Bandwidth Inc. (NASDAQ:BAND) Short Interest Update

Bandwidth Inc. (NASDAQ:BAND) was the target of a significant drop in short interest in November. As of November 30th, there was short interest totalling 797,500 shares, a drop of 17.4% from the November 15th total of 965,200 shares. Based on an average daily volume of 241,100 shares, the days-to-cover ratio is currently 3.3 days.

Bandwidth Trading Down 4.5 %

BAND stock traded down $0.88 on Friday, reaching $18.71. The company’s stock had a trading volume of 170,892 shares, compared to its average volume of 305,697. 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 business has a fifty day simple moving average of $19.13 and a two-hundred day simple moving average of $18.25. The firm has a market cap of $514.71 million, a PE ratio of -20.12 and a beta of 1.51. Bandwidth has a 12-month low of $11.90 and a 12-month high of $25.02.

Bandwidth (NASDAQ:BAND) last announced its earnings results on Thursday, October 31st. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $182.05 million. During the same quarter in the previous year, the firm posted $0.03 EPS. The company’s revenue for the quarter was up 27.6% compared to the same quarter last year. As a group, research analysts forecast that Bandwidth will post 0.08 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Bandwidth in a research note on Friday, November 1st. JMP Securities reaffirmed a “market outperform” rating and issued a $36.00 target price on shares of Bandwidth in a research note on Tuesday, August 27th. Finally, Robert W. Baird increased their price target on shares of Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Bandwidth currently has an average rating of “Hold” and a consensus price target of $28.33.

Insider Activity at Bandwidth

In related news, insider Devin M. Krupka sold 3,658 shares of the business’s 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 sale, the insider now owns 11,097 shares in the company, valued at $235,922.22. The trade was a 24.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Richard Brandon Asbill sold 5,561 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $21.26, for a total transaction of $118,226.86. Following the completion of the sale, the general counsel now directly owns 41,825 shares of the company’s stock, valued at $889,199.50. This trade represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,733 shares of company stock valued at $948,310 over the last three months. 6.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Innealta Capital LLC bought a new position in Bandwidth in the second quarter worth $30,000. nVerses Capital LLC increased its stake in shares of Bandwidth by 80.0% in the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock worth $32,000 after acquiring an additional 800 shares in the last quarter. Quarry LP lifted its position in Bandwidth by 157.6% during the 3rd quarter. Quarry LP now owns 2,035 shares of the company’s stock valued at $36,000 after acquiring an additional 1,245 shares during the period. Redwood Wealth Management Group LLC bought a new stake in Bandwidth during the second quarter worth about $35,000. Finally, Daiwa Securities Group Inc. purchased a new stake in Bandwidth in the second quarter worth about $57,000. Institutional investors own 68.53% of the company’s stock.

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.