Radware (NASDAQ:RDWR) Trading Up 5.9% – Here’s Why

Radware Ltd. (NASDAQ:RDWR) shot up 5.9% during mid-day trading on Monday . The company traded as high as $22.12 and last traded at $22.45. 7,957 shares were traded during mid-day trading, a decline of 94% from the average session volume of 123,871 shares. The stock had previously closed at $21.19.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reaffirmed a “hold” rating on shares of Radware in a report on Friday, February 14th.

Radware Stock Performance

The company has a market cap of $937.03 million, a P/E ratio of 159.19 and a beta of 0.95. The stock’s fifty day moving average price is $22.32 and its two-hundred day moving average price is $22.44.

Radware (NASDAQ:RDWR) last released its earnings results on Wednesday, February 12th. The information technology services provider reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.12). Radware had a return on equity of 3.81% and a net margin of 2.20%. On average, equities research analysts forecast that Radware Ltd. will post 0.28 EPS for the current year.

Institutional Investors Weigh In On Radware

Several hedge funds and other institutional investors have recently made changes to their positions in RDWR. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Radware by 159.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 587,570 shares of the information technology services provider’s stock valued at $13,091,000 after purchasing an additional 360,710 shares during the last quarter. Barclays PLC boosted its holdings in shares of Radware by 137.4% during the 3rd quarter. Barclays PLC now owns 15,743 shares of the information technology services provider’s stock valued at $350,000 after acquiring an additional 9,112 shares in the last quarter. State Street Corp grew its position in Radware by 4.2% during the 3rd quarter. State Street Corp now owns 586,660 shares of the information technology services provider’s stock worth $13,071,000 after acquiring an additional 23,725 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Radware by 14.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 328,979 shares of the information technology services provider’s stock worth $7,330,000 after purchasing an additional 42,617 shares in the last quarter. Finally, Ellsworth Advisors LLC bought a new position in Radware in the fourth quarter valued at about $632,000. 73.12% of the stock is owned by institutional investors.

Radware Company Profile

Radware Ltd., together with its subsidiaries, develops, manufactures, and markets cyber security and application delivery solutions for cloud, on-premises, and software defined data centers worldwide. The company operates in two segments, Radware’s Core Business and The Hawks’ Business. It offers DefensePro provides automated DDoS protection; Radware Kubernetes, a web application firewall solution; and Cyber Controller, a unified solution for management, configuration, and attack lifecycle.