Bandwidth Inc. (NASDAQ:BAND) Short Interest Up 13.0% in December

Bandwidth Inc. (NASDAQ:BAND) saw a large increase in short interest in December. As of December 31st, there was short interest totalling 847,600 shares, an increase of 13.0% from the December 15th total of 749,900 shares. Based on an average daily volume of 261,700 shares, the days-to-cover ratio is currently 3.2 days.

Bandwidth Trading Down 0.1 %

Shares of NASDAQ BAND traded down $0.01 during midday trading on Friday, reaching $15.68. The stock had a trading volume of 121,094 shares, compared to its average volume of 207,653. Bandwidth has a twelve month low of $11.90 and a twelve month 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. The company’s 50 day moving average price is $18.50 and its 200 day moving average price is $18.08. The firm has a market cap of $431.36 million, a price-to-earnings ratio of -16.86 and a beta of 1.52.

Bandwidth (NASDAQ:BAND) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.11. Bandwidth had a negative return on equity of 0.89% and a negative net margin of 2.23%. The firm had revenue of $193.90 million during the quarter, compared to analyst estimates of $182.05 million. During the same period last year, the company posted $0.03 EPS. The business’s quarterly revenue was up 27.6% on a year-over-year basis. As a group, sell-side analysts expect that Bandwidth will post 0.08 EPS for the current year.

Insider Transactions at Bandwidth

In other Bandwidth news, CEO David A. Morken sold 2,777 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $17.39, for a total transaction of $48,292.03. Following the completion of the sale, the chief executive officer now directly owns 109,783 shares in the company, valued at $1,909,126.37. This represents a 2.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Daryl Raiford sold 4,371 shares of Bandwidth stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $20.70, for a total value of $90,479.70. Following the completion of the transaction, the chief financial officer now owns 93,451 shares in the company, valued at approximately $1,934,435.70. The trade was a 4.47 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,023 shares of company stock valued at $1,057,162. 6.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bandwidth

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Los Angeles Capital Management LLC raised its position in shares of Bandwidth by 3.6% during the third quarter. Los Angeles Capital Management LLC now owns 21,221 shares of the company’s stock worth $372,000 after purchasing an additional 740 shares during the period. nVerses Capital LLC grew its holdings in shares of 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 buying an additional 800 shares during the last quarter. Quarry LP increased its position in shares of Bandwidth by 157.6% during the third quarter. Quarry LP now owns 2,035 shares of the company’s stock worth $36,000 after acquiring an additional 1,245 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its position in Bandwidth by 2.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 50,374 shares of the company’s stock valued at $850,000 after acquiring an additional 1,342 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in Bandwidth by 14.5% during the 4th quarter. SG Americas Securities LLC now owns 11,102 shares of the company’s stock valued at $189,000 after purchasing an additional 1,407 shares during the last quarter. 68.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on BAND shares. Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a research report on Friday, November 1st. Morgan Stanley boosted their price objective on Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 18th. Finally, Robert W. Baird lifted their price target on Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock 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.