Renaissance Technologies LLC Has $341,000 Position in Cambium Networks Co. (NASDAQ:CMBM)

Renaissance Technologies LLC reduced its holdings in Cambium Networks Co. (NASDAQ:CMBM) by 16.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 122,400 shares of the company’s stock after selling 24,000 shares during the period. Renaissance Technologies LLC owned approximately 0.44% of Cambium Networks worth $341,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Virtu Financial LLC acquired a new position in Cambium Networks in the first quarter valued at approximately $73,000. Federated Hermes Inc. raised its holdings in Cambium Networks by 13.5% in the second 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. Bridge City Capital LLC raised its holdings in Cambium Networks by 2.9% in the first quarter. Bridge City Capital LLC now owns 268,231 shares of the company’s stock worth $1,156,000 after purchasing an additional 7,605 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings 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 worth $1,253,000 after purchasing an additional 109,837 shares during the period. Finally, Connors Investor Services Inc. raised its holdings in Cambium Networks by 13.5% in the first quarter. Connors Investor Services Inc. now owns 338,007 shares of the company’s stock worth $1,457,000 after purchasing an additional 40,179 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cambium Networks Trading Up 2.1 %

Shares of NASDAQ:CMBM opened at $1.45 on Friday. Cambium Networks Co. has a 12 month low of $1.40 and a 12 month high of $6.50. The company has a quick ratio of 1.37, a current ratio of 1.93 and a debt-to-equity ratio of 1.29. The company’s fifty day simple moving average is $1.72 and its 200 day simple moving average is $2.67. The firm has a market cap of $40.90 million, a price-to-earnings ratio of -0.40 and a beta of 0.93.

Cambium Networks (NASDAQ:CMBM) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $45.95 million for the quarter, compared to analyst estimates of $45.92 million. As a group, research analysts forecast that Cambium Networks Co. will post -1.3 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on CMBM. Northland Securities cut their target price on shares of Cambium Networks from $7.00 to $5.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Roth Mkm cut their target price on shares of Cambium Networks from $8.50 to $8.00 and set a “buy” rating on the stock in a report on Friday, August 9th.

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.