Brokerages Set Cambium Networks Co. (NASDAQ:CMBM) PT at $6.13

Shares of Cambium Networks Co. (NASDAQ:CMBM) have been given a consensus rating of “Hold” by the six ratings firms that are presently covering the firm, Marketbeat.com reports. One equities 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 company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $6.13.

Several equities research analysts have recently issued reports on the company. Roth Mkm lowered their price target 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 lowered their price target on Cambium Networks from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th.

Cambium Networks Trading Down 2.3 %

Cambium Networks stock opened at $1.69 on Thursday. The company has a market capitalization of $47.67 million, a price-to-earnings ratio of -0.50 and a beta of 0.93. The company’s fifty day moving average price is $1.82 and its two-hundred day moving average price is $2.88. Cambium Networks has a one year low of $1.52 and a one year high of $7.95. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.93 and a quick ratio of 1.37.

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

Institutional Investors Weigh In On Cambium Networks

Several hedge funds have recently made changes to their positions in CMBM. Point72 Asia Singapore Pte. Ltd. bought a new position in Cambium Networks during the second quarter worth about $52,000. Virtu Financial LLC bought a new position in Cambium Networks during the first quarter worth about $73,000. Cubist Systematic Strategies LLC bought a new position in Cambium Networks during the second quarter worth about $187,000. Federated Hermes Inc. lifted its stake in Cambium Networks by 13.5% during the second quarter. Federated Hermes Inc. now owns 305,164 shares of the company’s stock worth $851,000 after purchasing an additional 36,270 shares during the period. Finally, Bridge City Capital LLC lifted its stake in Cambium Networks by 2.9% during the first quarter. Bridge City Capital LLC now owns 268,231 shares of the company’s stock worth $1,156,000 after purchasing an additional 7,605 shares during the period. Institutional investors own 87.17% of the company’s stock.

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.