Radware Ltd. (NASDAQ:RDWR) Short Interest Down 21.3% in May

Radware Ltd. (NASDAQ:RDWR - Get Free Report) was the target of a large drop in short interest in the month of May. As of May 15th, there was short interest totalling 456,600 shares, a drop of 21.3% from the April 30th total of 580,400 shares. Based on an average daily trading volume, of 161,100 shares, the days-to-cover ratio is presently 2.8 days. Currently, 1.4% of the company's stock are short sold.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc increased its position in Radware by 14.8% during the fourth quarter. Legal & General Group Plc now owns 2,235,702 shares of the information technology services provider's stock worth $50,370,000 after buying an additional 287,913 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Radware by 8.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,718,260 shares of the information technology services provider's stock worth $37,154,000 after buying an additional 130,699 shares during the period. Cooper Creek Partners Management LLC increased its position in Radware by 264.3% during 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 buying 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 worth $19,877,000 after buying an additional 20,658 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Radware by 9.0% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 793,184 shares of the information technology services provider's stock worth $17,149,000 after buying an additional 65,479 shares during the period. Institutional investors and hedge funds own 73.12% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on RDWR shares. Needham & Company LLC reissued a "hold" rating on shares of Radware in a research report on Friday, February 14th. Jefferies Financial Group cut their target price on Radware from $26.00 to $24.00 and set a "hold" rating on the stock in a research report on Monday, March 31st.

Radware Price Performance

Shares of NASDAQ RDWR traded up $0.16 during midday trading on Thursday, hitting $24.08. 76,686 shares of the company's stock were exchanged, compared to its average volume of 226,240. Radware has a twelve month low of $17.01 and a twelve month high of $25.00. The company has a market cap of $1.03 billion, a PE ratio of 172.01 and a beta of 0.95. The firm's fifty day simple moving average is $22.36 and its 200-day simple moving average is $22.56.

Radware (NASDAQ:RDWR - Get Free Report) last issued its earnings results on Wednesday, May 7th. The information technology services provider reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.04. The business had revenue of $72.08 million for the quarter, compared to analyst estimates of $70.56 million. Radware had a return on equity of 3.81% and a net margin of 2.20%. The business's quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the company earned $0.16 EPS. Equities analysts anticipate that Radware will post 0.28 EPS 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.