Bandwidth Inc. (NASDAQ:BAND) Sees Large Growth in Short Interest

Bandwidth Inc. (NASDAQ:BAND) saw a significant growth in short interest in January. As of January 31st, there was short interest totalling 922,200 shares, a growth of 13.6% from the January 15th total of 811,500 shares. Based on an average daily trading volume, of 245,400 shares, the short-interest ratio is currently 3.8 days.

Bandwidth Trading Down 4.6 %

NASDAQ BAND opened at $18.71 on Monday. The company has a market capitalization of $514.71 million, a PE ratio of -20.12 and a beta of 1.54. Bandwidth has a 1-year low of $11.90 and a 1-year high of $25.02. The firm’s fifty day simple moving average is $17.61 and its 200-day simple moving average is $17.78. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.83.

Wall Street Analyst Weigh In

Several analysts have issued reports on BAND shares. Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a research note on Friday, November 1st. Robert W. Baird upped their price target on shares of Bandwidth from $19.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Finally, Morgan Stanley upped their price target on shares of Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $28.83.

Insider Buying and Selling at Bandwidth

In other Bandwidth news, CEO David A. Morken sold 2,777 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $17.39, for a total transaction of $48,292.03. Following the sale, the chief executive officer now directly owns 109,783 shares of the company’s stock, valued at $1,909,126.37. The trade was a 2.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Daryl Raiford sold 4,371 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $20.70, for a total transaction of $90,479.70. Following the sale, the chief financial officer now directly owns 93,451 shares in the company, valued at approximately $1,934,435.70. This trade represents a 4.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,417 shares of company stock valued at $1,063,184. Corporate insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Bandwidth

A number of large investors have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd boosted its holdings in Bandwidth by 1.6% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 43,366 shares of the company’s stock worth $738,000 after purchasing an additional 699 shares in the last quarter. Los Angeles Capital Management LLC boosted its holdings in Bandwidth by 3.6% during the third quarter. Los Angeles Capital Management LLC now owns 21,221 shares of the company’s stock valued at $372,000 after acquiring an additional 740 shares during the period. nVerses Capital LLC boosted its holdings in Bandwidth by 80.0% during the third quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock valued at $32,000 after acquiring an additional 800 shares during the period. Quarry LP boosted its holdings in Bandwidth by 157.6% during the third quarter. Quarry LP now owns 2,035 shares of the company’s stock valued at $36,000 after acquiring an additional 1,245 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in Bandwidth by 14.5% during the fourth quarter. SG Americas Securities LLC now owns 11,102 shares of the company’s stock valued at $189,000 after acquiring an additional 1,407 shares during the period. 68.53% of the stock is currently owned by institutional investors.

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.