Cambium Networks tumbles on bleak Q3 revenue forecast

Cambium Networks

05/10/2023 11:09

** Shares of technology firm Cambium Networks  CMBM.O  tank
28.3% to $5.68 premarket
    ** CMBM sees prelim Q3 rev between $40mln- $45mln vs.
analysts estimates of $51.79 mln - LSEG data
    ** Co says reduced Q3 revenue due to delay in government
defense orders 
    ** Brokerage Oppenheimer downgrades CMBM to "perform" from
"outperform" 
    ** "Company has fundamental issues and long-term growth
prospects have likely been overestimated," - Brokerage
    ** CMBM down 63% YTD as of last close

 (Reporting by Siddarth S in Bengaluru)
 ((Siddarth.s@thomsonreuters.com;))