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

AvePoint, Inc. (NASDAQ:AVPT) saw a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 6,050,000 shares, a growth of 25.8% from the October 31st total of 4,810,000 shares. Based on an average trading volume of 1,060,000 shares, the short-interest ratio is presently 5.7 days. Approximately 6.0% of the shares of the stock are sold short.

Insider Activity

In other news, major shareholder Zhijian Lu sold 10,000 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $11.73, for a total value of $117,300.00. Following the completion of the sale, the insider now owns 18,410,673 shares in the company, valued at $215,957,194.29. This represents a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO James Caci sold 20,215 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $17.12, for a total value of $346,080.80. Following the completion of the sale, the chief financial officer now owns 591,890 shares of the company’s stock, valued at $10,133,156.80. The trade was a 3.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 130,215 shares of company stock worth $1,795,881. Insiders own 27.78% of the company’s stock.

Hedge Funds Weigh In On AvePoint

A number of hedge funds have recently modified their holdings of the stock. National Bank of Canada FI acquired a new position in AvePoint during the third quarter worth $29,000. Canada Pension Plan Investment Board acquired a new position in AvePoint during the second quarter worth $83,000. Balboa Wealth Partners acquired a new position in AvePoint during the third quarter worth $125,000. Algert Global LLC acquired a new position in AvePoint during the second quarter worth $116,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of AvePoint in the third quarter valued at about $171,000. 44.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AVPT shares. Cantor Fitzgerald increased their target price on AvePoint from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Northland Securities increased their target price on AvePoint from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Finally, The Goldman Sachs Group upped their price target on shares of AvePoint from $7.50 to $15.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, AvePoint presently has an average rating of “Moderate Buy” and an average price target of $13.20.

AvePoint Stock Performance

Shares of NASDAQ AVPT traded down $0.17 during mid-day trading on Friday, reaching $17.65. The company had a trading volume of 666,970 shares, compared to its average volume of 1,016,724. AvePoint has a twelve month low of $7.08 and a twelve month high of $18.75. The stock has a market capitalization of $3.30 billion, a PE ratio of -352.93 and a beta of 0.88. The stock’s 50 day moving average is $13.64 and its 200-day moving average is $11.48.

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.