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

Bandwidth Inc. (NASDAQ:BAND) saw a large increase in short interest in February. As of February 27th, there was short interest totaling 1,278,515 shares, an increase of 15.1% from the February 12th total of 1,111,261 shares. Based on an average trading volume of 640,549 shares, the short-interest ratio is presently 2.0 days. Approximately 4.3% of the shares of the stock are short sold. Approximately 4.3% of the shares of the stock are short sold. Based on an average trading volume of 640,549 shares, the short-interest ratio is presently 2.0 days.

Analyst Upgrades and Downgrades

BAND has been the subject of a number of analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Bandwidth in a research report on Wednesday, January 21st. Wall Street Zen downgraded Bandwidth from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th. Finally, 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 objective on the stock. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $20.60.

Insider Transactions at Bandwidth

In other Bandwidth news, CFO Daryl E. Raiford sold 16,100 shares of the stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $15.19, for a total value of $244,559.00. Following the completion of the sale, the chief financial officer owned 36,645 shares in the company, valued at approximately $556,637.55. This represents a 30.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Bandwidth

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

Bandwidth Trading Down 2.0%

BAND opened at $14.93 on Tuesday. Bandwidth has a one year low of $11.33 and a one year high of $18.63. The stock has a market capitalization of $468.65 million, a PE ratio of -34.72 and a beta of 2.14. The business’s 50 day moving average price is $14.24 and its 200 day moving average price is $15.05. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.42 and a current ratio of 1.42.

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.