Cambium Networks Co. (NASDAQ:CMBM – Get Rating) saw a large increase in short interest in November. As of November 30th, there was short interest totalling 433,400 shares, an increase of 22.7% from the November 15th total of 353,100 shares. Approximately 3.8% of the company’s stock are short sold. Based on an average daily volume of 118,600 shares, the short-interest ratio is currently 3.7 days.
Cambium Networks Stock Performance
Shares of NASDAQ:CMBM traded down $0.78 on Thursday, hitting $20.83. The company’s stock had a trading volume of 185,604 shares, compared to its average volume of 139,287. Cambium Networks has a 12 month low of $12.40 and a 12 month high of $29.38. The company has a market capitalization of $563.14 million, a price-to-earnings ratio of 51.20, a price-to-earnings-growth ratio of 2.57 and a beta of 0.88. The stock’s 50-day moving average is $20.11 and its two-hundred day moving average is $18.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.79 and a current ratio of 2.42.
Cambium Networks (NASDAQ:CMBM – Get Rating) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.20. Cambium Networks had a return on equity of 10.73% and a net margin of 3.99%. The company had revenue of $81.20 million during the quarter, compared to analysts’ expectations of $74.17 million. On average, equities research analysts forecast that Cambium Networks will post 0.5 EPS for the current year.
Insider Buying and Selling at Cambium Networks
In other Cambium Networks news, VP Vibhu Vivek sold 3,372 shares of the company’s stock in a transaction that occurred on Friday, November 25th. The stock was sold at an average price of $20.21, for a total value of $68,148.12. Following the transaction, the vice president now directly owns 92,604 shares of the company’s stock, valued at approximately $1,871,526.84. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, VP Ronald G. Ryan sold 9,222 shares of the company’s stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $20.97, for a total transaction of $193,385.34. Following the sale, the vice president now directly owns 35,315 shares of the company’s stock, valued at approximately $740,555.55. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Vibhu Vivek sold 3,372 shares of the company’s stock in a transaction that occurred on Friday, November 25th. The shares were sold at an average price of $20.21, for a total value of $68,148.12. Following the sale, the vice president now directly owns 92,604 shares in the company, valued at $1,871,526.84. The disclosure for this sale can be found here. Insiders have sold a total of 14,843 shares of company stock valued at $308,200 in the last three months. Corporate insiders own 58.50% of the company’s stock.
Institutional Trading of Cambium Networks
Institutional investors have recently modified their holdings of the company. Campbell Newman Asset Management Inc. lifted its holdings in shares of Cambium Networks by 4.6% in the second quarter. Campbell Newman Asset Management Inc. now owns 70,752 shares of the company’s stock valued at $1,037,000 after buying an additional 3,105 shares during the period. Rice Hall James & Associates LLC lifted its holdings in shares of Cambium Networks by 61.2% in the second quarter. Rice Hall James & Associates LLC now owns 904,664 shares of the company’s stock valued at $13,253,000 after buying an additional 343,448 shares during the period. Kornitzer Capital Management Inc. KS lifted its holdings in shares of Cambium Networks by 14.1% in the second quarter. Kornitzer Capital Management Inc. KS now owns 355,335 shares of the company’s stock valued at $5,206,000 after buying an additional 43,790 shares during the period. Polar Asset Management Partners Inc. lifted its holdings in shares of Cambium Networks by 33.7% in the first quarter. Polar Asset Management Partners Inc. now owns 526,300 shares of the company’s stock valued at $12,442,000 after buying an additional 132,600 shares during the period. Finally, Needham Investment Management LLC lifted its holdings in shares of Cambium Networks by 47.1% in the second quarter. Needham Investment Management LLC now owns 643,300 shares of the company’s stock valued at $9,425,000 after buying an additional 206,100 shares during the period. Institutional investors and hedge funds own 90.68% of the company’s stock.
Analyst Ratings Changes
Separately, Raymond James downgraded Cambium Networks from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the stock from $29.00 to $26.00 in a research note on Tuesday, November 15th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $26.86.
About Cambium Networks
Cambium Networks Corporation, through its subsidiaries, provides wireless broadband networking infrastructure products and solutions for commercial and government network operators. Its wireless fabric includes intelligent radios, smart antennas, radio frequency (RF) algorithms, wireless-aware switches, and cloud-based network management software.