Cambium Networks Co. (NASDAQ:CMBM – Get Free Report) has earned a consensus rating of “Hold” from the six brokerages that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $11.04.
Separately, Raymond James boosted their target price on Cambium Networks from $5.25 to $5.50 and gave the company an “outperform” rating in a research report on Friday, February 16th.
Check Out Our Latest Stock Report on CMBM
Cambium Networks Stock Up 7.9 %
Cambium Networks (NASDAQ:CMBM – Get Free Report) last announced its earnings results on Thursday, February 15th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.59). The firm had revenue of $40.21 million during the quarter, compared to analysts’ expectations of $41.82 million. Cambium Networks had a negative net margin of 28.87% and a negative return on equity of 30.83%. Research analysts predict that Cambium Networks will post -0.66 EPS for the current year.
Hedge Funds Weigh In On Cambium Networks
Several institutional investors have recently modified their holdings of CMBM. Quantbot Technologies LP acquired a new position in shares of Cambium Networks in the third quarter worth $63,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Cambium Networks during the third quarter worth $91,000. Merlin Capital Inc acquired a new position in shares of Cambium Networks during the third quarter worth $92,000. Barclays PLC grew its stake in shares of Cambium Networks by 77.8% during the third quarter. Barclays PLC now owns 23,814 shares of the company’s stock worth $175,000 after purchasing an additional 10,420 shares in the last quarter. Finally, Quadrature Capital Ltd grew its stake in shares of Cambium Networks by 54.2% during the third quarter. Quadrature Capital Ltd now owns 34,357 shares of the company’s stock worth $253,000 after purchasing an additional 12,072 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.
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.
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