and a beta of 0.94. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.69 and a quick ratio of 0.99. Cambium Networks has a 52-week low of $3.53 and a 52-week high of $18.09.

Cambium Networks (NASDAQ:CMBM) last released its earnings results on Thursday, February 15th. The company reported ($1.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.59). Cambium Networks had a negative return on equity of 30.83% and a negative net margin of 28.87%. The firm had revenue of $40.21 million for the quarter, compared to analyst estimates of $41.82 million. Equities research analysts forecast that Cambium Networks will post -0.66 EPS for the current year.

Institutional Investors Weigh In On Cambium Networks

Institutional investors have recently bought and sold shares of the business. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Cambium Networks by 70.3% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 1,091,553 shares of the company’s stock worth $6,549,000 after acquiring an additional 450,553 shares during the period. Millennium Management LLC bought a new position in Cambium Networks during the fourth quarter worth about $8,357,000. Select Equity Group L.P. acquired a new stake in Cambium Networks during the first quarter valued at approximately $5,183,000. Federated Hermes Inc. grew its stake in shares of Cambium Networks by 450.7% in the 4th quarter. Federated Hermes Inc. now owns 220,290 shares of the company’s stock valued at $1,322,000 after purchasing an additional 180,290 shares during the period. Finally, Paradigm Capital Management Inc. NY acquired a new position in shares of Cambium Networks in the 3rd quarter worth approximately $1,043,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Ratings Changes

Separately, Raymond James lifted their price objective on Cambium Networks from $5.25 to $5.50 and gave the stock an “outperform” rating in a research note on Friday, February 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $11.04.

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.