Cambium Networks (NASDAQ:CMBM) Shares Down 7.9%

Cambium Networks Co. (NASDAQ:CMBMGet Rating) fell 7.9% on Wednesday . The company traded as low as $20.75 and last traded at $20.75. 710 shares traded hands during trading, a decline of 99% from the average session volume of 133,491 shares. The stock had previously closed at $22.53.

Wall Street Analyst Weigh In

Separately, Raymond James downgraded Cambium Networks from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the company from $29.00 to $26.00 in a report on Tuesday, November 15th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.86.

Cambium Networks Stock Up 2.5 %

The firm has a market capitalization of $590.34 million, a price-to-earnings ratio of 53.27, a P/E/G ratio of 2.65 and a beta of 0.88. The company has a current ratio of 2.42, a quick ratio of 1.79 and a debt-to-equity ratio of 0.19. The firm has a fifty day moving average price of $19.84 and a 200 day moving average price of $17.91.

Cambium Networks (NASDAQ:CMBMGet Rating) last posted its quarterly earnings data on Thursday, November 3rd. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.20. The firm had revenue of $81.20 million during the quarter, compared to analysts’ expectations of $74.17 million. Cambium Networks had a net margin of 3.99% and a return on equity of 10.73%. Sell-side analysts anticipate that Cambium Networks Co. will post 0.5 EPS for the current fiscal year.

Insider Buying and Selling at Cambium Networks

In related news, VP Ronald G. Ryan sold 9,222 shares of the company’s stock in a transaction on Friday, November 18th. The shares were sold at an average price of $20.97, for a total value of $193,385.34. Following the completion of the sale, the vice president now owns 35,315 shares in the company, valued at approximately $740,555.55. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, VP Vibhu Vivek sold 3,372 shares of the company’s stock in a transaction on Friday, November 25th. The shares were sold at an average price of $20.21, for a total value of $68,148.12. Following the completion of the sale, the vice president now owns 92,604 shares in the company, valued at approximately $1,871,526.84. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Ronald G. Ryan sold 9,222 shares of the company’s stock in a transaction on Friday, November 18th. The shares were sold at an average price of $20.97, for a total transaction of $193,385.34. Following the completion of the sale, the vice president now owns 35,315 shares of the company’s stock, valued at approximately $740,555.55. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,843 shares of company stock worth $308,200. Insiders own 58.50% of the company’s stock.

Institutional Trading of Cambium Networks

A number of large investors have recently made changes to their positions in CMBM. Campbell Newman Asset Management Inc. boosted its stake in Cambium Networks by 4.6% in the 2nd quarter. Campbell Newman Asset Management Inc. now owns 70,752 shares of the company’s stock worth $1,037,000 after purchasing an additional 3,105 shares during the period. Rice Hall James & Associates LLC boosted its stake in Cambium Networks by 61.2% in the 2nd quarter. Rice Hall James & Associates LLC now owns 904,664 shares of the company’s stock worth $13,253,000 after purchasing an additional 343,448 shares during the period. Kornitzer Capital Management Inc. KS boosted its stake in Cambium Networks by 14.1% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 355,335 shares of the company’s stock worth $5,206,000 after purchasing an additional 43,790 shares during the period. Polar Asset Management Partners Inc. boosted its stake in Cambium Networks by 33.7% in the 1st quarter. Polar Asset Management Partners Inc. now owns 526,300 shares of the company’s stock worth $12,442,000 after purchasing an additional 132,600 shares during the period. Finally, Needham Investment Management LLC boosted its stake in Cambium Networks by 47.1% in the 2nd quarter. Needham Investment Management LLC now owns 643,300 shares of the company’s stock worth $9,425,000 after purchasing an additional 206,100 shares during the period. Institutional investors own 90.68% of the company’s stock.

Cambium Networks Company Profile

(Get Rating)

Cambium Networks Corporation, through its subsidiaries, provides wireless broadband networking infrastructure products and solutions for commercial and government network operators. Its wireless fabric includes intelligent radios, smart antennas, radio frequency (RF) algorithms, wireless-aware switches, and cloud-based network management software.

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