AvePoint (NASDAQ:AVPT) Sets New 52-Week High at $6.20

AvePoint, Inc. (NASDAQ:AVPT – Get Rating)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $6.20 and last traded at $6.12, with a volume of 85741 shares trading hands. The stock had previously closed at $6.09.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Cantor Fitzgerald raised their price objective on AvePoint from $7.00 to $8.00 in a research note on Thursday, May 11th. The Goldman Sachs Group assumed coverage on AvePoint in a research note on Tuesday, February 14th. They set a “neutral” rating and a $5.50 price objective on the stock.

AvePoint Stock Up 0.2 %

The stock’s fifty day moving average price is $4.46 and its two-hundred day moving average price is $4.54. The company has a market capitalization of $1.17 billion, a PE ratio of -29.05 and a beta of 1.00.

AvePoint (NASDAQ:AVPT – Get Rating) last posted its earnings results on Thursday, March 9th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). The firm had revenue of $63.61 million for the quarter, compared to analysts’ expectations of $63.99 million. AvePoint had a negative return on equity of 16.91% and a negative net margin of 16.21%. On average, equities research analysts forecast that AvePoint, Inc. will post -0.15 EPS for the current year.

Institutional Trading of AvePoint

Institutional investors have recently modified their holdings of the company. Quantbot Technologies LP boosted its holdings in shares of AvePoint by 136.8% during the first quarter. Quantbot Technologies LP now owns 6,867 shares of the company’s stock worth $36,000 after purchasing an additional 3,967 shares during the period. Tower Research Capital LLC TRC lifted its holdings in AvePoint by 148.0% in the first quarter. Tower Research Capital LLC TRC now owns 8,937 shares of the company’s stock worth $37,000 after buying an additional 5,334 shares during the period. Royal Bank of Canada lifted its holdings in AvePoint by 97,940.0% in the first quarter. Royal Bank of Canada now owns 9,804 shares of the company’s stock worth $52,000 after buying an additional 9,794 shares during the period. Schonfeld Strategic Advisors LLC purchased a new stake in AvePoint in the first quarter worth about $48,000. Finally, Verition Fund Management LLC purchased a new stake in AvePoint in the second quarter worth about $52,000. 41.35% of the stock is currently owned by hedge funds and other institutional investors.

AvePoint Company Profile

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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.