Short Interest in Bandwidth Inc. (NASDAQ:BAND) Increases By 13.0%

Bandwidth Inc. (NASDAQ:BAND) was the recipient of a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 847,600 shares, an increase of 13.0% from the December 31st total of 749,900 shares. Based on an average daily trading volume, of 261,700 shares, the short-interest ratio is currently 3.2 days.

Insider Transactions at Bandwidth

In other Bandwidth news, CEO David A. Morken sold 2,777 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $17.39, for a total transaction of $48,292.03. Following the sale, the chief executive officer now owns 109,783 shares of the company’s stock, valued at approximately $1,909,126.37. This trade represents a 2.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Daryl Raiford sold 10,389 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $21.26, for a total transaction of $220,870.14. Following the completion of the transaction, the chief financial officer now directly owns 87,220 shares of the company’s stock, valued at approximately $1,854,297.20. This represents a 10.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 51,417 shares of company stock worth $1,063,184 in the last three months. Insiders own 6.20% of the company’s stock.

Institutional Trading of Bandwidth

Hedge funds have recently modified their holdings of the stock. nVerses Capital LLC boosted its stake in shares of Bandwidth by 80.0% in the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock valued at $32,000 after buying an additional 800 shares during the period. Quarry LP lifted its stake in Bandwidth by 157.6% in the third quarter. Quarry LP now owns 2,035 shares of the company’s stock worth $36,000 after acquiring an additional 1,245 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in Bandwidth in the third quarter worth approximately $74,000. Quest Partners LLC acquired a new position in shares of Bandwidth during the third quarter worth $118,000. Finally, SG Americas Securities LLC raised its stake in Bandwidth by 14.5% in the fourth quarter. SG Americas Securities LLC now owns 11,102 shares of the company’s stock valued at $189,000 after buying an additional 1,407 shares in the last quarter. 68.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on BAND. Needham & Company LLC reaffirmed a “hold” rating on shares of Bandwidth in a research note on Friday, November 1st. Robert W. Baird raised their target price on Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Finally, Morgan Stanley increased their target price on shares of Bandwidth from $17.00 to $18.00 and gave the company an “underweight” rating in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $28.83.

Bandwidth Trading Down 2.6 %

Shares of BAND traded down $0.46 during trading on Monday, reaching $17.32. 116,716 shares of the company traded hands, compared to its average volume of 253,922. The stock has a 50-day simple moving average of $18.11 and a 200-day simple moving average of $18.02. The stock has a market cap of $476.34 million, a PE ratio of -18.68 and a beta of 1.54. Bandwidth has a twelve month low of $11.90 and a twelve month high of $25.02. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.83.

Bandwidth (NASDAQ:BAND) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.11. Bandwidth had a negative return on equity of 0.89% and a negative net margin of 2.23%. The business had revenue of $193.90 million during the quarter, compared to analysts’ expectations of $182.05 million. During the same period in the previous year, the firm posted $0.03 earnings per share. The company’s revenue was up 27.6% on a year-over-year basis. On average, analysts anticipate that Bandwidth will post 0.08 earnings per share for the current year.

About Bandwidth

Bandwidth is a leading enterprise cloud communications company. Companies like Cisco, Google, Microsoft, RingCentral, Uber, and Zoom use Bandwidth’s APIs to easily embed voice, messaging, and emergency services into software and applications. Bandwidth is the first and only CPaaS provider offering a robust selection of communications APIs built around their own IP voice network.