Needham Investment Management LLC Reduces Stock Position in Cambium Networks Co. (NASDAQ:CMBM)

Needham Investment Management LLC lessened its holdings in shares of Cambium Networks Co. (NASDAQ:CMBM) by 37.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 479,250 shares of the company’s stock after selling 288,000 shares during the period. Needham Investment Management LLC owned about 1.70% of Cambium Networks worth $877,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CMBM. Vanguard Group Inc. raised its holdings in Cambium Networks by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 798,373 shares of the company’s stock worth $3,441,000 after purchasing an additional 6,125 shares in the last quarter. Virtu Financial LLC bought a new stake in Cambium Networks during the 1st quarter valued at approximately $73,000. Federated Hermes Inc. grew its holdings in shares of Cambium Networks by 13.5% during the 2nd 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. Paradigm Capital Management Inc. NY boosted its position in shares of Cambium Networks by 29.5% during the second quarter. Paradigm Capital Management Inc. NY now owns 2,756,400 shares of the company’s stock valued at $7,690,000 after purchasing an additional 627,453 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Cambium Networks during the 2nd quarter valued at $187,000. Institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on CMBM shares. Roth Mkm cut their price target on Cambium Networks from $8.50 to $8.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Northland Securities decreased their target price on Cambium Networks from $5.00 to $3.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th.

Cambium Networks Price Performance

NASDAQ CMBM opened at $1.20 on Wednesday. Cambium Networks Co. has a 1-year low of $1.06 and a 1-year high of $6.50. The stock has a market capitalization of $33.89 million, a price-to-earnings ratio of -0.40 and a beta of 0.98. The business’s fifty day moving average price is $1.35 and its 200-day moving average price is $1.96.

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.