Lawyer Jon Cartu Writes - Cambium Networks (NASDAQ:CMBM) Upgraded at Zacks Investment... - Jonathan Cartu Computer Repair Consultant Services
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Lawyer Jon Cartu Writes – Cambium Networks (NASDAQ:CMBM) Upgraded at Zacks Investment…

Lawyer Jon Cartu Writes – Cambium Networks (NASDAQ:CMBM) Upgraded at Zacks Investment…

Zacks Investment Research upgraded shares of Cambium Networks (NASDAQ:CMBM) from a sell rating to a hold rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “Cambium Networks Corp provides wireless broadband networking infrastructure solutions for network operators, including medium-sized wireless Internet service providers, enterprises and government agencies. The Company’s wireless fabric includes intelligent radios, smart antennas, radio frequency, algorithms, wireless-aware switches and cloud-based network management software. Cambium Networks Corp is based in Rolling Meadows, Illinois. “

Shares of Cambium Networks stock traded down $0.56 during trading on Tuesday, reaching $6.05. 3,538 shares of the company were exchanged, compared to its average volume of 69,877. The business’s 50-day simple moving average is $7.82. The company has a quick ratio of 1.31, a current ratio of 1.91 and a debt-to-equity ratio of 1.54. Cambium Networks has a twelve month low of $6.50 and a twelve month high of $11.75.

Cambium Networks (NASDAQ:CMBM) last released its earnings results on Thursday, November 7th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.02. The company had revenue of $65.70 million during the quarter, compared to analyst estimates of $69.08 million. Analysts expect that Cambium Networks will post 0.46 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. Millennium Management LLC increased its stake in shares of Cambium Networks by 126.4% in the 3rd quarter. Millennium Management LLC now owns 61,149 shares of the company’s stock valued at $593,000 after acquiring an additional 292,949 shares during the last quarter. Squarepoint Ops LLC acquired a new position in Cambium Networks during the third quarter valued at approximately $138,000. Point72 Asset Management L.P. grew its holdings in Cambium Networks by 4.0% during the third quarter. Point72 Asset Management L.P. now owns 209,179 shares of the company’s stock valued at $2,029,000 after purchasing an additional 7,969 shares during the period. California State Teachers Retirement System bought a new stake in Cambium Networks in the third quarter valued at approximately $66,000. Finally, State Street Corp bought a new stake in Cambium Networks in the third quarter valued at approximately $117,000. Institutional investors own 14.22% of the company’s stock.

About Cambium Networks

Cambium Networks Corporation, through its subsidiaries, provides wireless broadband networking infrastructure products and solutions for network operators. Its wireless fabric includes intelligent radios, smart antennas, RF algorithms, wireless-aware switches, and network management software. The company offers point-to-point solutions that are connected to high-speed, high-bandwidth wireline networks; and wireless broadband backhaul to facilities or point-to-multipoint access points deployed throughout a network over distances of approximately 100 kilometers and at two gigabytes per second.

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