Cambium Networks Corporation (NASDAQ:CMBM)’s stock price rose 6.8% on Wednesday . The company traded as high as $10.70 and last traded at $10.02, approximately 124,010 shares changed hands during mid-day trading. An increase of 31% from the average daily volume of 94,687 shares. The stock had previously closed at $9.38.
Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. started coverage on shares of Cambium Networks in a research report on Monday, July 22nd. They set an “overweight” rating and a $18.00 price target for the company. Deutsche Bank assumed coverage on shares of Cambium Networks in a research report on Monday, July 22nd. They issued a “hold” rating and a $12.00 price objective on the stock. Raymond James initiated coverage on shares of Cambium Networks in a research note on Monday, July 22nd. They issued an “outperform” rating and a $12.50 target price on the stock. Goldman Sachs Group initiated coverage on shares of Cambium Networks in a research report on Monday, July 22nd. They set a “neutral” rating and a $11.00 target price for the company. Finally, CIBC began coverage on shares of Cambium Networks in a research report on Monday, July 22nd. They set an “outperform” rating for the company. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $13.58.
The company’s 50 day simple moving average is $9.29. The company has a quick ratio of 1.78, a current ratio of 2.24 and a debt-to-equity ratio of 2.52.
In other news, Director Alexander R. Slusky acquired 1,500,000 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were acquired at an average cost of $12.00 per share, for a total transaction of $18,000,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CMBM. JPMorgan Chase & Co. bought a new position in Cambium Networks during the second quarter worth about $6,796,000. Monashee Investment Management LLC bought a new stake in shares of Cambium Networks in the second quarter valued at approximately $384,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of Cambium Networks during the 2nd quarter valued at approximately $437,000. Laurion Capital Management LP purchased a new stake in shares of Cambium Networks during the 2nd quarter valued at approximately $1,918,000. Finally, Marshall Wace North America L.P. purchased a new stake in shares of Cambium Networks during the 2nd quarter valued at approximately $1,919,000. 15.02% of the stock is currently owned by institutional investors and hedge funds.
Cambium Networks Company Profile (NASDAQ:CMBM)
Cambium Networks Corporation, through its subsidiaries, provides wireless broadband networking infrastructure products and solutions for network operators. Its wireless fabric includes intelligent radios, smart antennas, RF algorithms, wireless-aware switches, and network management software. The company offers point-to-point solutions that are connected to high-speed, high-bandwidth wireline networks; and wireless broadband backhaul to facilities or point-to-multipoint access points deployed throughout a network over distances of approximately 100 kilometers and at two gigabytes per second.
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