Traders Buy Large Volume of Call Options on American Virtual Cloud Technologies (NASDAQ:AVCT)

American Virtual Cloud Technologies, Inc. (NASDAQ:AVCTGet Rating) was the target of some unusual options trading activity on Monday. Stock investors acquired 6,386 call options on the company. This represents an increase of 247% compared to the average volume of 1,841 call options.

American Virtual Cloud Technologies Price Performance

Shares of American Virtual Cloud Technologies stock opened at $0.24 on Tuesday. The company’s 50-day moving average price is $0.21 and its two-hundred day moving average price is $0.46. American Virtual Cloud Technologies has a 52 week low of $0.13 and a 52 week high of $3.25. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.01.

Hedge Funds Weigh In On American Virtual Cloud Technologies

A number of institutional investors have recently bought and sold shares of the stock. Cresset Asset Management LLC grew its stake in shares of American Virtual Cloud Technologies by 14.3% in the 1st quarter. Cresset Asset Management LLC now owns 2,001,054 shares of the company’s stock valued at $1,871,000 after buying an additional 250,000 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of American Virtual Cloud Technologies by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 1,560,299 shares of the company’s stock valued at $1,459,000 after buying an additional 90,732 shares in the last quarter. BlackRock Inc. lifted its holdings in American Virtual Cloud Technologies by 48.1% in the 1st quarter. BlackRock Inc. now owns 779,266 shares of the company’s stock worth $729,000 after purchasing an additional 253,192 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in American Virtual Cloud Technologies by 34.5% in the 1st quarter. Bank of New York Mellon Corp now owns 321,656 shares of the company’s stock worth $301,000 after purchasing an additional 82,584 shares during the last quarter. Finally, State Street Corp acquired a new stake in American Virtual Cloud Technologies in the 1st quarter worth approximately $152,000.

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.

Further Reading

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