Cambium Networks Corporation (NASDAQ:CMBM) Sees Large Decline in Short Interest

Cambium Networks Corporation (NASDAQ:CMBM) was the recipient of a large decline in short interest in the month of January. As of January 30th, there was short interest totaling 2,070,602 shares, a decline of 15.6% from the January 15th total of 2,452,502 shares. Currently, 17.2% of the shares of the company are short sold. Based on an average daily volume of 379,040 shares, the short-interest ratio is presently 5.5 days. Based on an average daily volume of 379,040 shares, the short-interest ratio is presently 5.5 days. Currently, 17.2% of the shares of the company are short sold.

Hedge Funds Weigh In On Cambium Networks

A number of institutional investors have recently modified their holdings of CMBM. GSA Capital Partners LLP boosted its stake in Cambium Networks by 11.2% in the third quarter. GSA Capital Partners LLP now owns 182,737 shares of the company’s stock valued at $163,000 after buying an additional 18,428 shares in the last quarter. Thompson Davis & CO. Inc. acquired a new stake in shares of Cambium Networks in the 4th quarter valued at approximately $29,000. State Street Corp grew its holdings in shares of Cambium Networks by 51.8% during the 4th quarter. State Street Corp now owns 60,390 shares of the company’s stock valued at $87,000 after purchasing an additional 20,600 shares during the last quarter. Finally, Jones Financial Companies Lllp bought a new stake in shares of Cambium Networks during the 1st quarter valued at approximately $26,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CMBM. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cambium Networks in a research note on Monday, December 29th. Wall Street Zen raised Cambium Networks to a “hold” rating in a report on Saturday, November 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Cambium Networks Price Performance

Shares of NASDAQ:CMBM opened at $1.23 on Tuesday. Cambium Networks has a 1 year low of $0.23 and a 1 year high of $6.80. The stock has a market capitalization of $34.74 million, a price-to-earnings ratio of -0.59 and a beta of 1.98. The company’s 50 day simple moving average is $1.54 and its 200 day simple moving average is $1.38.

About Cambium Networks

Cambium Networks Corporation, founded in 2011 as a spin-out from Motorola Solutions and headquartered in Rolling Meadows, Illinois, is a global provider of wireless broadband infrastructure. The company designs and delivers fixed wireless networking solutions that enable high-capacity connectivity for service providers, enterprises, and government agencies. Cambium’s technology portfolio focuses on reliable, scalable links in challenging environments, offering alternatives to fiber and traditional wired networks.

The company’s core offerings include point-to-point (PTP) and point-to-multipoint (PTMP) wireless backhaul products that deliver gigabit-class throughput over distances up to tens of kilometers.