Point72 Asia Singapore Pte. Ltd. Purchases Shares of 18,610 Cambium Networks Co. (NASDAQ:CMBM)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in Cambium Networks Co. (NASDAQ:CMBM) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 18,610 shares of the company’s stock, valued at approximately $52,000. Point72 Asia Singapore Pte. Ltd. owned approximately 0.07% of Cambium Networks at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CMBM. Bridge City Capital LLC increased its stake in Cambium Networks by 2.9% in the first 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 in the last quarter. Vanguard Group Inc. increased its stake in 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 purchasing an additional 6,125 shares in the last quarter. Connors Investor Services Inc. increased its stake in Cambium Networks by 13.5% in the first quarter. Connors Investor Services Inc. now owns 338,007 shares of the company’s stock valued at $1,457,000 after purchasing an additional 40,179 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Cambium Networks by 60.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 290,828 shares of the company’s stock valued at $1,253,000 after purchasing an additional 109,837 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in Cambium Networks in the first quarter valued at $73,000. 87.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CMBM shares. Roth Mkm decreased 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 reduced their price objective on shares of Cambium Networks from $7.00 to $5.00 and set an “outperform” rating for the company in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Cambium Networks presently has a consensus rating of “Moderate Buy” and an average price target of $6.13.

Cambium Networks Stock Down 5.7 %

Shares of NASDAQ CMBM opened at $1.64 on Friday. The stock has a market capitalization of $45.75 million, a P/E ratio of -0.48 and a beta of 0.93. The company has a 50-day moving average price of $1.78 and a 200-day moving average price of $2.76. Cambium Networks Co. has a 1 year low of $1.52 and a 1 year high of $6.50. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.93 and a quick ratio of 1.37.

Cambium Networks (NASDAQ:CMBM) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.03). Cambium Networks had a negative return on equity of 83.80% and a negative net margin of 58.76%. The firm had revenue of $45.95 million for the quarter, compared to analysts’ expectations of $45.92 million. On average, equities research analysts forecast that Cambium Networks Co. will post -1.3 EPS for the current fiscal year.

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.