Short Interest in Radware Ltd. (NASDAQ:RDWR) Grows By 34.3%

Radware Ltd. (NASDAQ:RDWR) was the recipient of a significant increase in short interest in October. As of October 31st, there was short interest totalling 248,400 shares, an increase of 34.3% from the September 30th total of 184,900 shares. Approximately 0.6% of the company’s stock are sold short. Based on an average trading volume of 140,000 shares, the days-to-cover ratio is currently 1.8 days.

Hedge funds have recently made changes to their positions in the business. Optimum Investment Advisors acquired a new position in Radware during the third quarter valued at approximately $32,000. Quantamental Technologies LLC grew its stake in shares of Radware by 324.2% in the second quarter. Quantamental Technologies LLC now owns 2,346 shares of the information technology services provider’s stock worth $58,000 after acquiring an additional 1,793 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new stake in shares of Radware in the second quarter worth $101,000. Wells Fargo & Company MN grew its stake in shares of Radware by 127.7% in the second quarter. Wells Fargo & Company MN now owns 4,948 shares of the information technology services provider’s stock worth $122,000 after acquiring an additional 2,775 shares during the last quarter. Finally, Dupont Capital Management Corp grew its stake in shares of Radware by 50.0% in the second quarter. Dupont Capital Management Corp now owns 6,000 shares of the information technology services provider’s stock worth $148,000 after acquiring an additional 2,000 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

RDWR stock traded up $0.11 during midday trading on Tuesday, hitting $23.43. 388 shares of the company traded hands, compared to its average volume of 127,606. Radware has a twelve month low of $21.43 and a twelve month high of $26.98. The business has a 50 day simple moving average of $23.37 and a 200-day simple moving average of $24.46. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 80.31, a price-to-earnings-growth ratio of 2.39 and a beta of 0.89.

Radware (NASDAQ:RDWR) last announced its quarterly earnings results on Wednesday, November 6th. The information technology services provider reported $0.25 EPS for the quarter, beating the consensus estimate of $0.12 by $0.13. Radware had a return on equity of 7.41% and a net margin of 9.33%. The company had revenue of $62.86 million for the quarter, compared to the consensus estimate of $62.84 million. During the same quarter last year, the company posted $0.15 earnings per share. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. Research analysts anticipate that Radware will post 0.54 earnings per share for the current fiscal year.

Several equities analysts recently weighed in on RDWR shares. Zacks Investment Research raised shares of Radware from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research report on Saturday. BidaskClub downgraded Radware from a “sell” rating to a “strong sell” rating in a report on Saturday, September 7th. One research analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $28.00.

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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