Cambium Networks (NASDAQ:CMBM) Price Target Lowered to $8.50 at Roth Mkm

Cambium Networks (NASDAQ:CMBM) had its target price lowered by equities research analysts at Roth Mkm from $9.75 to $8.50 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Roth Mkm’s price objective would indicate a potential upside of 129.73% from the stock’s previous close.

Separately, Raymond James raised their price objective on Cambium Networks from $5.25 to $5.50 and gave the company an “outperform” rating in a report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $10.33.

Cambium Networks Price Performance

Shares of Cambium Networks stock traded down $0.33 on Friday, reaching $3.70. The company’s stock had a trading volume of 95,353 shares, compared to its average volume of 112,320. Cambium Networks has a 52-week low of $2.92 and a 52-week high of $18.09. The company has a market capitalization of $103.19 million, a P/E ratio of -1.61 and a beta of 0.99. The company has a quick ratio of 0.99, a current ratio of 1.69 and a debt-to-equity ratio of 0.27. The stock has a 50-day moving average price of $4.08 and a 200-day moving average price of $4.45.

Cambium Networks (NASDAQ:CMBM) last announced its earnings results on Thursday, May 9th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.21). Cambium Networks had a negative net margin of 28.87% and a negative return on equity of 30.83%. The company had revenue of $42.34 million during the quarter, compared to analyst estimates of $45.57 million. Analysts expect that Cambium Networks will post -0.66 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Bridge City Capital LLC increased its holdings in Cambium Networks by 2.9% in the 1st 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 during the last quarter. Merlin Capital Inc grew its stake in shares of Cambium Networks by 78.2% in the fourth quarter. Merlin Capital Inc now owns 22,480 shares of the company’s stock valued at $135,000 after buying an additional 9,865 shares in the last quarter. New York State Common Retirement Fund lifted its stake in Cambium Networks by 78.2% during the 4th quarter. New York State Common Retirement Fund now owns 69,750 shares of the company’s stock worth $419,000 after acquiring an additional 30,603 shares in the last quarter. Federated Hermes Inc. boosted its holdings in Cambium Networks by 450.7% during the 4th quarter. Federated Hermes Inc. now owns 220,290 shares of the company’s stock valued at $1,322,000 after acquiring an additional 180,290 shares during the period. Finally, Connors Investor Services Inc. grew its position in Cambium Networks by 36.4% in the 3rd quarter. Connors Investor Services Inc. now owns 252,468 shares of the company’s stock valued at $1,846,000 after acquiring an additional 67,336 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cambium Networks Company Profile

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.