Bandwidth Inc. (NASDAQ:BAND) Short Interest Update

Bandwidth Inc. (NASDAQ:BAND) was the recipient of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 922,200 shares, an increase of 13.6% from the January 15th total of 811,500 shares. Based on an average daily trading volume, of 245,400 shares, the days-to-cover ratio is presently 3.8 days.

Bandwidth Stock Down 4.6 %

Shares of NASDAQ BAND traded down $0.90 during mid-day trading on Friday, reaching $18.71. 297,147 shares of the company traded hands, compared to its average volume of 233,107. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.29 and a current ratio of 1.29. Bandwidth has a fifty-two week low of $11.90 and a fifty-two week high of $25.02. The company’s fifty day moving average is $17.61 and its two-hundred day moving average is $17.82.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BAND. Robert W. Baird increased their price objective on shares of Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Morgan Stanley raised their price objective on Bandwidth from $17.00 to $18.00 and gave the stock an “underweight” rating in a report on Wednesday, December 18th. Finally, Needham & Company LLC restated a “hold” rating on shares of Bandwidth in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $28.83.

Insider Activity

In other news, General Counsel Richard Brandon Asbill sold 5,561 shares of Bandwidth stock in a transaction on Friday, November 29th. The shares were sold at an average price of $21.26, for a total transaction of $118,226.86. Following the completion of the sale, the general counsel now directly owns 41,825 shares of the company’s stock, valued at approximately $889,199.50. The trade was a 11.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Devin M. Krupka sold 3,658 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $21.26, for a total value of $77,769.08. Following the completion of the transaction, the insider now directly owns 11,097 shares of the company’s stock, valued at $235,922.22. This trade represents a 24.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,417 shares of company stock valued at $1,063,184. 6.20% of the stock is currently owned by company insiders.

Institutional Trading of Bandwidth

Large investors have recently added to or reduced their stakes in the company. Covestor Ltd bought a new stake in shares of Bandwidth during the fourth quarter worth $25,000. nVerses Capital LLC boosted its stake in Bandwidth by 80.0% during the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock worth $32,000 after acquiring an additional 800 shares during the last quarter. Quarry LP raised 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 worth $36,000 after purchasing an additional 1,245 shares during the period. New Age Alpha Advisors LLC acquired a new stake in shares of Bandwidth during the fourth quarter worth about $50,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Bandwidth in the fourth quarter valued at about $69,000. 68.53% of the stock is owned by institutional investors.

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.