Connors Investor Services Inc. Buys 40,179 Shares of Cambium Networks Co. (NASDAQ:CMBM)

Connors Investor Services Inc. grew its stake in Cambium Networks Co. (NASDAQ:CMBM) by 13.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 338,007 shares of the company’s stock after acquiring an additional 40,179 shares during the period. Connors Investor Services Inc. owned 1.21% of Cambium Networks worth $1,457,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CMBM. Federated Hermes Inc. boosted its stake in shares of Cambium Networks by 450.7% during the fourth 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 in the last quarter. New York State Common Retirement Fund boosted its stake in shares of Cambium Networks by 78.2% during the fourth quarter. New York State Common Retirement Fund now owns 69,750 shares of the company’s stock valued at $419,000 after purchasing an additional 30,603 shares in the last quarter. Merlin Capital Inc boosted its stake in shares of Cambium Networks by 78.2% during the fourth quarter. Merlin Capital Inc now owns 22,480 shares of the company’s stock valued at $135,000 after purchasing an additional 9,865 shares in the last quarter. Bridge City Capital LLC boosted its stake in shares of Cambium Networks by 2.9% during the first quarter. Bridge City Capital LLC now owns 268,231 shares of the company’s stock valued at $1,156,000 after purchasing an additional 7,605 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Cambium Networks by 0.8% during the first quarter. Vanguard Group Inc. now owns 798,373 shares of the company’s stock valued at $3,441,000 after purchasing an additional 6,125 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Roth Mkm dropped their price objective on shares of Cambium Networks from $9.75 to $8.50 and set a “buy” rating on the stock in a research note on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $10.33.

Cambium Networks Stock Performance

Shares of NASDAQ CMBM traded up $0.02 during midday trading on Friday, reaching $2.03. The company had a trading volume of 41,783 shares, compared to its average volume of 222,647. The business’s 50-day simple moving average is $2.88 and its 200 day simple moving average is $3.78. The stock has a market cap of $56.64 million, a P/E ratio of -0.60 and a beta of 0.95. Cambium Networks Co. has a 1 year low of $1.76 and a 1 year high of $16.56. 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 (NASDAQ:CMBM) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.21). The company had revenue of $42.34 million during the quarter, compared to analysts’ expectations of $45.57 million. Cambium Networks had a negative return on equity of 56.10% and a negative net margin of 50.94%. On average, analysts forecast that Cambium Networks Co. will post -0.94 earnings per share for the current fiscal 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.