Bandwidth Inc. (NASDAQ:BAND) Short Interest Update

Bandwidth Inc. (NASDAQ:BAND) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 896,400 shares, a decline of 13.8% from the August 15th total of 1,040,000 shares. Based on an average trading volume of 336,300 shares, the short-interest ratio is currently 2.7 days.

Insider Transactions at Bandwidth

In other news, CFO Daryl Raiford sold 1,769 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $22.22, for a total transaction of $39,307.18. Following the completion of the sale, the chief financial officer now owns 63,397 shares in the company, valued at $1,408,681.34. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Kade Ross sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $16.92, for a total transaction of $59,220.00. Following the completion of the sale, the insider now owns 23,322 shares in the company, valued at $394,608.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Daryl Raiford sold 1,769 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $22.22, for a total value of $39,307.18. Following the sale, the chief financial officer now owns 63,397 shares of the company’s stock, valued at approximately $1,408,681.34. The disclosure for this sale can be found here. Insiders sold a total of 13,794 shares of company stock worth $245,075 over the last quarter. Company insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC acquired a new position in shares of Bandwidth during the first quarter worth $1,143,000. G2 Investment Partners Management LLC acquired a new position in shares of Bandwidth during the fourth quarter worth $4,079,000. Acadian Asset Management LLC increased its holdings in shares of Bandwidth by 15.7% during the first quarter. Acadian Asset Management LLC now owns 341,303 shares of the company’s stock worth $6,231,000 after buying an additional 46,342 shares in the last quarter. Palogic Value Management L.P. increased its holdings in shares of Bandwidth by 17.0% during the fourth quarter. Palogic Value Management L.P. now owns 300,000 shares of the company’s stock worth $4,341,000 after buying an additional 43,675 shares in the last quarter. Finally, Oak Harbor Wealth Partners LLC acquired a new position in shares of Bandwidth during the fourth quarter worth $224,000. 68.53% of the stock is currently owned by institutional investors and hedge funds.

Bandwidth Price Performance

BAND traded up $0.18 during trading on Monday, hitting $17.59. 165,408 shares of the stock traded hands, compared to its average volume of 328,201. Bandwidth has a twelve month low of $9.34 and a twelve month high of $25.02. The company has a market cap of $475.07 million, a price-to-earnings ratio of -15.71 and a beta of 1.50. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.16 and a quick ratio of 1.16. The business has a 50 day moving average price of $17.87 and a 200 day moving average price of $18.46.

Bandwidth (NASDAQ:BAND) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.28 by $0.01. Bandwidth had a negative net margin of 3.21% and a negative return on equity of 1.89%. The business had revenue of $174.00 million during the quarter, compared to the consensus estimate of $173.18 million. During the same period in the previous year, the business earned ($0.09) earnings per share. The company’s revenue was up 19.2% on a year-over-year basis. Equities research analysts forecast that Bandwidth will post 0.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BAND has been the subject of several recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of Bandwidth in a research note on Friday, August 2nd. Barclays cut their price target on Bandwidth from $28.00 to $25.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Robert W. Baird cut their price target on Bandwidth from $25.00 to $19.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. JMP Securities reiterated a “market outperform” rating and issued a $36.00 price target on shares of Bandwidth in a research note on Tuesday, August 27th. Finally, Morgan Stanley cut Bandwidth from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $18.00 to $15.00 in a research note on Friday, June 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Bandwidth presently has a consensus rating of “Hold” and a consensus target price of $25.71.

Bandwidth Company Profile

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.