AvePoint, Inc. (NASDAQ:AVPT – Get Rating) was the target of a large growth in short interest during the month of December. As of December 30th, there was short interest totalling 5,360,000 shares, a growth of 6.6% from the December 15th total of 5,030,000 shares. Currently, 5.1% of the shares of the company are sold short. Based on an average daily trading volume, of 613,100 shares, the short-interest ratio is currently 8.7 days.
Analysts Set New Price Targets
A number of analysts have recently commented on the company. Citigroup upped their target price on AvePoint from $4.50 to $5.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 15th. Evercore ISI dropped their price objective on shares of AvePoint to $5.00 in a research note on Wednesday, November 16th.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of the stock. Thompson Siegel & Walmsley LLC purchased a new stake in AvePoint during the 3rd quarter worth approximately $245,000. Bank of New York Mellon Corp increased its position in shares of AvePoint by 12.0% during the third quarter. Bank of New York Mellon Corp now owns 402,668 shares of the company’s stock worth $1,615,000 after purchasing an additional 43,105 shares in the last quarter. EVR Research LP increased its position in shares of AvePoint by 16.6% during the third quarter. EVR Research LP now owns 4,163,000 shares of the company’s stock worth $16,694,000 after purchasing an additional 592,000 shares in the last quarter. State Street Corp raised its stake in AvePoint by 8.6% in the 3rd quarter. State Street Corp now owns 2,327,535 shares of the company’s stock valued at $9,333,000 after purchasing an additional 184,152 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in AvePoint by 3.8% in the 3rd quarter. Vanguard Group Inc. now owns 11,944,553 shares of the company’s stock valued at $47,899,000 after purchasing an additional 438,951 shares in the last quarter. Institutional investors and hedge funds own 41.35% of the company’s stock.
AvePoint Stock Down 0.7 %
AvePoint (NASDAQ:AVPT – Get Rating) last issued its quarterly earnings results on Thursday, November 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $62.74 million for the quarter, compared to the consensus estimate of $62.67 million. AvePoint had a negative return on equity of 16.67% and a negative net margin of 16.61%. On average, analysts anticipate that AvePoint will post -0.19 earnings per share for the current fiscal year.
AvePoint, Inc provides Microsoft 365 data management solutions worldwide. It offers SaaS platform cloud-hosted collaboration systems by providing suite of software products. The company focuses on data protection, governance, compliance management extensions for Microsoft 365, Dynamics 365, Salesforce, and Google Workspace.
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