Cambium Networks Co. (NASDAQ:CMBM) Short Interest Up 11.1% in November

Cambium Networks Co. (NASDAQ:CMBM) saw a large growth in short interest in November. As of November 30th, there was short interest totalling 570,300 shares, a growth of 11.1% from the November 15th total of 513,100 shares. Currently, 4.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 82,200 shares, the days-to-cover ratio is currently 6.9 days.

Cambium Networks Stock Performance

Shares of NASDAQ:CMBM traded down $0.02 during trading hours on Monday, hitting $0.78. 259,663 shares of the company’s stock traded hands, compared to its average volume of 107,680. The company’s fifty day simple moving average is $1.22 and its two-hundred day simple moving average is $1.82. Cambium Networks has a 52 week low of $0.77 and a 52 week high of $6.50. The company has a market cap of $22.03 million, a price-to-earnings ratio of -0.26 and a beta of 0.98.

Institutional Trading of Cambium Networks

A number of large investors have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Cambium Networks during the 2nd quarter valued at $52,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Cambium Networks during the second quarter worth $187,000. GSA Capital Partners LLP lifted its holdings in shares of Cambium Networks by 266.4% during the third quarter. GSA Capital Partners LLP now owns 205,369 shares of the company’s stock valued at $376,000 after purchasing an additional 149,326 shares during the last quarter. RBF Capital LLC boosted its position in shares of Cambium Networks by 28.5% in the 3rd quarter. RBF Capital LLC now owns 217,006 shares of the company’s stock valued at $397,000 after purchasing an additional 48,077 shares during the period. Finally, Federated Hermes Inc. increased its stake in Cambium Networks by 13.5% in the 2nd quarter. Federated Hermes Inc. now owns 305,164 shares of the company’s stock worth $851,000 after purchasing an additional 36,270 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Northland Securities decreased their price objective on shares of Cambium Networks from $5.00 to $3.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th.

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.