Radware Ltd. (NASDAQ:RDWR) Short Interest Up 34.7% in March

Radware Ltd. (NASDAQ:RDWR) was the recipient of a large increase in short interest in March. As of March 31st, there was short interest totalling 567,000 shares, an increase of 34.7% from the March 15th total of 420,900 shares. Currently, 1.8% of the company’s stock are short sold. Based on an average daily volume of 134,100 shares, the days-to-cover ratio is presently 4.2 days.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RDWR. Legal & General Group Plc grew its position in Radware by 14.8% in the 4th quarter. Legal & General Group Plc now owns 2,235,702 shares of the information technology services provider’s stock worth $50,370,000 after purchasing an additional 287,913 shares during the period. Cooper Creek Partners Management LLC grew its holdings in shares of Radware by 264.3% in the fourth quarter. Cooper Creek Partners Management LLC now owns 956,764 shares of the information technology services provider’s stock worth $21,556,000 after acquiring an additional 694,112 shares during the period. First Trust Advisors LP increased its position in Radware by 2.4% during the fourth quarter. First Trust Advisors LP now owns 882,255 shares of the information technology services provider’s stock valued at $19,877,000 after acquiring an additional 20,658 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Radware by 23.8% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 727,705 shares of the information technology services provider’s stock valued at $16,395,000 after acquiring an additional 140,135 shares during the period. Finally, Millennium Management LLC boosted its position in Radware by 14.0% in the fourth quarter. Millennium Management LLC now owns 613,795 shares of the information technology services provider’s stock worth $13,829,000 after purchasing an additional 75,474 shares during the last quarter. 73.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on RDWR shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Radware in a research report on Friday, February 14th. Jefferies Financial Group reduced their price target on Radware from $26.00 to $24.00 and set a “hold” rating for the company in a report on Monday, March 31st.

Radware Stock Up 1.0 %

Shares of NASDAQ RDWR opened at $21.28 on Friday. The firm has a market cap of $893.65 million, a P/E ratio of 152.01 and a beta of 0.98. Radware has a twelve month low of $16.25 and a twelve month high of $25.00. The company has a 50 day moving average of $21.95 and a 200 day moving average of $22.42.

Radware (NASDAQ:RDWR) last announced its quarterly earnings results on Wednesday, February 12th. The information technology services provider reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.12). Radware had a net margin of 2.20% and a return on equity of 3.81%. As a group, equities analysts expect that Radware will post 0.28 earnings per share for the current fiscal year.

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.