Bandwidth Inc. (NASDAQ:BAND) Short Interest Update

Bandwidth Inc. (NASDAQ:BAND) was the recipient of a large decline in short interest in the month of December. As of December 15th, there was short interest totalling 749,900 shares, a decline of 6.0% from the November 30th total of 797,500 shares. Based on an average daily trading volume, of 246,600 shares, the short-interest ratio is presently 3.0 days.

Insiders Place Their Bets

In other Bandwidth news, General Counsel Richard Brandon Asbill sold 5,561 shares of Bandwidth stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $21.26, for a total transaction of $118,226.86. Following the transaction, the general counsel now owns 41,825 shares of the company’s stock, valued at $889,199.50. The trade was a 11.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO David A. Morken sold 15,410 shares of Bandwidth stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $21.26, for a total value of $327,616.60. Following the transaction, the chief executive officer now directly owns 101,821 shares in the company, valued at approximately $2,164,714.46. This trade represents a 13.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,733 shares of company stock worth $948,310. Company insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Bandwidth

A number of large investors have recently added to or reduced their stakes in BAND. Point72 Asset Management L.P. boosted its position in Bandwidth by 411.1% during the second quarter. Point72 Asset Management L.P. now owns 597,933 shares of the company’s stock worth $10,093,000 after purchasing an additional 480,933 shares during the period. Acadian Asset Management LLC boosted its position in Bandwidth by 79.8% during the second quarter. Acadian Asset Management LLC now owns 613,612 shares of the company’s stock worth $10,353,000 after purchasing an additional 272,309 shares during the period. Assenagon Asset Management S.A. boosted its position in Bandwidth by 185.5% during the third quarter. Assenagon Asset Management S.A. now owns 341,921 shares of the company’s stock worth $5,987,000 after purchasing an additional 222,142 shares during the period. FMR LLC boosted its position in Bandwidth by 70.3% during the third quarter. FMR LLC now owns 371,215 shares of the company’s stock worth $6,500,000 after purchasing an additional 153,223 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Bandwidth by 35.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 324,199 shares of the company’s stock worth $5,677,000 after purchasing an additional 83,979 shares during the period. Institutional investors own 68.53% of the company’s stock.

Bandwidth Trading Up 0.8 %

Shares of NASDAQ BAND opened at $17.02 on Thursday. The stock has a market cap of $468.22 million, a price-to-earnings ratio of -18.30 and a beta of 1.51. The business has a 50 day simple moving average of $19.15 and a 200 day simple moving average of $18.07. Bandwidth has a 52 week low of $11.90 and a 52 week high of $25.02. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.29 and a current ratio of 1.29.

Bandwidth (NASDAQ:BAND) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.32 by $0.11. The business had revenue of $193.90 million during the quarter, compared to analysts’ expectations of $182.05 million. Bandwidth had a negative return on equity of 0.89% and a negative net margin of 2.23%. The firm’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.03 EPS. On average, research analysts predict that Bandwidth will post 0.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

About Bandwidth

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.