Radware Ltd. (NASDAQ:RDWR) Sees Significant Decrease in Short Interest

Radware Ltd. (NASDAQ:RDWR) was the target of a large drop in short interest in 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 stock are short sold. Based on an average daily trading volume, of 238,400 shares, the days-to-cover ratio is currently 1.4 days.

Radware Stock Performance

RDWR stock traded down $0.15 during trading on Tuesday, hitting $23.32. 180,538 shares of the company’s stock traded hands, compared to its average volume of 294,037. Radware has a 52 week low of $13.53 and a 52 week high of $24.21. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of -50.70 and a beta of 0.97. The business has a fifty day simple moving average of $21.80 and a 200 day simple moving average of $19.66.

Radware (NASDAQ:RDWR) last issued its quarterly earnings data on Wednesday, July 31st. The information technology services provider reported $0.08 earnings per share for the quarter. The company had revenue of $67.28 million for the quarter, compared to analysts’ expectations of $66.10 million. Radware had a negative return on equity of 0.72% and a negative net margin of 4.73%. Research analysts forecast that Radware will post 0.16 earnings per share for the current fiscal year.

Institutional Trading of Radware

Several institutional investors and hedge funds have recently made changes to their positions in RDWR. BNP Paribas Financial Markets boosted its position in Radware by 239.5% in the 1st quarter. BNP Paribas Financial Markets now owns 6,434 shares of the information technology services provider’s stock valued at $120,000 after buying an additional 4,539 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Radware in the 2nd quarter valued at about $120,000. Van ECK Associates Corp boosted its stake in shares of Radware by 16.4% during the second quarter. Van ECK Associates Corp now owns 9,164 shares of the information technology services provider’s stock valued at $167,000 after purchasing an additional 1,291 shares in the last quarter. Point72 DIFC Ltd purchased a new position in Radware during the second quarter valued at approximately $169,000. Finally, MQS Management LLC purchased a new stake in Radware during the second quarter worth $234,000. 73.12% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

About Radware

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.