Wall Street Zen Upgrades Aviat Networks (NASDAQ:AVNW) to “Buy”

Aviat Networks (NASDAQ:AVNW) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Aviat Networks Trading Down 6.5%

Aviat Networks stock opened at $23.91 on Friday. Aviat Networks has a 52 week low of $12.95 and a 52 week high of $26.83. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.29 and a current ratio of 1.64. The firm has a market capitalization of $304.37 million, a PE ratio of 298.91 and a beta of 1.59. The business’s 50-day simple moving average is $22.79 and its 200-day simple moving average is $21.09.

Insider Buying and Selling

In other Aviat Networks news, SVP Gary Croke sold 6,742 shares of Aviat Networks stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $22.41, for a total transaction of $151,088.22. Following the sale, the senior vice president directly owned 45,159 shares of the company’s stock, valued at approximately $1,012,013.19. The trade was a 12.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Erin Boase sold 5,634 shares of Aviat Networks stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $25.00, for a total value of $140,850.00. Following the sale, the vice president directly owned 22,290 shares in the company, valued at $557,250. The trade was a 20.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,343 shares of company stock worth $406,913 over the last ninety days. Company insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Aviat Networks

A number of institutional investors have recently added to or reduced their stakes in the stock. Boothbay Fund Management LLC boosted its holdings in Aviat Networks by 29.4% during the second quarter. Boothbay Fund Management LLC now owns 52,341 shares of the communications equipment provider’s stock valued at $1,259,000 after purchasing an additional 11,880 shares in the last quarter. PDT Partners LLC acquired a new stake in Aviat Networks during the second quarter valued at approximately $233,000. Raymond James Financial Inc. acquired a new position in shares of Aviat Networks in the 2nd quarter worth approximately $28,000. First Wilshire Securities Management Inc. boosted its holdings in shares of Aviat Networks by 22.2% in the 2nd quarter. First Wilshire Securities Management Inc. now owns 531,398 shares of the communications equipment provider’s stock worth $12,780,000 after acquiring an additional 96,367 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Aviat Networks by 3.9% in the 2nd quarter. First Trust Advisors LP now owns 36,875 shares of the communications equipment provider’s stock worth $887,000 after acquiring an additional 1,392 shares in the last quarter. 78.62% of the stock is owned by institutional investors and hedge funds.

Aviat Networks Company Profile

Aviat Networks, Inc provides microwave networking and wireless access networking solutions in North America, Africa, the Middle East, Europe, Latin America, and the Asia Pacific. The company offers outdoor, indoor, and split-mount radios; microwave routers, switches, and trunking; and private LTE, virtual fiber, and element management products; and hosted software products, such as aviat design, frequency assurance software, and health assurance software.