KD Logo

Morgan Stanley downgrades Bandwidth Inc (BAND) stock to an Underweight

NUE

In a filing, Bandwidth Inc revealed its insider Agarwal Devesh unloaded Company’s shares for reported $34493.0 on Aug 09 ’24. In the deal valued at $15.48 per share,2,228 shares were sold. As a result of this transaction, Agarwal Devesh now holds 24,690 shares worth roughly $0.4 million.

3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free
Sponsored

Then, Raiford Daryl sold 1,769 shares, generating $39,312 in total proceeds. Upon selling the shares at $22.22, the Chief Financial Officer now owns 63,397 shares.

Before that, Ross Kade sold 3,500 shares. Bandwidth Inc shares valued at $59,205 were divested by the Chief Information Officer at a price of $16.92 per share. As a result of the transaction, Ross Kade now holds 23,322 shares, worth roughly $0.38 million.

Morgan Stanley downgraded its Bandwidth Inc [BAND] rating to an Underweight from a an Equal-weight in a research note published on June 14, 2024; the price target was decreased to $15 from $18. A number of analysts have revised their coverage, including Piper Sandler’s analysts, who decreased its forecast for the stock in mid January from “an Overweight” to “a Neutral”. KeyBanc Capital Markets began covering BAND with “an Overweight” recommendation on September 13, 2022. Robert W. Baird revised its rating on May 16, 2022. It rated BAND as “a Neutral” which previously was an “an Outperform”.

Price Performance Review of BAND

On Tuesday, Bandwidth Inc [NASDAQ:BAND] saw its stock jump 4.81% to $16.11. Over the last five days, the stock has gained 1.96%. Bandwidth Inc shares have risen nearly 11.33% since the year began. Nevertheless, the stocks have risen 17.25% over the past one year. While a 52-week high of $25.02 was reached on 05/07/24, a 52-week low of $9.34 was recorded on 02/26/24. SMA at 50 days reached $18.23, while 200 days put it at $16.34.

Levels Of Support And Resistance For BAND Stock

The 24-hour chart illustrates a support level at 15.57, which if violated will result in even more drops to 15.02. On the upside, there is a resistance level at 16.48. A further resistance level may holdings at 16.84. The Relative Strength Index (RSI) on the 14-day chart is 40.44, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.27, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 74.98%. Stochastics%K at 21.59% indicates the stock is a holding.

How much short interest is there in Bandwidth Inc?

A steep rise in short interest was recorded in Bandwidth Inc stocks on , dropping by -0.39 million shares to a total of 0.96 million shares. Yahoo Finance data shows the prior-month short interest on 2024-06-28 was 1.35 million shares. There was a decline of -40.15%, which implies that there is a negative sentiment for the stock.

Most Popular