Short Interest in Radware Ltd. (NASDAQ:RDWR) Increases By 20.9%

Radware Ltd. (NASDAQ:RDWR) was the recipient of a large growth in short interest in the month of January. As of January 30th, there was short interest totaling 966,583 shares, a growth of 20.9% from the January 15th total of 799,797 shares. Based on an average daily trading volume, of 220,997 shares, the short-interest ratio is currently 4.4 days. Approximately 2.9% of the company’s stock are short sold. Approximately 2.9% of the company’s stock are short sold. Based on an average daily trading volume, of 220,997 shares, the short-interest ratio is currently 4.4 days.

Radware Price Performance

Radware stock opened at $26.26 on Thursday. Radware has a fifty-two week low of $18.46 and a fifty-two week high of $31.57. The firm has a fifty day moving average price of $24.66 and a two-hundred day moving average price of $24.86. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 58.36 and a beta of 0.95.

Radware (NASDAQ:RDWR) last posted its quarterly earnings data on Wednesday, February 11th. The information technology services provider reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. The business had revenue of $80.25 million for the quarter, compared to analyst estimates of $78.65 million. Radware had a return on equity of 7.21% and a net margin of 6.71%.The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.27 earnings per share. As a group, sell-side analysts expect that Radware will post 0.28 earnings per share for the current year.

Radware announced that its board has authorized a stock buyback plan on Friday, February 13th that authorizes the company to repurchase $80.00 million in shares. This repurchase authorization authorizes the information technology services provider to reacquire up to 7.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Institutional Trading of Radware

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RDWR. Farther Finance Advisors LLC lifted its position in shares of Radware by 3,178.4% during the 4th quarter. Farther Finance Advisors LLC now owns 1,213 shares of the information technology services provider’s stock worth $29,000 after buying an additional 1,176 shares during the period. Simplex Trading LLC increased its stake in shares of Radware by 51.4% in the fourth quarter. Simplex Trading LLC now owns 1,544 shares of the information technology services provider’s stock valued at $37,000 after buying an additional 524 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its holdings in shares of Radware by 47.8% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 1,700 shares of the information technology services provider’s stock valued at $41,000 after buying an additional 550 shares during the last quarter. Global Retirement Partners LLC acquired a new position in Radware during the 4th quarter worth about $49,000. Finally, Pacer Advisors Inc. grew its holdings in Radware by 200.9% during the 3rd quarter. Pacer Advisors Inc. now owns 2,341 shares of the information technology services provider’s stock worth $62,000 after acquiring an additional 1,563 shares during the last quarter. Institutional investors own 73.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Radware in a research note on Monday, December 29th. Wall Street Zen cut shares of Radware from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Jefferies Financial Group set a $25.00 price objective on Radware in a research note on Tuesday, December 16th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Radware presently has a consensus rating of “Hold” and a consensus target price of $30.00.

About Radware

Radware Ltd. provides cybersecurity and application delivery solutions designed to ensure the availability, performance and security of mission‐critical applications. Its product portfolio includes on‐premises and cloud‐based offerings such as Alteon application delivery controllers, DefensePro network behavior analysis for DDoS mitigation and AppWall web application firewall. The company’s platforms use real‐time behavioral analysis, machine learning and automation to protect against distributed denial‐of‐service attacks, application layer threats and network intrusions.

Founded in 1997, Radware is co-headquartered in Tel Aviv, Israel, with a principal U.S.