Cambium Networks Co. (NASDAQ:CMBM) Holdings Cut by Connors Investor Services Inc.

Connors Investor Services Inc. cut its stake in shares of Cambium Networks Co. (NASDAQ:CMBM) by 85.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,769 shares of the company’s stock after selling 288,238 shares during the quarter. Connors Investor Services Inc. owned approximately 0.18% of Cambium Networks worth $139,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CMBM. Vanguard Group Inc. grew its stake in Cambium Networks by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 798,373 shares of the company’s stock worth $3,441,000 after buying an additional 6,125 shares during the last quarter. Bridge City Capital LLC raised its stake in shares of Cambium Networks by 2.9% during the first quarter. Bridge City Capital LLC now owns 268,231 shares of the company’s stock valued at $1,156,000 after purchasing an additional 7,605 shares in the last quarter. Virtu Financial LLC acquired a new stake in Cambium Networks in the first quarter worth about $73,000. Federated Hermes Inc. grew its position in 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 buying an additional 36,270 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in Cambium Networks by 60.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 290,828 shares of the company’s stock valued at $1,253,000 after buying an additional 109,837 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cambium Networks Trading Up 6.3 %

Shares of NASDAQ CMBM opened at $1.86 on Tuesday. The firm has a market capitalization of $51.89 million, a PE ratio of -0.55 and a beta of 0.93. Cambium Networks Co. has a one year low of $1.52 and a one year high of $7.95. The company has a current ratio of 1.93, a quick ratio of 1.37 and a debt-to-equity ratio of 1.29. The business has a 50-day moving average price of $1.86 and a two-hundred day moving average price of $3.00.

Cambium Networks (NASDAQ:CMBM) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.03). The firm had revenue of $45.95 million for the quarter, compared to analysts’ expectations of $45.92 million. Cambium Networks had a negative return on equity of 83.80% and a negative net margin of 58.76%. As a group, analysts predict that Cambium Networks Co. will post -1.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CMBM has been the subject of a number of research analyst reports. Roth Mkm cut their target price on Cambium Networks from $8.50 to $8.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Northland Securities cut their price target on shares of Cambium Networks from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, Cambium Networks currently has a consensus rating of “Hold” and an average price target of $6.13.

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.