Cubist Systematic Strategies LLC Acquires New Holdings in Cambium Networks Co. (NASDAQ:CMBM)

Cubist Systematic Strategies LLC acquired a new stake in Cambium Networks Co. (NASDAQ:CMBM) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 67,065 shares of the company’s stock, valued at approximately $187,000.

Several other hedge funds have also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in Cambium Networks in the 2nd quarter valued at about $52,000. Paradigm Capital Management Inc. NY lifted its position in Cambium Networks by 29.5% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 2,756,400 shares of the company’s stock valued at $7,690,000 after purchasing an additional 627,453 shares during the last quarter. Federated Hermes Inc. lifted 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 valued at $851,000 after purchasing an additional 36,270 shares during the last quarter. Virtu Financial LLC bought a new stake in Cambium Networks in the 1st quarter valued at about $73,000. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Cambium Networks by 60.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 290,828 shares of the company’s stock worth $1,253,000 after buying an additional 109,837 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Cambium Networks Stock Performance

Shares of CMBM opened at $1.42 on Tuesday. The firm’s 50 day moving average is $1.72 and its 200-day moving average is $2.64. The stock has a market capitalization of $39.61 million, a P/E ratio of -0.42 and a beta of 0.93. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.93 and a quick ratio of 1.37. Cambium Networks Co. has a 12-month low of $1.40 and a 12-month high of $6.50.

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