Bandwidth Inc. (NASDAQ:BAND) Short Interest Update

Bandwidth Inc. (NASDAQ:BAND) was the target of a large growth in short interest in the month of February. As of February 27th, there was short interest totaling 1,278,515 shares, a growth of 15.1% from the February 12th total of 1,111,261 shares. Currently, 4.3% of the company’s shares are short sold. Based on an average trading volume of 640,549 shares, the short-interest ratio is currently 2.0 days. Based on an average trading volume of 640,549 shares, the short-interest ratio is currently 2.0 days. Currently, 4.3% of the company’s shares are short sold.

Bandwidth Trading Down 2.0%

NASDAQ BAND opened at $14.93 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a market cap of $468.65 million, a price-to-earnings ratio of -34.72 and a beta of 2.14. The firm has a 50 day simple moving average of $14.24 and a 200-day simple moving average of $15.05. Bandwidth has a one year low of $11.33 and a one year high of $18.63.

Insider Activity at Bandwidth

In other news, CFO Daryl E. Raiford sold 17,026 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $15.47, for a total value of $263,392.22. Following the transaction, the chief financial officer directly owned 52,745 shares in the company, valued at approximately $815,965.15. This represents a 24.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Bandwidth

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC grew its stake in shares of Bandwidth by 183.7% in the second quarter. Tower Research Capital LLC TRC now owns 3,776 shares of the company’s stock worth $60,000 after acquiring an additional 2,445 shares in the last quarter. State of Wyoming purchased a new position in Bandwidth in the third quarter valued at $71,000. Raymond James Financial Inc. acquired a new position in Bandwidth during the 2nd quarter worth $85,000. Harbor Capital Advisors Inc. grew its stake in Bandwidth by 30.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 7,509 shares of the company’s stock worth $125,000 after purchasing an additional 1,748 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Bandwidth during the 2nd quarter worth about $128,000. Hedge funds and other institutional investors own 68.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on BAND shares. Wall Street Zen lowered Bandwidth from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th. B. Riley Financial started coverage on Bandwidth in a research note on Friday, January 23rd. They issued a “buy” rating and a $20.00 price objective for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Bandwidth in a report on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Bandwidth has an average rating of “Hold” and a consensus price target of $20.60.

Bandwidth Company Profile

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.