AvePoint, Inc. (NASDAQ:AVPT) Sees Large Growth in Short Interest

AvePoint, Inc. (NASDAQ:AVPT) saw a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 6,500,000 shares, a growth of 5.7% from the March 31st total of 6,150,000 shares. Based on an average trading volume of 834,600 shares, the days-to-cover ratio is presently 7.8 days. Currently, 5.7% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AVPT shares. Cantor Fitzgerald raised their target price on AvePoint from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. Citigroup raised their target price on AvePoint from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 10th. Finally, Evercore ISI raised their target price on AvePoint from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st.

AvePoint Stock Performance

Shares of AvePoint stock opened at $7.85 on Thursday. AvePoint has a 52 week low of $4.28 and a 52 week high of $8.61. The stock has a 50 day moving average price of $7.85 and a two-hundred day moving average price of $7.92. The stock has a market capitalization of $1.44 billion, a PE ratio of -65.42 and a beta of 0.85.

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

Insider Transactions at AvePoint

In other news, insider Brian Michael Brown sold 20,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $8.11, for a total transaction of $162,200.00. Following the completion of the transaction, the insider now directly owns 1,286,088 shares in the company, valued at $10,430,173.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 27.78% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AvePoint

A number of hedge funds have recently added to or reduced their stakes in the company. Strs Ohio grew its stake in AvePoint by 3.9% in the fourth quarter. Strs Ohio now owns 88,400 shares of the company’s stock valued at $725,000 after acquiring an additional 3,300 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of AvePoint by 16.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,782 shares of the company’s stock valued at $236,000 after purchasing an additional 4,005 shares in the last quarter. Arete Wealth Advisors LLC lifted its holdings in shares of AvePoint by 21.6% in the third quarter. Arete Wealth Advisors LLC now owns 23,900 shares of the company’s stock valued at $161,000 after purchasing an additional 4,250 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of AvePoint by 16.1% in the fourth quarter. Arizona State Retirement System now owns 31,097 shares of the company’s stock valued at $255,000 after purchasing an additional 4,303 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of AvePoint in the fourth quarter valued at approximately $47,000. Institutional investors and hedge funds own 44.49% of the company’s stock.

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.