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

Cambium Networks Co. (NASDAQ:CMBM) was the target of a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 570,300 shares, a growth of 11.1% from the November 15th total of 513,100 shares. Approximately 4.5% of the shares of the stock are sold short. Based on an average trading volume of 82,200 shares, the days-to-cover ratio is presently 6.9 days.

Wall Street Analyst Weigh In

Separately, Northland Securities reduced their price target on shares of Cambium Networks from $5.00 to $3.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th.

Institutional Investors Weigh In On Cambium Networks

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Paradigm Capital Management Inc. NY boosted its holdings in Cambium Networks by 29.5% in the second quarter. Paradigm Capital Management Inc. NY now owns 2,756,400 shares of the company’s stock worth $7,690,000 after acquiring an additional 627,453 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Cambium Networks by 0.8% in 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 in the last quarter. Federated Hermes Inc. grew its position in Cambium Networks by 13.5% in the 2nd quarter. Federated Hermes Inc. now owns 305,164 shares of the company’s stock valued at $851,000 after purchasing an additional 36,270 shares during the period. RBF Capital LLC increased its stake in Cambium Networks by 28.5% during the 3rd quarter. RBF Capital LLC now owns 217,006 shares of the company’s stock valued at $397,000 after purchasing an additional 48,077 shares in the last quarter. Finally, GSA Capital Partners LLP raised its holdings in Cambium Networks by 266.4% during the third quarter. GSA Capital Partners LLP now owns 205,369 shares of the company’s stock worth $376,000 after buying an additional 149,326 shares during the last quarter. 87.17% of the stock is owned by institutional investors.

Cambium Networks Stock Performance

NASDAQ:CMBM opened at $0.80 on Friday. Cambium Networks has a 52 week low of $0.78 and a 52 week high of $6.50. The firm’s fifty day moving average is $1.23 and its 200-day moving average is $1.84. The firm has a market cap of $22.66 million, a P/E ratio of -0.26 and a beta of 0.98.

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.