Bandwidth (NASDAQ:BAND) Hits New 12-Month High – What’s Next?

Bandwidth Inc. (NASDAQ:BAND) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $18.64 and last traded at $18.3560, with a volume of 22867 shares. The stock had previously closed at $18.05.

Wall Street Analyst Weigh In

BAND has been the subject of several recent analyst reports. Wall Street Zen downgraded Bandwidth from a “buy” rating to a “hold” rating in a research note on Sunday, December 14th. B. Riley Financial initiated coverage on Bandwidth in a research note on Friday, January 23rd. They set a “buy” rating and a $20.00 price target for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Bandwidth in a research note on Wednesday, January 21st. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $20.60.

Bandwidth Stock Performance

The company has a market cap of $561.83 million, a P/E ratio of -41.63 and a beta of 2.03. The firm has a 50 day moving average price of $15.18 and a 200-day moving average price of $15.13. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.42 and a current ratio of 1.42.

Insiders Place Their Bets

In related news, CFO Daryl E. Raiford sold 16,100 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $15.19, for a total transaction of $244,559.00. Following the completion of the sale, the chief financial officer owned 36,645 shares in the company, valued at $556,637.55. This represents a 30.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.20% of the stock is currently owned by insiders.

Institutional Trading of Bandwidth

Several hedge funds have recently added to or reduced their stakes in the business. Hsbc Holdings PLC boosted its stake in Bandwidth by 8.3% during the 4th quarter. Hsbc Holdings PLC now owns 61,239 shares of the company’s stock valued at $950,000 after purchasing an additional 4,686 shares during the period. Invesco Ltd. boosted its stake in Bandwidth by 6.7% during the 4th quarter. Invesco Ltd. now owns 66,988 shares of the company’s stock valued at $1,035,000 after purchasing an additional 4,223 shares during the period. Mercer Global Advisors Inc. ADV boosted its stake in Bandwidth by 90.1% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 102,040 shares of the company’s stock valued at $1,577,000 after purchasing an additional 48,359 shares during the period. Empowered Funds LLC boosted its stake in Bandwidth by 44.5% during the 4th quarter. Empowered Funds LLC now owns 140,471 shares of the company’s stock valued at $2,170,000 after purchasing an additional 43,246 shares during the period. Finally, Bridgeway Capital Management LLC boosted its stake in Bandwidth by 46.4% during the 4th quarter. Bridgeway Capital Management LLC now owns 215,471 shares of the company’s stock valued at $3,329,000 after purchasing an additional 68,246 shares during the period. Institutional investors own 68.53% of the company’s stock.

About Bandwidth

Bandwidth Inc operates a cloud-based communications platform that provides voice, messaging and emergency services APIs for enterprises and developers. Through its proprietary network and software-as-a-service model, the company enables customers to integrate programmable voice calls, text messaging and 9-1-1 routing into their applications. Bandwidth’s solutions aim to reduce complexity and improve reliability in mission-critical communications, serving industries such as healthcare, financial services, on-demand mobility and customer engagement.

Founded in 1999 in Raleigh, North Carolina by co-founders David Morken and Henry Kaestner, Bandwidth initially focused on voice-over-IP infrastructure before evolving into a full communications API provider.