American Virtual Cloud Technologies, Inc. (NASDAQ:AVCT) Sees Large Decrease in Short Interest

American Virtual Cloud Technologies, Inc. (NASDAQ:AVCTGet Rating) saw a significant drop in short interest in the month of December. As of December 30th, there was short interest totalling 2,070,000 shares, a drop of 10.4% from the December 15th total of 2,310,000 shares. Based on an average daily volume of 3,610,000 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Virtu Financial LLC bought a new position in American Virtual Cloud Technologies in the first quarter valued at approximately $36,000. IFP Advisors Inc bought a new position in American Virtual Cloud Technologies in the third quarter valued at approximately $60,000. XTX Topco Ltd increased its stake in American Virtual Cloud Technologies by 628.9% in the first quarter. XTX Topco Ltd now owns 113,717 shares of the company’s stock valued at $106,000 after acquiring an additional 98,116 shares during the last quarter. State Street Corp bought a new position in American Virtual Cloud Technologies in the first quarter valued at approximately $152,000. Finally, BlackRock Inc. increased its stake in American Virtual Cloud Technologies by 104.1% in the third quarter. BlackRock Inc. now owns 1,405,496 shares of the company’s stock valued at $283,000 after acquiring an additional 716,785 shares during the last quarter. 8.10% of the stock is owned by institutional investors.

American Virtual Cloud Technologies Stock Down 11.0 %

Shares of AVCT opened at $0.60 on Tuesday. American Virtual Cloud Technologies has a 12 month low of $0.55 and a 12 month high of $21.45. The firm’s 50 day moving average is $1.01 and its 200-day moving average is $2.19.

American Virtual Cloud Technologies (NASDAQ:AVCTGet Rating) last announced its earnings results on Monday, November 14th. The company reported ($2.27) EPS for the quarter. American Virtual Cloud Technologies had a negative return on equity of 8,361.74% and a negative net margin of 583.38%. The business had revenue of $4.74 million for the quarter.

About American Virtual Cloud Technologies

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American Virtual Cloud Technologies, Inc engages in the provision of technological solutions. Its products include network communications, data storage, desktops and servers. It operates through the Computex and Kandy segments. The Computex segment provides technology solutions through its extensive hardware, software, and value-added service offerings.

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