Short Interest in Bandwidth Inc. (NASDAQ:BAND) Decreases By 11.7%

Bandwidth Inc. (NASDAQ:BAND) was the recipient of a significant decline in short interest in the month of April. As of April 30th, there was short interest totalling 1,210,000 shares, a decline of 11.7% from the April 15th total of 1,370,000 shares. Based on an average daily trading volume, of 395,300 shares, the days-to-cover ratio is currently 3.1 days.

Insider Buying and Selling at Bandwidth

In other news, COO Anthony Bartolo sold 7,798 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $18.75, for a total transaction of $146,212.50. Following the completion of the transaction, the chief operating officer now owns 76,469 shares in the company, valued at approximately $1,433,793.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Anthony Bartolo sold 7,798 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $18.75, for a total transaction of $146,212.50. Following the sale, the chief operating officer now directly owns 76,469 shares in the company, valued at approximately $1,433,793.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Devin M. Krupka sold 2,500 shares of Bandwidth stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $21.61, for a total transaction of $54,025.00. Following the completion of the transaction, the insider now owns 7,262 shares of the company’s stock, valued at $156,931.82. The disclosure for this sale can be found here. Insiders have sold a total of 15,124 shares of company stock worth $295,098 over the last ninety days. 6.20% of the stock is currently owned by company insiders.

Institutional Trading of Bandwidth

Several large investors have recently modified their holdings of the business. Ameritas Investment Partners Inc. increased its stake in shares of Bandwidth by 31.6% during the first quarter. Ameritas Investment Partners Inc. now owns 2,355 shares of the company’s stock valued at $43,000 after buying an additional 565 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in shares of Bandwidth during the 3rd quarter valued at $75,000. Headlands Technologies LLC grew its position in shares of Bandwidth by 21.3% in the 3rd quarter. Headlands Technologies LLC now owns 9,315 shares of the company’s stock worth $105,000 after buying an additional 1,636 shares during the period. Raymond James & Associates bought a new position in shares of Bandwidth in the 3rd quarter worth about $115,000. Finally, Quest Partners LLC bought a new stake in Bandwidth during the fourth quarter worth about $145,000. 68.53% of the stock is owned by institutional investors.

Bandwidth Price Performance

Shares of NASDAQ:BAND opened at $22.39 on Thursday. Bandwidth has a 52 week low of $9.34 and a 52 week high of $25.02. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 1.41. The company’s fifty day moving average is $18.86 and its 200 day moving average is $15.31. The stock has a market cap of $588.19 million, a PE ratio of -19.99 and a beta of 1.44.

Bandwidth (NASDAQ:BAND) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Bandwidth had a negative net margin of 4.60% and a negative return on equity of 2.49%. The company had revenue of $165.00 million for the quarter, compared to analysts’ expectations of $154.17 million. During the same period last year, the company posted $0.04 EPS. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. Research analysts anticipate that Bandwidth will post 0.19 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have commented on BAND shares. Barclays raised their price target on shares of Bandwidth from $22.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. KeyCorp lifted their price target on Bandwidth from $21.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. Robert W. Baird raised their target price on shares of Bandwidth from $21.00 to $25.00 and gave the company a “neutral” rating in a research note on Wednesday, May 8th. Canaccord Genuity Group boosted their price target on shares of Bandwidth from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Bandwidth in a research note on Friday, May 10th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $25.38.

About Bandwidth

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.