Radware (NASDAQ:RDWR) Hits New 1-Year High – Here’s Why

Shares of Radware Ltd. (NASDAQ:RDWR) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $24.34 and last traded at $24.26, with a volume of 301306 shares traded. The stock had previously closed at $22.06.

Analyst Ratings Changes

Several research analysts have weighed in on the company. StockNews.com upgraded Radware from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 21st. Barclays raised their price target on shares of Radware from $23.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC raised shares of Radware to a “hold” rating in a report on Friday, November 1st.

Radware Stock Performance

The company has a market capitalization of $985.51 million, a price-to-earnings ratio of -391.10 and a beta of 0.97. The firm has a fifty day moving average price of $22.15 and a 200-day moving average price of $20.45.

Institutional Investors Weigh In On Radware

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP increased its position in Radware by 247.3% during the 3rd quarter. GSA Capital Partners LLP now owns 114,762 shares of the information technology services provider’s stock worth $2,557,000 after purchasing an additional 81,718 shares in the last quarter. Tidal Investments LLC bought a new stake in Radware during the 1st quarter worth $494,000. Acadian Asset Management LLC increased its holdings in Radware by 7.1% in the 2nd quarter. Acadian Asset Management LLC now owns 1,732,954 shares of the information technology services provider’s stock worth $31,577,000 after purchasing an additional 115,089 shares in the last quarter. Marshall Wace LLP bought a new position in Radware in the second quarter valued at about $561,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in shares of Radware by 67.1% during the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 97,441 shares of the information technology services provider’s stock worth $1,777,000 after purchasing an additional 39,117 shares during the last quarter. 73.12% of the stock is currently owned by institutional investors.

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.