Short Interest in Cambium Networks Co. (NASDAQ:CMBM) Increases By 11.1%

Cambium Networks Co. (NASDAQ:CMBM) saw a significant increase in short interest during the month of November. As of November 30th, there was short interest totalling 570,300 shares, an increase of 11.1% from the November 15th total of 513,100 shares. Currently, 4.5% of the company’s stock are sold short. Based on an average daily trading volume, of 82,200 shares, the short-interest ratio is currently 6.9 days.

Cambium Networks Stock Down 2.8 %

Shares of NASDAQ CMBM opened at $0.78 on Tuesday. The company has a market capitalization of $22.03 million, a PE ratio of -0.26 and a beta of 0.98. The stock’s 50 day moving average price is $1.22 and its 200-day moving average price is $1.82. Cambium Networks has a twelve month low of $0.77 and a twelve month high of $6.50.

Wall Street Analysts Forecast Growth

Separately, Northland Securities reduced their target price 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.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Cambium Networks by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 798,373 shares of the company’s stock worth $3,441,000 after purchasing an additional 6,125 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Cambium Networks in the second quarter worth about $52,000. Federated Hermes Inc. raised its position in Cambium Networks by 13.5% in the second quarter. Federated Hermes Inc. now owns 305,164 shares of the company’s stock worth $851,000 after acquiring an additional 36,270 shares during the period. RBF Capital LLC boosted its stake in Cambium Networks by 28.5% in the third quarter. RBF Capital LLC now owns 217,006 shares of the company’s stock valued at $397,000 after acquiring an additional 48,077 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Cambium Networks during the 2nd quarter valued at approximately $187,000. Institutional investors own 87.17% of the company’s stock.

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.