American Virtual Cloud Technologies, Inc. (NASDAQ:AVCT) Director Purchases $100,000.00 in Stock

American Virtual Cloud Technologies, Inc. (NASDAQ:AVCTGet Rating) Director Lawrence E. Jr. Mock purchased 250,000 shares of the company’s stock in a transaction that occurred on Friday, May 20th. The shares were purchased at an average price of $0.40 per share, for a total transaction of $100,000.00. Following the completion of the transaction, the director now directly owns 21,423,995 shares of the company’s stock, valued at $8,569,598. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Shares of NASDAQ AVCT traded down $0.03 during mid-day trading on Tuesday, hitting $0.36. 1,073,220 shares of the stock traded hands, compared to its average volume of 4,385,461. The company has a current ratio of 1.65, a quick ratio of 0.90 and a debt-to-equity ratio of 0.01. The stock has a fifty day moving average price of $0.73 and a 200-day moving average price of $1.22. American Virtual Cloud Technologies, Inc. has a 52 week low of $0.34 and a 52 week high of $7.39.

A number of institutional investors have recently added to or reduced their stakes in AVCT. BlackRock Inc. boosted its holdings in American Virtual Cloud Technologies by 2,496.5% in the fourth quarter. BlackRock Inc. now owns 526,074 shares of the company’s stock worth $1,279,000 after acquiring an additional 505,813 shares in the last quarter. Verition Fund Management LLC bought a new stake in American Virtual Cloud Technologies in the third quarter worth $1,278,000. Geode Capital Management LLC boosted its holdings in American Virtual Cloud Technologies by 1,159.6% in the fourth quarter. Geode Capital Management LLC now owns 432,339 shares of the company’s stock worth $1,050,000 after acquiring an additional 398,016 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in American Virtual Cloud Technologies in the fourth quarter worth $722,000. Finally, Cresset Asset Management LLC boosted its holdings in American Virtual Cloud Technologies by 14.3% in the first quarter. Cresset Asset Management LLC now owns 2,001,054 shares of the company’s stock worth $1,871,000 after acquiring an additional 250,000 shares in the last quarter. 12.20% of the stock is currently owned by institutional investors and hedge funds.

American Virtual Cloud Technologies Company Profile (Get Rating)

American Virtual Cloud Technologies, Inc, a pure-play cloud communications and collaboration company, provides cloud-based enterprise services worldwide. The company's Kandy cloud communications platform is a cloud-based, real-time communications platform, which offers proprietary unified communications as a service, communications platform as a service, contact center as a service, Microsoft Teams Direct Routing as a Service, and SIP Trunking as a Service capabilities.

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