AvePoint, Inc. (NASDAQ:AVPT) Sees Large Decline in Short Interest

AvePoint, Inc. (NASDAQ:AVPT) saw a significant decline in short interest in March. As of March 31st, there was short interest totalling 6,150,000 shares, a decline of 5.7% from the March 15th total of 6,520,000 shares. Currently, 5.4% of the company’s stock are sold short. Based on an average daily volume of 886,300 shares, the days-to-cover ratio is currently 6.9 days.

Insider Activity at AvePoint

In other AvePoint news, insider Brian Michael Brown sold 20,000 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $8.11, for a total value of $162,200.00. Following the sale, the insider now directly owns 1,286,088 shares of the company’s stock, valued at $10,430,173.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 43,061 shares of company stock worth $342,288 over the last ninety days. 27.78% of the stock is owned by corporate insiders.

Institutional Trading of AvePoint

Several hedge funds have recently bought and sold shares of the stock. Quadrature Capital Ltd bought a new stake in AvePoint during the fourth quarter valued at about $148,000. Vanguard Group Inc. grew its holdings in AvePoint by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 14,517,907 shares of the company’s stock valued at $119,192,000 after purchasing an additional 89,564 shares during the period. Virtu Financial LLC bought a new position in shares of AvePoint in the fourth quarter worth about $84,000. Price T Rowe Associates Inc. MD boosted its stake in shares of AvePoint by 7.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,148 shares of the company’s stock worth $305,000 after acquiring an additional 2,728 shares during the period. Finally, Barclays PLC boosted its stake in shares of AvePoint by 413.8% in the fourth quarter. Barclays PLC now owns 226,038 shares of the company’s stock worth $1,856,000 after acquiring an additional 182,047 shares during the period. Institutional investors own 44.49% of the company’s stock.

AvePoint Stock Performance

AvePoint stock opened at $7.73 on Thursday. The stock has a fifty day moving average of $7.87 and a 200 day moving average of $7.86. AvePoint has a one year low of $4.01 and a one year high of $8.61. The stock has a market cap of $1.42 billion, a PE ratio of -64.42 and a beta of 0.85.

AvePoint (NASDAQ:AVPT) last released its quarterly earnings results on Thursday, February 29th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). AvePoint had a negative net margin of 7.94% and a negative return on equity of 9.94%. The company had revenue of $74.60 million for the quarter, compared to the consensus estimate of $71.57 million. During the same period in the prior year, the firm posted ($0.07) EPS. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. As a group, sell-side analysts predict that AvePoint will post -0.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AVPT has been the subject of several recent analyst reports. Cantor Fitzgerald boosted their price target on AvePoint from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. Evercore ISI upped their price objective on AvePoint from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Finally, Citigroup upped their price objective on AvePoint from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Wednesday, January 10th.

About AvePoint

AvePoint, Inc provides cloud-native data management software platform in North America, Europe, Middle East, Africa, and Asia Pacific. It also offers software-as-a-service solutions and productivity applications. The company offers modularity and cloud services architecture to address critical challenges and the management of data to organizations that leverage third-party cloud vendors, including Microsoft, Salesforce, Google, AWS, Box, DropBox, and others; license and support; and maintenance services.