Paradigm Capital Management Inc. NY Purchases 627,453 Shares of Cambium Networks Co. (NASDAQ:CMBM)

Paradigm Capital Management Inc. NY grew its position in Cambium Networks Co. (NASDAQ:CMBM) by 29.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,756,400 shares of the company’s stock after purchasing an additional 627,453 shares during the period. Paradigm Capital Management Inc. NY owned approximately 9.88% of Cambium Networks worth $7,690,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Virtu Financial LLC acquired a new position in Cambium Networks during the 1st quarter worth approximately $73,000. Federated Hermes Inc. grew 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 valued at $851,000 after purchasing an additional 36,270 shares in the last quarter. Bridge City Capital LLC grew its position 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. Jacobs Levy Equity Management Inc. increased its stake in Cambium Networks by 60.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 290,828 shares of the company’s stock valued at $1,253,000 after buying an additional 109,837 shares during the last quarter. Finally, Connors Investor Services Inc. lifted its position in Cambium Networks by 13.5% during the 1st quarter. Connors Investor Services Inc. now owns 338,007 shares of the company’s stock worth $1,457,000 after buying an additional 40,179 shares in the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CMBM. Roth Mkm lowered their target price on Cambium Networks from $8.50 to $8.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Northland Securities decreased their price target on Cambium Networks from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $6.13.

Cambium Networks Stock Down 2.8 %

Shares of CMBM stock opened at $1.72 on Tuesday. Cambium Networks Co. has a 52-week low of $1.52 and a 52-week high of $7.95. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.37 and a current ratio of 1.93. The stock has a market cap of $47.98 million, a price-to-earnings ratio of -0.50 and a beta of 0.93. The firm’s 50-day moving average is $1.83 and its 200-day moving average is $2.91.

Cambium Networks (NASDAQ:CMBM) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.03). Cambium Networks had a negative net margin of 58.76% and a negative return on equity of 83.80%. The business had revenue of $45.95 million during the quarter, compared to analyst estimates of $45.92 million. Sell-side analysts predict that Cambium Networks Co. will post -1.3 EPS for the current year.

Cambium Networks 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.