Bandwidth Inc. (NASDAQ:BAND) Given Consensus Rating of “Hold” by Brokerages

Shares of Bandwidth Inc. (NASDAQ:BAND) have received a consensus recommendation of “Hold” from the seven analysts that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $20.60.

A number of research analysts have commented on the stock. B. Riley Financial assumed coverage on shares of Bandwidth in a research report on Friday, January 23rd. They issued a “buy” rating and a $20.00 target price on the stock. Wall Street Zen cut shares of Bandwidth from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Bandwidth in a research note on Wednesday, January 21st.

Bandwidth Stock Performance

NASDAQ BAND opened at $16.86 on Monday. The stock has a market cap of $529.18 million, a PE ratio of -39.21 and a beta of 2.14. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.62. Bandwidth has a twelve month low of $11.33 and a twelve month high of $18.63. The stock has a fifty day simple moving average of $14.62 and a 200-day simple moving average of $15.09.

Insiders Place Their Bets

In related news, CFO Daryl E. Raiford sold 16,100 shares of Bandwidth stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $15.19, for a total value of $244,559.00. Following the completion of the sale, the chief financial officer owned 36,645 shares in the company, valued at approximately $556,637.55. This trade represents a 30.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC grew its stake in shares of Bandwidth by 183.7% in the second quarter. Tower Research Capital LLC TRC now owns 3,776 shares of the company’s stock valued at $60,000 after buying an additional 2,445 shares in the last quarter. State of Wyoming acquired a new position in Bandwidth during the 3rd quarter worth about $71,000. Raymond James Financial Inc. acquired a new position in Bandwidth during the 2nd quarter worth about $85,000. Harbor Capital Advisors Inc. boosted its holdings in Bandwidth by 30.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 7,509 shares of the company’s stock valued at $125,000 after acquiring an additional 1,748 shares during the period. Finally, Quantbot Technologies LP purchased a new position in Bandwidth during the 2nd quarter valued at about $128,000. 68.53% of the stock is currently owned by hedge funds and other institutional investors.

About Bandwidth

Bandwidth Inc operates a cloud-based communications platform that provides voice, messaging and emergency services APIs for enterprises and developers. Through its proprietary network and software-as-a-service model, the company enables customers to integrate programmable voice calls, text messaging and 9-1-1 routing into their applications. Bandwidth’s solutions aim to reduce complexity and improve reliability in mission-critical communications, serving industries such as healthcare, financial services, on-demand mobility and customer engagement.

Founded in 1999 in Raleigh, North Carolina by co-founders David Morken and Henry Kaestner, Bandwidth initially focused on voice-over-IP infrastructure before evolving into a full communications API provider.