Cambium Networks Co. (NASDAQ:CMBM) Short Interest Up 23.9% in October

Cambium Networks Co. (NASDAQ:CMBM) saw a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 471,400 shares, an increase of 23.9% from the October 15th total of 380,600 shares. Currently, 3.7% of the shares of the stock are sold short. Based on an average trading volume of 80,700 shares, the short-interest ratio is currently 5.8 days.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Virtu Financial LLC acquired a new position in shares of Cambium Networks in the first quarter valued at approximately $73,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Cambium Networks in the second quarter valued at approximately $52,000. Federated Hermes Inc. boosted its holdings in shares of Cambium Networks by 13.5% in the second quarter. Federated Hermes Inc. now owns 305,164 shares of the company’s stock valued at $851,000 after buying an additional 36,270 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Cambium Networks in the second quarter valued at approximately $187,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Cambium Networks by 0.8% in the first quarter. Vanguard Group Inc. now owns 798,373 shares of the company’s stock valued at $3,441,000 after buying an additional 6,125 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CMBM shares. Roth Mkm dropped their price target on shares of Cambium Networks from $8.50 to $8.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Northland Securities dropped their price target on shares of Cambium Networks from $5.00 to $3.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th.

Cambium Networks Stock Down 3.3 %

NASDAQ CMBM traded down $0.04 during trading on Friday, reaching $1.16. 59,876 shares of the stock traded hands, compared to its average volume of 90,188. The firm has a market cap of $32.76 million, a price-to-earnings ratio of -0.38 and a beta of 0.97. The stock’s 50-day moving average price is $1.49 and its 200 day moving average price is $2.20. Cambium Networks has a fifty-two week low of $1.08 and a fifty-two week high of $6.50.

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.