Radware (NASDAQ:RDWR) Trading Down 4% - Here's Why

Radware Ltd. (NASDAQ:RDWR - Get Free Report)'s stock price traded down 4% during mid-day trading on Friday . The stock traded as low as $21.62 and last traded at $21.62. 28,829 shares were traded during mid-day trading, a decline of 90% from the average session volume of 286,862 shares. The stock had previously closed at $22.51.

Analysts Set New Price Targets

A number of research firms have weighed in on RDWR. Barclays lifted their price objective on Radware from $23.00 to $30.00 and gave the company an "overweight" rating in a report on Thursday. StockNews.com raised Radware from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, August 21st. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Radware in a research note on Wednesday, July 31st.

Radware Price Performance

The company has a market cap of $910.87 million, a P/E ratio of -74.59 and a beta of 0.97. The business's 50 day moving average price is $22.02 and its 200-day moving average price is $20.06.

Radware (NASDAQ:RDWR - Get Free Report) last announced its earnings results on Wednesday, July 31st. The information technology services provider reported $0.08 EPS for the quarter. Radware had a negative return on equity of 0.72% and a negative net margin of 4.73%. The company had revenue of $67.28 million for the quarter, compared to analysts' expectations of $66.10 million. As a group, research analysts forecast that Radware Ltd. will post 0.16 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its holdings in Radware by 239.5% in the first quarter. BNP Paribas Financial Markets now owns 6,434 shares of the information technology services provider's stock valued at $120,000 after buying an additional 4,539 shares during the period. California State Teachers Retirement System boosted its position in shares of Radware by 9.7% in the 1st quarter. California State Teachers Retirement System now owns 40,705 shares of the information technology services provider's stock worth $762,000 after purchasing an additional 3,599 shares during the last quarter. Tidal Investments LLC acquired a new stake in shares of Radware during the first quarter worth $494,000. ARK Investment Management LLC increased its holdings in Radware by 7.0% in the second quarter. ARK Investment Management LLC now owns 133,559 shares of the information technology services provider's stock valued at $2,436,000 after purchasing an additional 8,715 shares during the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its stake in Radware by 67.1% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 97,441 shares of the information technology services provider's stock valued at $1,777,000 after buying an additional 39,117 shares during the period. 73.12% of the stock is currently owned by institutional investors.

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.