Bandwidth Inc. (NASDAQ:BAND) Short Interest Down 22.6% in August

Bandwidth Inc. (NASDAQ:BAND) was the target of a large drop in short interest in August. As of August 15th, there was short interest totaling 1,060,000 shares, adropof22.6% from the July 31st total of 1,370,000 shares. Based on an average daily volume of 269,300 shares, the days-to-cover ratio is currently 3.9 days. Based on an average daily volume of 269,300 shares, the days-to-cover ratio is currently 3.9 days.

Analysts Set New Price Targets

A number of research firms have commented on BAND. JMP Securities reaffirmed a “market outperform” rating and issued a $36.00 target price on shares of Bandwidth in a research report on Thursday, May 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price objective on shares of Bandwidth in a research report on Friday, June 13th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.80.

Insider Buying and Selling

In other news, COO Devesh Agarwal sold 2,132 shares of Bandwidth stock in a transaction on Monday, August 11th. The stock was sold at an average price of $13.30, for a total transaction of $28,355.60. Following the transaction, the chief operating officer owned 62,927 shares in the company, valued at $836,929.10. The trade was a 3.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Richard Brandon Asbill sold 1,852 shares of the company’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $15.09, for a total transaction of $27,946.68. Following the completion of the sale, the general counsel directly owned 51,617 shares of the company’s stock, valued at $778,900.53. This represents a 3.46% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,143 shares of company stock valued at $393,259. 6.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bandwidth

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Bandwidth by 4.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,185 shares of the company’s stock worth $241,000 after acquiring an additional 608 shares during the last quarter. Rhumbline Advisers grew its position in Bandwidth by 3.7% during the 1st quarter. Rhumbline Advisers now owns 35,603 shares of the company’s stock worth $466,000 after purchasing an additional 1,255 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Bandwidth by 10.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,182 shares of the company’s stock valued at $293,000 after purchasing an additional 1,658 shares during the period. Algert Global LLC raised its holdings in shares of Bandwidth by 10.4% in the fourth quarter. Algert Global LLC now owns 18,280 shares of the company’s stock valued at $311,000 after buying an additional 1,720 shares during the last quarter. Finally, AlphaQuest LLC raised its stake in Bandwidth by 10.0% during the 1st quarter. AlphaQuest LLC now owns 19,451 shares of the company’s stock valued at $255,000 after acquiring an additional 1,767 shares during the last quarter. Hedge funds and other institutional investors own 68.53% of the company’s stock.

Bandwidth Stock Performance

Shares of Bandwidth stock opened at $15.74 on Tuesday. The business has a 50-day simple moving average of $14.90 and a 200-day simple moving average of $14.30. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.31 and a current ratio of 1.31. Bandwidth has a one year low of $11.33 and a one year high of $23.00. The company has a market cap of $474.40 million, a PE ratio of -46.17 and a beta of 1.81.

Bandwidth (NASDAQ:BAND) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.06. The business had revenue of $180.01 million during the quarter, compared to analysts’ expectations of $178.87 million. Bandwidth had a negative net margin of 1.32% and a positive return on equity of 1.43%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.29 EPS. Bandwidth has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, equities research analysts forecast that Bandwidth will post 0.22 EPS for the current fiscal year.

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.