AvePoint, Inc. (NASDAQ:AVPT) Short Interest Update

AvePoint, Inc. (NASDAQ:AVPT) saw a large drop in short interest in March. As of March 31st, there was short interest totalling 6,150,000 shares, a drop of 5.7% from the March 15th total of 6,520,000 shares. Approximately 5.4% of the shares of the stock are short sold. Based on an average trading volume of 886,300 shares, the days-to-cover ratio is currently 6.9 days.

Wall Street Analyst Weigh In

AVPT has been the topic of several recent research reports. Citigroup raised their price objective on AvePoint from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Wednesday, January 10th. Cantor Fitzgerald lifted their target price on AvePoint from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Finally, Evercore ISI lifted their target price on AvePoint from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Friday, March 1st.

Insider Activity at AvePoint

In related news, insider Brian Michael Brown sold 20,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $8.11, for a total transaction of $162,200.00. Following the sale, the insider now owns 1,286,088 shares of the company’s stock, valued at approximately $10,430,173.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 43,061 shares of company stock valued at $342,288 in the last 90 days. 27.78% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in AVPT. Harvest Fund Management Co. Ltd bought a new stake in AvePoint in the 4th quarter valued at about $47,000. Quantbot Technologies LP increased its position in AvePoint by 136.8% in the 1st quarter. Quantbot Technologies LP now owns 6,867 shares of the company’s stock valued at $36,000 after buying an additional 3,967 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in AvePoint in the 4th quarter valued at about $59,000. Tower Research Capital LLC TRC increased its position in AvePoint by 148.0% in the 1st quarter. Tower Research Capital LLC TRC now owns 8,937 shares of the company’s stock valued at $37,000 after buying an additional 5,334 shares in the last quarter. Finally, Royal Bank of Canada increased its position in AvePoint by 97,940.0% in the 1st quarter. Royal Bank of Canada now owns 9,804 shares of the company’s stock valued at $52,000 after buying an additional 9,794 shares in the last quarter. 44.49% of the stock is owned by institutional investors.

AvePoint Trading Up 0.5 %

Shares of AVPT opened at $7.76 on Wednesday. The company has a market capitalization of $1.43 billion, a PE ratio of -64.66 and a beta of 0.85. AvePoint has a 12 month low of $4.01 and a 12 month high of $8.61. The stock’s 50-day moving average price is $7.87 and its two-hundred day moving average price is $7.86.

AvePoint (NASDAQ:AVPT) last posted its quarterly earnings data on Thursday, February 29th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). AvePoint had a negative return on equity of 9.94% and a negative net margin of 7.94%. The business had revenue of $74.60 million during the quarter, compared to the consensus estimate of $71.57 million. During the same period last year, the business posted ($0.07) earnings per share. The business’s revenue was up 17.3% on a year-over-year basis. Equities research analysts predict that AvePoint will post -0.15 EPS for the current fiscal year.

AvePoint Company Profile

AvePoint, Inc provides cloud-native data management software platform in North America, Europe, Middle East, Africa, and Asia Pacific. It also offers software-as-a-service solutions and productivity applications. The company offers modularity and cloud services architecture to address critical challenges and the management of data to organizations that leverage third-party cloud vendors, including Microsoft, Salesforce, Google, AWS, Box, DropBox, and others; license and support; and maintenance services.