Bandwidth Inc. (NASDAQ:BAND) Short Interest Update

Bandwidth Inc. (NASDAQ:BAND - Get Free Report) saw a significant drop in short interest in the month of December. As of December 15th, there was short interest totalling 749,900 shares, a drop of 6.0% from the November 30th total of 797,500 shares. Based on an average daily trading volume, of 246,600 shares, the short-interest ratio is currently 3.0 days.

Bandwidth Trading Up 0.8 %

Shares of Bandwidth stock traded up $0.13 on Tuesday, hitting $17.02. The stock had a trading volume of 280,742 shares, compared to its average volume of 302,649. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.83. Bandwidth has a one year low of $11.90 and a one year high of $25.02. The stock's 50-day simple moving average is $19.21 and its two-hundred day simple moving average is $18.07. The stock has a market cap of $468.22 million, a price-to-earnings ratio of -18.30 and a beta of 1.51.

Bandwidth (NASDAQ:BAND - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.11. The firm had revenue of $193.90 million for the quarter, compared to analysts' expectations of $182.05 million. Bandwidth had a negative net margin of 2.23% and a negative return on equity of 0.89%. The company's revenue for the quarter was up 27.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.03 earnings per share. As a group, sell-side analysts predict that Bandwidth will post 0.08 EPS for the current year.

Insider Activity at Bandwidth

In other Bandwidth news, CEO David A. Morken sold 15,410 shares of Bandwidth stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $21.26, for a total transaction of $327,616.60. Following the completion of the sale, the chief executive officer now directly owns 101,821 shares in the company, valued at $2,164,714.46. The trade was a 13.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Richard Brandon Asbill sold 5,561 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $21.26, for a total transaction of $118,226.86. Following the completion of the transaction, the general counsel now directly owns 41,825 shares in the company, valued at $889,199.50. The trade was a 11.74 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,733 shares of company stock valued at $948,310. Company insiders own 6.20% of the company's stock.

Institutional Investors Weigh In On Bandwidth

A number of large investors have recently made changes to their positions in BAND. Los Angeles Capital Management LLC increased its position in shares of Bandwidth by 3.6% during the third quarter. Los Angeles Capital Management LLC now owns 21,221 shares of the company's stock valued at $372,000 after buying an additional 740 shares during the period. nVerses Capital LLC lifted 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 valued at $32,000 after purchasing an additional 800 shares during the period. Quarry LP boosted its position in shares of Bandwidth by 157.6% during the third quarter. Quarry LP now owns 2,035 shares of the company's stock valued at $36,000 after purchasing an additional 1,245 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its stake in Bandwidth by 2.7% in the second quarter. Mercer Global Advisors Inc. ADV now owns 50,374 shares of the company's stock worth $850,000 after purchasing an additional 1,342 shares during the period. Finally, Versor Investments LP raised its holdings in Bandwidth by 14.0% in the second quarter. Versor Investments LP now owns 15,157 shares of the company's stock worth $256,000 after purchasing an additional 1,857 shares in the last quarter. 68.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on BAND shares. Needham & Company LLC reiterated a "hold" rating on shares of Bandwidth in a report on Friday, November 1st. Robert W. Baird upped their target price on Bandwidth from $19.00 to $22.00 and gave the stock a "neutral" rating in a research note on Friday, November 1st. Finally, Morgan Stanley lifted their price target on shares of Bandwidth from $17.00 to $18.00 and gave the stock an "underweight" rating in a research note on Wednesday, December 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Bandwidth has an average rating of "Hold" and a consensus price target of $28.83.

Bandwidth Company Profile

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.