Shares of Cambium Networks Co. (NASDAQ:CMBM) were up 4.5% during mid-day trading on Tuesday . The stock traded as high as $38.34 and last traded at $38.11. Approximately 17,053 shares changed hands during trading, a decline of 94% from the average daily volume of 282,487 shares. The stock had previously closed at $36.46.
Several equities analysts have weighed in on the stock. Roth Capital lifted their price target on shares of Cambium Networks from $64.00 to $69.00 and gave the company a “buy” rating in a report on Tuesday, August 10th. Zacks Investment Research lowered shares of Cambium Networks from a “strong-buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a research report on Wednesday, July 7th. Vertical Research lowered shares of Cambium Networks from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 10th. Barrington Research reaffirmed a “buy” rating and set a C$76.00 price objective on shares of Cambium Networks in a report on Monday, August 23rd. Finally, TheStreet cut shares of Cambium Networks from a “b-” rating to a “c+” rating in a research report on Thursday, August 19th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $56.44.
The stock’s 50 day moving average price is $38.28 and its 200 day moving average price is $46.76. The company has a current ratio of 1.98, a quick ratio of 1.65 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of 21.10, a P/E/G ratio of 1.36 and a beta of 0.49.
In other Cambium Networks news, General Counsel Sally Rau sold 21,250 shares of the firm’s stock in a transaction on Tuesday, September 7th. The stock was sold at an average price of $36.56, for a total value of $776,900.00. Following the completion of the sale, the general counsel now directly owns 11,250 shares of the company’s stock, valued at approximately $411,300. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Scott Imhoff sold 5,000 shares of the firm’s stock in a transaction dated Friday, September 10th. The stock was sold at an average price of $35.69, for a total value of $178,450.00. Following the sale, the vice president now directly owns 10,037 shares in the company, valued at approximately $358,220.53. The disclosure for this sale can be found here. 66.80% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP purchased a new position in Cambium Networks in the fourth quarter valued at about $422,000. The Manufacturers Life Insurance Company bought a new stake in Cambium Networks in the 1st quarter valued at $232,000. Commonwealth Equity Services LLC bought a new position in Cambium Networks during the 1st quarter valued at about $341,000. Rhumbline Advisers acquired a new stake in shares of Cambium Networks during the 1st quarter worth approximately $254,000. Finally, Alps Advisors Inc. bought a new position in Cambium Networks in the first quarter valued at approximately $310,000. Institutional investors own 84.82% of the company’s stock.
Cambium Networks Company Profile (NASDAQ:CMBM)
Cambium Networks Corp. engages in the provision of wireless broadband networking infrastructure solutions for network operators. Its products include point-to-point, enterprise Wi-Fi and switching, CCTV,software, and point-to multipoint. The company was founded in 2011 and is headquartered in Rolling Meadows, IL.
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