AvePoint, Inc. (NASDAQ:AVPT) Short Interest Up 16.0% in August

AvePoint, Inc. (NASDAQ:AVPT) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 5,450,000 shares, a growth of 16.0% from the August 15th total of 4,700,000 shares. Approximately 4.7% of the company’s stock are sold short. Based on an average daily trading volume, of 908,900 shares, the short-interest ratio is presently 6.0 days.

AvePoint Price Performance

AvePoint stock traded up $0.10 during mid-day trading on Monday, hitting $6.83. 156,262 shares of the company’s stock traded hands, compared to its average volume of 647,408. AvePoint has a fifty-two week low of $3.40 and a fifty-two week high of $7.13. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of -29.57 and a beta of 0.89. The firm has a 50 day simple moving average of $6.29 and a two-hundred day simple moving average of $5.50.

AvePoint (NASDAQ:AVPT) last released its quarterly earnings results on Wednesday, August 9th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.08). AvePoint had a negative net margin of 16.71% and a negative return on equity of 18.50%. The company had revenue of $64.90 million during the quarter, compared to the consensus estimate of $61.78 million. During the same period in the prior year, the company earned ($0.05) earnings per share. The firm’s revenue was up 16.5% compared to the same quarter last year. On average, research analysts anticipate that AvePoint will post -0.18 earnings per share for the current fiscal year.

Insider Buying and Selling at AvePoint

In other news, major shareholder Sixth Street Partners Manageme sold 16,666,600 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $6.00, for a total value of $99,999,600.00. Following the completion of the transaction, the insider now owns 1,885,806 shares in the company, valued at approximately $11,314,836. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 25.72% of the company’s stock.

Hedge Funds Weigh In On AvePoint

A number of hedge funds have recently added to or reduced their stakes in AVPT. Credit Suisse AG increased its position in shares of AvePoint by 4.1% in the second quarter. Credit Suisse AG now owns 62,474 shares of the company’s stock worth $270,000 after purchasing an additional 2,470 shares during the period. Legal & General Group Plc lifted its stake in shares of AvePoint by 6.3% in the 4th quarter. Legal & General Group Plc now owns 42,901 shares of the company’s stock valued at $176,000 after acquiring an additional 2,538 shares during the last quarter. PFS Investments Inc. boosted its holdings in shares of AvePoint by 23.7% during the 4th quarter. PFS Investments Inc. now owns 14,305 shares of the company’s stock valued at $59,000 after acquiring an additional 2,745 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in AvePoint by 14.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 22,865 shares of the company’s stock worth $94,000 after acquiring an additional 2,901 shares during the last quarter. Finally, Ameritas Investment Partners Inc. increased its holdings in AvePoint by 31.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 12,666 shares of the company’s stock worth $73,000 after purchasing an additional 3,006 shares in the last quarter. Institutional investors own 42.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AVPT. TheStreet upgraded shares of AvePoint from a “d+” rating to a “c-” rating in a report on Wednesday, May 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 target price on shares of AvePoint in a report on Monday. Finally, Citigroup lifted their price target on AvePoint from $5.80 to $7.00 and gave the stock a “neutral” rating in a report on Tuesday, August 29th.

AvePoint Company Profile

AvePoint, Inc provides cloud-native software platform solutions. It also offers software-as-a-service solutions and productivity applications. The company offers modularity and cloud services architecture to address management of data to organizations that leverage third-party cloud vendors, including Microsoft, Salesforce, Google, AWS, Box, DropBox, and others.