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

AvePoint, Inc. (NASDAQ:AVPT) saw a large decrease in short interest during the month of September. As of September 15th, there was short interest totalling 4,690,000 shares, a decrease of 34.2% from the August 31st total of 7,130,000 shares. Based on an average daily trading volume, of 1,220,000 shares, the short-interest ratio is presently 3.8 days. Currently, 4.7% of the company’s stock are sold short.

AvePoint Stock Performance

Shares of NASDAQ AVPT traded down $0.08 during midday trading on Friday, hitting $11.71. 503,029 shares of the company’s stock traded hands, compared to its average volume of 1,024,171. The firm has a fifty day moving average of $11.12 and a 200 day moving average of $9.62. AvePoint has a 1 year low of $6.45 and a 1 year high of $12.09. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of -146.38 and a beta of 0.89.

AvePoint (NASDAQ:AVPT) last announced its earnings results on Thursday, August 8th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.09). The business had revenue of $77.96 million for the quarter, compared to analysts’ expectations of $75.17 million. AvePoint had a negative net margin of 4.77% and a negative return on equity of 6.66%. The firm’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.07) earnings per share. On average, equities analysts anticipate that AvePoint will post -0.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on AVPT shares. Northland Securities raised their price target on shares of AvePoint from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Cantor Fitzgerald raised their target price on shares of AvePoint from $11.00 to $13.00 and gave the stock an “overweight” rating in a report on Friday, August 9th.

Insider Buying and Selling

In related news, major shareholder Zhijian Lu sold 10,000 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $10.77, for a total value of $107,700.00. Following the transaction, the insider now owns 18,460,673 shares in the company, valued at approximately $198,821,448.21. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, major shareholder Zhijian Lu sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $10.77, for a total value of $107,700.00. Following the completion of the transaction, the insider now directly owns 18,460,673 shares in the company, valued at approximately $198,821,448.21. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Brian Michael Brown sold 20,000 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $10.78, for a total value of $215,600.00. Following the sale, the insider now owns 1,277,373 shares in the company, valued at $13,770,080.94. The disclosure for this sale can be found here. Insiders have sold 150,000 shares of company stock worth $1,658,000 in the last 90 days. Insiders own 27.78% of the company’s stock.

Hedge Funds Weigh In On AvePoint

Institutional investors and hedge funds have recently bought and sold shares of the stock. Canada Pension Plan Investment Board bought a new position in shares of AvePoint in the second quarter worth about $83,000. Algert Global LLC purchased a new position in AvePoint during the second quarter valued at approximately $116,000. Bayesian Capital Management LP bought a new position in shares of AvePoint in the first quarter worth approximately $130,000. nVerses Capital LLC purchased a new stake in shares of AvePoint in the second quarter worth $173,000. Finally, SG Americas Securities LLC raised its position in shares of AvePoint by 44.2% during the 1st quarter. SG Americas Securities LLC now owns 16,727 shares of the company’s stock valued at $132,000 after purchasing an additional 5,125 shares during the period. 44.49% of the stock is currently owned by hedge funds and other institutional investors.

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.