Point72 Asia Singapore Pte. Ltd. Invests $52,000 in Cambium Networks Co. (NASDAQ:CMBM)

Point72 Asia Singapore Pte. Ltd. acquired a new position in Cambium Networks Co. (NASDAQ:CMBM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 18,610 shares of the company’s stock, valued at approximately $52,000. Point72 Asia Singapore Pte. Ltd. owned about 0.07% of Cambium Networks at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CMBM. Vanguard Group Inc. boosted its position in Cambium Networks by 0.8% during the first 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. Bridge City Capital LLC boosted its position in shares of Cambium Networks by 2.9% during the 1st quarter. Bridge City Capital LLC now owns 268,231 shares of the company’s stock valued at $1,156,000 after acquiring an additional 7,605 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Cambium Networks during the 1st quarter worth $73,000. Federated Hermes Inc. raised 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 worth $851,000 after purchasing an additional 36,270 shares during the period. Finally, Connors Investor Services Inc. boosted its holdings in Cambium Networks by 13.5% during the 1st quarter. Connors Investor Services Inc. now owns 338,007 shares of the company’s stock valued at $1,457,000 after acquiring an additional 40,179 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cambium Networks Stock Down 1.6 %

Shares of NASDAQ CMBM opened at $1.83 on Tuesday. The firm’s 50-day moving average price is $1.81 and its 200-day moving average price is $2.84. The company has a current ratio of 1.93, a quick ratio of 1.37 and a debt-to-equity ratio of 1.29. Cambium Networks Co. has a 12-month low of $1.52 and a 12-month high of $7.95. The stock has a market capitalization of $51.05 million, a price-to-earnings ratio of -0.54 and a beta of 0.93.

Cambium Networks (NASDAQ:CMBM) last announced its quarterly earnings results 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 firm had revenue of $45.95 million during the quarter, compared to analysts’ expectations of $45.92 million. On average, equities research analysts anticipate that Cambium Networks Co. will post -1.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.