Cambium Networks Co. (NASDAQ:CMBM) Receives $6.13 Consensus Target Price from Analysts

Cambium Networks Co. (NASDAQ:CMBM) has received an average recommendation of “Hold” from the six ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $6.13.

CMBM has been the topic of several research reports. Roth Mkm dropped their price objective on shares of Cambium Networks from $8.50 to $8.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Northland Securities reduced their price objective on Cambium Networks from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Friday, August 9th.

Institutional Investors Weigh In On Cambium Networks

Large investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Cambium Networks in the second quarter valued at $52,000. Virtu Financial LLC purchased a new stake in Cambium Networks during the first quarter valued at about $73,000. Cubist Systematic Strategies LLC bought a new position in Cambium Networks during the second quarter worth about $187,000. Federated Hermes Inc. boosted its holdings in Cambium Networks by 13.5% in the 2nd quarter. Federated Hermes Inc. now owns 305,164 shares of the company’s stock worth $851,000 after buying an additional 36,270 shares during the period. Finally, Bridge City Capital LLC raised its holdings in Cambium Networks by 2.9% during the 1st quarter. Bridge City Capital LLC now owns 268,231 shares of the company’s stock valued at $1,156,000 after acquiring an additional 7,605 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cambium Networks Trading Down 2.8 %

NASDAQ CMBM opened at $1.72 on Thursday. Cambium Networks has a one year low of $1.52 and a one year high of $7.95. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.93 and a quick ratio of 1.37. The business has a 50 day simple moving average of $1.83 and a 200 day simple moving average of $2.91. The stock has a market capitalization of $47.98 million, a P/E ratio of -0.50 and a beta of 0.93.

Cambium Networks (NASDAQ:CMBM) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.03). The company had revenue of $45.95 million during the quarter, compared to the consensus estimate of $45.92 million. Cambium Networks had a negative net margin of 58.76% and a negative return on equity of 83.80%. Research analysts expect that Cambium Networks will post -1.3 earnings per share for the current year.

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.