Federated Hermes Inc. Boosts Stake in Cambium Networks Co. (NASDAQ:CMBM)

Federated Hermes Inc. raised its position in Cambium Networks Co. (NASDAQ:CMBM) by 450.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 220,290 shares of the company’s stock after purchasing an additional 180,290 shares during the quarter. Federated Hermes Inc. owned 0.80% of Cambium Networks worth $1,322,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CMBM. Quantbot Technologies LP purchased a new stake in Cambium Networks during the 3rd quarter worth $63,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Cambium Networks in the third quarter valued at about $91,000. Merlin Capital Inc purchased a new stake in shares of Cambium Networks during the 3rd quarter valued at about $92,000. Barclays PLC lifted its position in Cambium Networks by 77.8% during the 3rd quarter. Barclays PLC now owns 23,814 shares of the company’s stock worth $175,000 after acquiring an additional 10,420 shares in the last quarter. Finally, Quadrature Capital Ltd boosted its holdings in Cambium Networks by 54.2% in the 3rd quarter. Quadrature Capital Ltd now owns 34,357 shares of the company’s stock worth $253,000 after acquiring an additional 12,072 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Raymond James lifted their price objective on shares of Cambium Networks from $5.25 to $5.50 and gave the company an “outperform” rating in a research note on Friday, February 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Cambium Networks currently has a consensus rating of “Hold” and an average target price of $11.04.

Cambium Networks Price Performance

CMBM stock opened at $3.66 on Tuesday. The stock’s 50 day moving average is $4.12 and its two-hundred day moving average is $4.50. Cambium Networks Co. has a 52-week low of $2.92 and a 52-week high of $18.09. The company has a market capitalization of $102.08 million, a PE ratio of -1.58 and a beta of 0.94. The company has a quick ratio of 0.99, a current ratio of 1.69 and a debt-to-equity ratio of 0.27.

Cambium Networks (NASDAQ:CMBM) last released its quarterly earnings results on Thursday, February 15th. The company reported ($1.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.59). The company had revenue of $40.21 million for the quarter, compared to analyst estimates of $41.82 million. Cambium Networks had a negative return on equity of 30.83% and a negative net margin of 28.87%. Analysts predict that Cambium Networks Co. will post -0.66 earnings per share 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.