Bandwidth Inc. (NASDAQ:BAND) Short Interest Update

Bandwidth Inc. (NASDAQ:BAND) was the recipient of a large increase in short interest in the month of February. As of February 27th, there was short interest totaling 1,278,515 shares, an increase of 15.1% from the February 12th total of 1,111,261 shares. Currently, 4.3% of the shares of the company are short sold. Based on an average daily volume of 640,549 shares, the days-to-cover ratio is currently 2.0 days. Based on an average daily volume of 640,549 shares, the days-to-cover ratio is currently 2.0 days. Currently, 4.3% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. B. Riley Financial began coverage on shares of Bandwidth in a research report on Friday, January 23rd. They set a “buy” rating and a $20.00 price objective on the stock. Wall Street Zen lowered Bandwidth from a “buy” rating to a “hold” rating in a report on Sunday, December 14th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Bandwidth in a research report on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.60.

Bandwidth Trading Up 0.7%

Shares of BAND stock opened at $15.04 on Wednesday. The stock has a 50-day simple moving average of $14.25 and a 200 day simple moving average of $15.05. The stock has a market capitalization of $472.06 million, a P/E ratio of -34.98 and a beta of 2.14. Bandwidth has a fifty-two week low of $11.33 and a fifty-two week high of $18.63. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.62.

Insider Transactions at Bandwidth

In related news, CFO Daryl E. Raiford sold 17,026 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $15.47, for a total transaction of $263,392.22. Following the transaction, the chief financial officer owned 52,745 shares in the company, valued at $815,965.15. This trade represents a 24.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 6.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC grew its position in Bandwidth by 183.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,776 shares of the company’s stock worth $60,000 after purchasing an additional 2,445 shares during the last quarter. State of Wyoming acquired a new position in Bandwidth during the 3rd quarter valued at about $71,000. Raymond James Financial Inc. acquired a new stake in shares of Bandwidth during the second quarter worth $85,000. Harbor Capital Advisors Inc. increased its stake in shares of Bandwidth by 30.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 7,509 shares of the company’s stock valued at $125,000 after acquiring an additional 1,748 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Bandwidth in the 2nd quarter valued at $128,000. Institutional investors and hedge funds own 68.53% of the company’s stock.

Bandwidth Company Profile

Bandwidth Inc operates a cloud-based communications platform that provides voice, messaging and emergency services APIs for enterprises and developers. Through its proprietary network and software-as-a-service model, the company enables customers to integrate programmable voice calls, text messaging and 9-1-1 routing into their applications. Bandwidth’s solutions aim to reduce complexity and improve reliability in mission-critical communications, serving industries such as healthcare, financial services, on-demand mobility and customer engagement.

Founded in 1999 in Raleigh, North Carolina by co-founders David Morken and Henry Kaestner, Bandwidth initially focused on voice-over-IP infrastructure before evolving into a full communications API provider.