Cambium Networks Co. (NASDAQ:CMBM) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Cambium Networks Co. (NASDAQ:CMBM) have earned an average recommendation of “Hold” from the six ratings firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $10.33.

Separately, Roth Mkm decreased their price objective on shares of Cambium Networks from $9.75 to $8.50 and set a “buy” rating for the company in a research note on Friday, May 10th.

Cambium Networks Stock Down 9.5 %

Shares of NASDAQ:CMBM opened at $2.01 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.33 and a debt-to-equity ratio of 1.08. Cambium Networks has a 12 month low of $1.76 and a 12 month high of $16.56. The company has a 50-day moving average price of $3.07 and a 200 day moving average price of $3.95. The company has a market cap of $56.08 million, a price-to-earnings ratio of -0.59 and a beta of 0.95.

Cambium Networks (NASDAQ:CMBM) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.21). Cambium Networks had a negative net margin of 50.94% and a negative return on equity of 56.10%. The business had revenue of $42.34 million during the quarter, compared to the consensus estimate of $45.57 million. As a group, equities research analysts predict that Cambium Networks will post -0.94 earnings per share for the current year.

Hedge Funds Weigh In On Cambium Networks

A number of institutional investors have recently modified their holdings of CMBM. Virtu Financial LLC purchased a new position in Cambium Networks during the first quarter valued at approximately $73,000. Merlin Capital Inc boosted its stake in Cambium Networks by 78.2% in the fourth quarter. Merlin Capital Inc now owns 22,480 shares of the company’s stock valued at $135,000 after acquiring an additional 9,865 shares in the last quarter. Quadrature Capital Ltd boosted its stake in Cambium Networks by 54.2% in the third quarter. Quadrature Capital Ltd now owns 34,357 shares of the company’s stock valued at $253,000 after acquiring an additional 12,072 shares in the last quarter. Federated Hermes Inc. boosted its stake in Cambium Networks by 33.1% in the third quarter. Federated Hermes Inc. now owns 40,000 shares of the company’s stock valued at $293,000 after acquiring an additional 9,939 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its stake in Cambium Networks by 78.2% in the fourth quarter. New York State Common Retirement Fund now owns 69,750 shares of the company’s stock valued at $419,000 after acquiring an additional 30,603 shares in the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

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.