By otakuyassine3@gmail.com 
Bandwidth Inc. (NASDAQ:BAND – Get Free Report) was the target of a large decrease in short interest in November. As of November 30th, there was short interest totalling 797,500 shares, a decrease of 17.4% from the November 15th total of 965,200 shares. Based on an average daily trading volume, of 241,100 shares, the short-interest ratio is currently 3.3 days.
Bandwidth Stock Down 4.5 %
Bandwidth stock traded down $0.88 during midday trading on Friday, reaching $18.71. The stock had a trading volume of 170,892 shares, compared to its average volume of 305,697. The company has a market capitalization of $514.71 million, a P/E ratio of -20.12 and a beta of 1.51. The company has a fifty day moving average price of $19.13 and a two-hundred day moving average price of $18.24. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.83. Bandwidth has a 12 month low of $11.90 and a 12 month high of $25.02.
Bandwidth (NASDAQ:BAND – Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.11. Bandwidth had a negative return on equity of 0.89% and a negative net margin of 2.23%. The firm had revenue of $193.90 million for the quarter, compared to the consensus estimate of $182.05 million. During the same quarter in the previous year, the business earned $0.03 EPS. The company’s revenue was up 27.6% compared to the same quarter last year. As a group, equities analysts expect that Bandwidth will post 0.08 EPS for the current fiscal year.
Analyst Ratings Changes
A number of research firms recently issued reports on BAND. Needham & Company LLC reiterated a “hold” rating on shares of Bandwidth in a research report on Friday, November 1st. Robert W. Baird raised their price objective on Bandwidth from $19.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $36.00 target price on shares of Bandwidth in a report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $28.33.
Read Our Latest Research Report on Bandwidth
Insider Activity at Bandwidth
In other news, CFO Daryl Raiford sold 10,389 shares of Bandwidth stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $21.26, for a total transaction of $220,870.14. Following the completion of the transaction, the chief financial officer now directly owns 87,220 shares in the company, valued at approximately $1,854,297.20. The trade was a 10.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David A. Morken sold 15,410 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 $327,616.60. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 44,733 shares of company stock worth $948,310 in the last quarter. Corporate insiders own 6.20% of the company’s stock.
Institutional Investors Weigh In On Bandwidth
Hedge funds and other institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its holdings in Bandwidth by 10.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,713 shares of the company’s stock worth $269,000 after purchasing an additional 1,334 shares in the last quarter. Baillie Gifford & Co. lifted its stake in Bandwidth by 40.6% in the 2nd quarter. Baillie Gifford & Co. now owns 30,412 shares of the company’s stock worth $513,000 after purchasing an additional 8,789 shares in the last quarter. Panagora Asset Management Inc. boosted its holdings in Bandwidth by 50.0% in the 2nd quarter. Panagora Asset Management Inc. now owns 139,592 shares of the company’s stock valued at $2,356,000 after purchasing an additional 46,547 shares during the period. Innealta Capital LLC purchased a new position in shares of Bandwidth during the 2nd quarter valued at $30,000. Finally, Hussman Strategic Advisors Inc. increased its holdings in shares of Bandwidth by 20.0% in the second quarter. Hussman Strategic Advisors Inc. now owns 126,000 shares of the company’s stock worth $2,127,000 after purchasing an additional 21,000 shares during the period. Institutional investors own 68.53% of the company’s stock.
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.
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