Cambium Networks Co. (NASDAQ:CMBM) Receives $6.13 Average PT from Brokerages

Cambium Networks Co. (NASDAQ:CMBM) has earned an average recommendation of “Hold” from the six ratings firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $6.13.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in Cambium Networks by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 798,373 shares of the company’s stock valued at $3,441,000 after acquiring an additional 6,125 shares during the period. Bridge City Capital LLC lifted its holdings in Cambium Networks by 2.9% during the 1st quarter. Bridge City Capital LLC now owns 268,231 shares of the company’s stock worth $1,156,000 after buying an additional 7,605 shares during the period. Virtu Financial LLC bought a new stake in shares of Cambium Networks in the 1st quarter valued at about $73,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Cambium Networks during the second quarter worth about $52,000. Finally, Federated Hermes Inc. lifted its stake in shares of Cambium Networks by 13.5% in the second quarter. Federated Hermes Inc. now owns 305,164 shares of the company’s stock worth $851,000 after acquiring an additional 36,270 shares during the period. 87.17% of the stock is currently owned by institutional investors.

Cambium Networks Trading Down 2.8 %

Shares of NASDAQ:CMBM opened at $1.72 on Thursday. The company has a 50-day simple moving average of $1.83 and a 200 day simple moving average of $2.91. The company has a market capitalization of $47.98 million, a P/E ratio of -0.50 and a beta of 0.93. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.37 and a current ratio of 1.93. Cambium Networks has a 52-week low of $1.52 and a 52-week high of $7.95.

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

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.