Cambium Networks (NASDAQ:CMBM) Stock Price Down 0.9% – Here’s Why

Shares of Cambium Networks Co. (NASDAQ:CMBM) were down 0.9% during mid-day trading on Monday . The company traded as low as $0.91 and last traded at $0.97. Approximately 139,868 shares changed hands during trading, a decline of 75% from the average daily volume of 553,267 shares. The stock had previously closed at $0.98.

Wall Street Analysts Forecast Growth

Separately, Northland Securities dropped their target price on Cambium Networks from $5.00 to $3.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th.

Cambium Networks Price Performance

The business’s fifty day moving average price is $1.01 and its 200-day moving average price is $1.52. The stock has a market capitalization of $27.30 million, a PE ratio of -0.32 and a beta of 1.06.

Institutional Trading of Cambium Networks

Institutional investors and hedge funds have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Cambium Networks during the 2nd quarter valued at $52,000. Cubist Systematic Strategies LLC bought a new stake in Cambium Networks during the second quarter valued at $187,000. GSA Capital Partners LLP grew its position in Cambium Networks by 266.4% during the third quarter. GSA Capital Partners LLP now owns 205,369 shares of the company’s stock worth $376,000 after buying an additional 149,326 shares in the last quarter. RBF Capital LLC increased its stake in Cambium Networks by 28.5% in the 3rd quarter. RBF Capital LLC now owns 217,006 shares of the company’s stock worth $397,000 after acquiring an additional 48,077 shares during the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of Cambium Networks by 13.5% in the 2nd quarter. Federated Hermes Inc. now owns 305,164 shares of the company’s stock valued at $851,000 after acquiring an additional 36,270 shares in the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

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.