Bandwidth Inc. (NASDAQ:BAND) Short Interest Update

Bandwidth Inc. (NASDAQ:BAND) was the target of a large increase in short interest in June. As of June 15th, there was short interest totalling 1,240,000 shares, an increase of 26.7% from the May 31st total of 978,900 shares. Based on an average daily volume of 286,400 shares, the days-to-cover ratio is presently 4.3 days.

Insider Buying and Selling

In other Bandwidth news, insider Devin M. Krupka sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $21.61, for a total value of $54,025.00. Following the sale, the insider now owns 7,262 shares in the company, valued at $156,931.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Bandwidth news, Director Lukas M. Roush bought 4,963 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were acquired at an average cost of $16.12 per share, for a total transaction of $80,003.56. Following the transaction, the director now directly owns 43,167 shares in the company, valued at $695,852.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Devin M. Krupka sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $21.61, for a total transaction of $54,025.00. Following the sale, the insider now directly owns 7,262 shares in the company, valued at $156,931.82. The disclosure for this sale can be found here. Insiders sold a total of 27,729 shares of company stock worth $566,540 in the last three months. 6.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bandwidth

Several hedge funds and other institutional investors have recently modified their holdings of BAND. G2 Investment Partners Management LLC acquired a new stake in Bandwidth in the 4th quarter valued at $4,079,000. Swiss National Bank grew its holdings in shares of Bandwidth by 3.0% during the third quarter. Swiss National Bank now owns 51,900 shares of the company’s stock valued at $585,000 after buying an additional 1,500 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Bandwidth by 3.0% during the third quarter. Vanguard Group Inc. now owns 1,480,343 shares of the company’s stock worth $16,683,000 after acquiring an additional 43,411 shares in the last quarter. Palogic Value Management L.P. raised its holdings in shares of Bandwidth by 17.0% in the 4th quarter. Palogic Value Management L.P. now owns 300,000 shares of the company’s stock worth $4,341,000 after acquiring an additional 43,675 shares during the last quarter. Finally, Oak Harbor Wealth Partners LLC bought a new position in Bandwidth in the 4th quarter valued at about $224,000. Institutional investors own 68.53% of the company’s stock.

Bandwidth Stock Up 0.4 %

Shares of NASDAQ BAND opened at $16.88 on Monday. Bandwidth has a 12-month low of $9.34 and a 12-month high of $25.02. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.36 and a quick ratio of 2.36. The company’s fifty day simple moving average is $19.28 and its 200 day simple moving average is $16.98.

Bandwidth (NASDAQ:BAND) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08). Bandwidth had a negative return on equity of 2.49% and a negative net margin of 4.60%. The company had revenue of $171.03 million for the quarter, compared to the consensus estimate of $165.10 million. On average, equities analysts predict that Bandwidth will post 0.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on BAND shares. KeyCorp increased their price objective on Bandwidth from $21.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Morgan Stanley downgraded Bandwidth from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $18.00 to $15.00 in a research report on Friday, June 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Bandwidth in a research note on Friday, May 10th. Barclays increased their target price on shares of Bandwidth from $22.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. Finally, Robert W. Baird boosted their price target on shares of Bandwidth from $21.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Bandwidth presently has a consensus rating of “Hold” and a consensus price target of $25.63.

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.