Bandwidth Inc. (NASDAQ:BAND) Short Interest Update

Bandwidth Inc. (NASDAQ:BAND) was the recipient of a significant growth in short interest in the month of 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 volume of 245,400 shares, the short-interest ratio is presently 3.8 days.

Insiders Place Their Bets

In other news, CEO David A. Morken sold 2,777 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $17.39, for a total value of $48,292.03. Following the completion of the sale, the chief executive officer now owns 109,783 shares of the company’s stock, valued at $1,909,126.37. This trade represents a 2.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Devin M. Krupka sold 3,658 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $21.26, for a total value of $77,769.08. Following the completion of the transaction, the insider now owns 11,097 shares in the company, valued at $235,922.22. This represents a 24.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,417 shares of company stock worth $1,063,184 over the last ninety days. Company insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Bandwidth

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd lifted its position in shares of Bandwidth by 1.6% in the 4th 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 during the period. Los Angeles Capital Management LLC raised its position in Bandwidth by 3.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 21,221 shares of the company’s stock valued at $372,000 after buying an additional 740 shares during the last quarter. nVerses Capital LLC raised its position in Bandwidth by 80.0% in the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock valued at $32,000 after buying an additional 800 shares during the last quarter. Quarry LP grew its holdings in shares of Bandwidth by 157.6% in 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 in the last quarter. Finally, SG Americas Securities LLC boosted its position in Bandwidth by 14.5% during the fourth quarter. SG Americas Securities LLC now owns 11,102 shares of the company’s stock worth $189,000 after purchasing an additional 1,407 shares during the period. Institutional investors own 68.53% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Robert W. Baird boosted their price objective on Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. 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. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Bandwidth in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $28.83.

Bandwidth Stock Down 4.6 %

Shares of Bandwidth stock traded down $0.90 on Friday, reaching $18.71. 297,147 shares of the stock were exchanged, compared to its average volume of 233,107. The firm’s 50 day moving average is $17.61 and its 200-day moving average is $17.82. Bandwidth has a one year low of $11.90 and a one year 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 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.