Cambium Networks Corporation (NASDAQ:CMBM) Sees Significant Decline in Short Interest

Cambium Networks Corporation (NASDAQ:CMBM) saw a significant drop in short interest in January. As of January 30th, there was short interest totaling 2,070,602 shares, a drop of 15.6% from the January 15th total of 2,452,502 shares. Approximately 17.2% of the company’s shares are short sold. Based on an average daily volume of 379,040 shares, the days-to-cover ratio is presently 5.5 days. Based on an average daily volume of 379,040 shares, the days-to-cover ratio is presently 5.5 days. Approximately 17.2% of the company’s shares are short sold.

Cambium Networks Price Performance

Shares of NASDAQ:CMBM opened at $1.23 on Monday. The company’s 50-day moving average price is $1.55 and its two-hundred day moving average price is $1.38. Cambium Networks has a one year low of $0.23 and a one year high of $6.80. The stock has a market capitalization of $34.74 million, a PE ratio of -0.59 and a beta of 1.98.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cambium Networks in a report on Monday, December 29th. Wall Street Zen upgraded Cambium Networks to a “hold” rating in a report on Saturday, November 29th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Cambium Networks presently has an average rating of “Sell”.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp acquired a new position in shares of Cambium Networks during the 1st quarter worth approximately $26,000. Thompson Davis & CO. Inc. acquired a new stake in shares of Cambium Networks in the 4th quarter valued at approximately $29,000. State Street Corp increased its holdings in Cambium Networks by 51.8% during the fourth quarter. State Street Corp now owns 60,390 shares of the company’s stock worth $87,000 after buying an additional 20,600 shares during the last quarter. Finally, GSA Capital Partners LLP increased its holdings in Cambium Networks by 11.2% during the third quarter. GSA Capital Partners LLP now owns 182,737 shares of the company’s stock worth $163,000 after buying an additional 18,428 shares during the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

About Cambium Networks

Cambium Networks Corporation, founded in 2011 as a spin-out from Motorola Solutions and headquartered in Rolling Meadows, Illinois, is a global provider of wireless broadband infrastructure. The company designs and delivers fixed wireless networking solutions that enable high-capacity connectivity for service providers, enterprises, and government agencies. Cambium’s technology portfolio focuses on reliable, scalable links in challenging environments, offering alternatives to fiber and traditional wired networks.

The company’s core offerings include point-to-point (PTP) and point-to-multipoint (PTMP) wireless backhaul products that deliver gigabit-class throughput over distances up to tens of kilometers.