Radware (NASDAQ:RDWR) Shares Down 4% – Here’s Why

Radware Ltd. (NASDAQ:RDWR) dropped 4% during trading on Friday . The company traded as low as $21.62 and last traded at $21.62. Approximately 28,829 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 286,862 shares. The stock had previously closed at $22.51.

Analyst Ratings Changes

RDWR has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Radware in a report on Wednesday, July 31st. StockNews.com raised Radware from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 21st. Finally, Barclays lifted their price objective on Radware from $23.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday.

Radware Stock Down 3.6 %

The stock has a market cap of $910.76 million, a PE ratio of -361.44 and a beta of 0.97. The firm has a 50 day moving average price of $22.01 and a 200 day moving average price of $20.10.

Radware (NASDAQ:RDWR) last issued its quarterly earnings data on Wednesday, July 31st. The information technology services provider reported $0.08 earnings per share for the quarter. Radware had a positive return on equity of 1.43% and a negative net margin of 0.85%. The company had revenue of $67.28 million for the quarter, compared to the consensus estimate of $66.10 million. Equities analysts forecast that Radware Ltd. will post 0.16 earnings per share for the current year.

Institutional Investors Weigh In On Radware

Institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC boosted its holdings in Radware by 2,346.9% in the second quarter. Millennium Management LLC now owns 380,689 shares of the information technology services provider’s stock worth $6,944,000 after acquiring an additional 365,131 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Radware in the second quarter worth about $4,453,000. Renaissance Technologies LLC boosted its holdings in Radware by 12.4% in the second quarter. Renaissance Technologies LLC now owns 1,749,823 shares of the information technology services provider’s stock worth $31,917,000 after acquiring an additional 193,689 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Radware by 7.1% in the second quarter. Acadian Asset Management LLC now owns 1,732,954 shares of the information technology services provider’s stock worth $31,577,000 after acquiring an additional 115,089 shares in the last quarter. Finally, Rice Hall James & Associates LLC boosted its holdings in Radware by 6.4% in the third quarter. Rice Hall James & Associates LLC now owns 931,651 shares of the information technology services provider’s stock worth $20,757,000 after acquiring an additional 56,116 shares in the last quarter. Institutional investors own 73.12% of the company’s stock.

About Radware

Radware Ltd., together with its subsidiaries, develops, manufactures, and markets cyber security and application delivery solutions for cloud, on-premises, and software defined data centers worldwide. The company operates in two segments, Radware’s Core Business and The Hawks’ Business. It offers DefensePro provides automated DDoS protection; Radware Kubernetes, a web application firewall solution; and Cyber Controller, a unified solution for management, configuration, and attack lifecycle.