Short Interest in AvePoint, Inc. (NASDAQ:AVPT) Declines By 14.4%

AvePoint, Inc. (NASDAQ:AVPT) was the recipient of a large decrease in short interest in February. As of February 28th, there was short interest totalling 6,720,000 shares, a decrease of 14.4% from the February 13th total of 7,850,000 shares. Currently, 6.3% of the company’s shares are short sold. Based on an average trading volume of 1,480,000 shares, the short-interest ratio is currently 4.5 days.

Institutional Investors Weigh In On AvePoint

A number of institutional investors have recently added to or reduced their stakes in AVPT. Global Retirement Partners LLC purchased a new stake in shares of AvePoint in the fourth quarter worth about $25,000. Heck Capital Advisors LLC acquired a new stake in AvePoint during the fourth quarter valued at approximately $29,000. Point72 Hong Kong Ltd acquired a new stake in AvePoint during the fourth quarter valued at approximately $40,000. National Bank of Canada FI acquired a new stake in AvePoint during the third quarter valued at approximately $29,000. Finally, R Squared Ltd acquired a new stake in AvePoint during the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 44.49% of the company’s stock.

Wall Street Analysts Forecast Growth

AVPT has been the topic of a number of analyst reports. William Blair reaffirmed an “outperform” rating on shares of AvePoint in a research report on Tuesday, March 4th. Citigroup reduced their price target on AvePoint from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $15.75.

AvePoint Stock Down 1.4 %

NASDAQ AVPT opened at $14.54 on Wednesday. AvePoint has a fifty-two week low of $7.50 and a fifty-two week high of $19.90. The stock has a market cap of $2.93 billion, a price-to-earnings ratio of -290.74 and a beta of 1.11. The business has a fifty day moving average of $17.19 and a 200-day moving average of $15.47.

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.