05 Feb President Jon Cartu Writes – Cambium Networks Corporation (NASDAQ:CMBM) Short Interest…
Cambium Networks Corporation (NASDAQ:CMBM) saw a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 144,900 shares, an increase of 18.0% from the December 15th total of 122,800 shares. Based on an average daily trading volume, of 36,000 shares, the days-to-cover ratio is currently 4.0 days. Approximately 2.8% of the company’s stock are short sold.
CMBM traded up $0.11 during trading hours on Tuesday, hitting $7.02. 29,000 shares of the stock were exchanged, compared to its average volume of 27,596. The stock has a 50-day simple moving average of $8.05 and a 200-day simple moving average of $8.50. Cambium Networks has a 12 month low of $5.75 and a 12 month high of $11.75. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.31 and a current ratio of 1.91.
Cambium Networks (NASDAQ:CMBM) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.02. The firm had revenue of $65.70 million for the quarter, compared to the consensus estimate of $69.08 million. Equities research analysts forecast that Cambium Networks will post 0.46 EPS for the current year.
Several research firms have recently commented on CMBM. Zacks Investment Research cut Cambium Networks from a “hold” rating to a “sell” rating in a research note on Monday, January 13th. Raymond James reduced their target price on Cambium Networks from $9.50 to $9.00 and set an “outperform” rating for the company in a research note on Friday, December 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $13.00.
A number of institutional investors and hedge funds have recently made changes to their positions in CMBM. Point72 Asset Management L.P. boosted its position 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 last quarter. Marshall Wace North America L.P. bought a new position in shares of Cambium Networks during the 2nd quarter worth approximately $1,919,000. HBK Investments L P bought a new position in shares of Cambium Networks during the 2nd quarter worth approximately $1,678,000. Pentwater Capital Management LP bought a new position in shares of Cambium Networks during the 2nd quarter worth approximately $719,000. Finally, Millennium Management LLC boosted its stake in shares of Cambium Networks by 126.4% during the 3rd quarter. Millennium Management LLC now owns 61,149 shares of the company’s stock worth $593,000 after acquiring an additional 292,949 shares during the period. Hedge funds and other 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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