Radware Ltd. (NASDAQ:RDWR) Sees Large Growth in Short Interest

Radware Ltd. (NASDAQ:RDWR) was the recipient of a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 248,400 shares, an increase of 34.3% from the September 15th total of 184,900 shares. Based on an average daily volume of 140,000 shares, the days-to-cover ratio is currently 1.8 days. Currently, 0.6% of the shares of the company are sold short.

Radware stock traded down $0.13 during mid-day trading on Monday, reaching $22.23. The company’s stock had a trading volume of 150,200 shares, compared to its average volume of 177,142. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 76.66, a PEG ratio of 2.52 and a beta of 0.92. The business has a 50 day moving average price of $23.98 and a 200-day moving average price of $24.73. Radware has a twelve month low of $21.43 and a twelve month high of $26.98.

Radware (NASDAQ:RDWR) last posted its earnings results on Wednesday, July 31st. The information technology services provider reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). The company had revenue of $60.50 million during the quarter, compared to the consensus estimate of $60.04 million. Radware had a net margin of 7.84% and a return on equity of 6.35%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.10 earnings per share. As a group, research analysts expect that Radware will post 0.5 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the business. Cadian Capital Management LP lifted its stake in Radware by 1.4% in the second quarter. Cadian Capital Management LP now owns 4,333,149 shares of the information technology services provider’s stock valued at $107,159,000 after buying an additional 60,400 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in Radware by 4.1% in the second quarter. Nuveen Asset Management LLC now owns 1,933,776 shares of the information technology services provider’s stock valued at $47,822,000 after buying an additional 75,928 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Radware by 2.9% in the second quarter. Acadian Asset Management LLC now owns 1,854,946 shares of the information technology services provider’s stock valued at $45,874,000 after buying an additional 53,101 shares during the last quarter. BlackRock Inc. lifted its stake in Radware by 24.7% in the second quarter. BlackRock Inc. now owns 695,912 shares of the information technology services provider’s stock valued at $17,209,000 after buying an additional 137,800 shares during the last quarter. Finally, Ibex Investors LLC lifted its stake in Radware by 42.4% in the second quarter. Ibex Investors LLC now owns 670,000 shares of the information technology services provider’s stock valued at $16,569,000 after buying an additional 199,600 shares during the last quarter. Institutional investors own 69.20% of the company’s stock.

A number of research firms have commented on RDWR. Zacks Investment Research downgraded shares of Radware from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. BidaskClub downgraded shares of Radware from a “sell” rating to a “strong sell” rating in a report on Saturday, September 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. Radware has an average rating of “Hold” and a consensus price target of $29.67.

Radware Company Profile

Radware Ltd. develops, manufactures, and markets cyber security and application delivery solutions for applications in physical, virtual, cloud, and software defined data centers worldwide. The company offers DefensePro, a real-time network attack prevention device; AppWall, a Web application firewall; and DefenseFlow, a cyber-command and control application.

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