Radware Ltd. (NASDAQ:RDWR) Sees Large Drop in Short Interest

Radware Ltd. (NASDAQ:RDWR) saw a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 343,900 shares, a drop of 24.2% from the September 15th total of 453,600 shares. Currently, 1.1% of the shares of the company are sold short. Based on an average trading volume of 238,400 shares, the short-interest ratio is currently 1.4 days.

Radware Trading Down 1.2 %

RDWR traded down $0.27 during midday trading on Tuesday, hitting $23.20. 90,609 shares of the company were exchanged, compared to its average volume of 293,585. The company’s 50 day simple moving average is $21.80 and its 200 day simple moving average is $19.66. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -51.02 and a beta of 0.97. Radware has a 1-year low of $13.53 and a 1-year high of $24.21.

Radware (NASDAQ:RDWR) last posted its earnings results on Wednesday, July 31st. The information technology services provider reported $0.08 EPS for the quarter. Radware had a negative return on equity of 0.72% and a negative net margin of 4.73%. The firm had revenue of $67.28 million for the quarter, compared to analyst estimates of $66.10 million. On average, equities analysts anticipate that Radware will post 0.16 EPS for the current year.

Hedge Funds Weigh In On Radware

Several large investors have recently made changes to their positions in RDWR. BNP Paribas Financial Markets raised its position in shares of Radware by 239.5% in the first quarter. BNP Paribas Financial Markets now owns 6,434 shares of the information technology services provider’s stock worth $120,000 after acquiring an additional 4,539 shares during the period. California State Teachers Retirement System boosted its position in Radware by 9.7% during the first quarter. California State Teachers Retirement System now owns 40,705 shares of the information technology services provider’s stock worth $762,000 after purchasing an additional 3,599 shares in the last quarter. Tidal Investments LLC acquired a new stake in Radware in the first quarter valued at approximately $494,000. ARK Investment Management LLC increased its position in shares of Radware by 7.0% in the second quarter. ARK Investment Management LLC now owns 133,559 shares of the information technology services provider’s stock valued at $2,436,000 after buying an additional 8,715 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in shares of Radware by 67.1% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 97,441 shares of the information technology services provider’s stock valued at $1,777,000 after buying an additional 39,117 shares in the last quarter. 73.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on RDWR shares. Needham & Company LLC reiterated a “hold” rating on shares of Radware in a research note on Wednesday, July 31st. StockNews.com upgraded Radware from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 21st. Finally, Barclays raised their price target on shares of Radware from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st.

Radware Company Profile

Radware Ltd., together with its subsidiaries, develops, manufactures, and markets cyber security and application delivery solutions for cloud, on-premises, and software defined data centers worldwide. The company operates in two segments, Radware’s Core Business and The Hawks’ Business. It offers DefensePro provides automated DDoS protection; Radware Kubernetes, a web application firewall solution; and Cyber Controller, a unified solution for management, configuration, and attack lifecycle.