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

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

Insider Buying and Selling

In other news, insider Devin M. Krupka sold 3,658 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $21.26, for a total transaction of $77,769.08. Following the transaction, the insider now directly owns 11,097 shares in the company, valued at $235,922.22. The trade was a 24.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Daryl Raiford sold 4,371 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $20.70, for a total transaction of $90,479.70. Following the completion of the sale, the chief financial officer now owns 93,451 shares of the company’s stock, 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. Insiders sold a total of 51,417 shares of company stock worth $1,063,184 in the last 90 days. Company insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BAND. nVerses Capital LLC lifted its stake 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 in the last quarter. Quarry LP raised 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 worth $36,000 after acquiring an additional 1,245 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Bandwidth in the third quarter valued at $74,000. Quest Partners LLC acquired a new stake in shares of Bandwidth during the third quarter valued at $118,000. Finally, SG Americas Securities LLC boosted its stake in shares of Bandwidth by 14.5% during the fourth quarter. SG Americas Securities LLC now owns 11,102 shares of the company’s stock valued at $189,000 after acquiring an additional 1,407 shares during the last quarter. 68.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BAND has been the subject of several recent analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a report on Friday, November 1st. Robert W. Baird raised their target price on Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, Morgan Stanley upped their price target on shares of Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $28.83.

Bandwidth Price Performance

Shares of BAND stock traded down $0.17 during mid-day trading on Monday, reaching $17.60. The stock had a trading volume of 267,926 shares, compared to its average volume of 261,206. Bandwidth has a 12-month low of $11.90 and a 12-month high of $25.02. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.83. The business has a 50-day simple moving average of $18.11 and a 200 day simple moving average of $18.02. The company has a market cap of $484.18 million, a P/E ratio of -18.92 and a beta of 1.54.

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

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.