AvePoint, Inc. (NASDAQ:AVPT) Sees Significant Increase in Short Interest

AvePoint, Inc. (NASDAQ:AVPTGet Rating) was the target of a significant increase in short interest in the month of December. As of December 30th, there was short interest totalling 5,360,000 shares, an increase of 6.6% from the December 15th total of 5,030,000 shares. Approximately 5.1% of the company’s shares are short sold. Based on an average trading volume of 613,100 shares, the days-to-cover ratio is currently 8.7 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in shares of AvePoint during the second quarter valued at approximately $47,000. Thompson Siegel & Walmsley LLC bought a new position in shares of AvePoint in the 3rd quarter worth $245,000. Ingalls & Snyder LLC lifted its stake in shares of AvePoint by 2.4% during the 3rd quarter. Ingalls & Snyder LLC now owns 153,347 shares of the company’s stock worth $615,000 after purchasing an additional 3,650 shares during the last quarter. B. Riley Asset Management LLC bought a new stake in AvePoint during the second quarter valued at about $2,127,000. Finally, Virtu Financial LLC grew its stake in AvePoint by 20.5% in the second quarter. Virtu Financial LLC now owns 24,104 shares of the company’s stock valued at $105,000 after purchasing an additional 4,097 shares during the last quarter. 41.35% of the stock is currently owned by institutional investors.

AvePoint Price Performance

Shares of AVPT stock opened at $4.39 on Wednesday. The company has a market capitalization of $802.54 million, a P/E ratio of -23.11 and a beta of 1.06. The company’s 50-day simple moving average is $4.47 and its two-hundred day simple moving average is $4.47. AvePoint has a one year low of $3.40 and a one year high of $6.43.

AvePoint (NASDAQ:AVPTGet Rating) last announced its quarterly earnings data on Thursday, November 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. The company had revenue of $62.74 million for the quarter, compared to analysts’ expectations of $62.67 million. AvePoint had a negative return on equity of 16.67% and a negative net margin of 16.61%. On average, research analysts expect that AvePoint will post -0.19 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on AVPT. Citigroup lifted their price target on shares of AvePoint from $4.50 to $5.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 15th. Evercore ISI cut their price objective on AvePoint to $5.00 in a research report on Wednesday, November 16th.

AvePoint Company Profile

(Get Rating)

AvePoint, Inc provides Microsoft 365 data management solutions worldwide. It offers SaaS platform cloud-hosted collaboration systems by providing suite of software products. The company focuses on data protection, governance, compliance management extensions for Microsoft 365, Dynamics 365, Salesforce, and Google Workspace.

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