AvePoint, Inc. (NASDAQ:AVPT) Sees Significant Increase in Short Interest

AvePoint, Inc. (NASDAQ:AVPT) saw a large increase in short interest in May. As of May 31st, there was short interest totalling 6,800,000 shares, an increase of 5.9% from the May 15th total of 6,420,000 shares. Based on an average daily trading volume, of 886,600 shares, the short-interest ratio is presently 7.7 days. Approximately 7.0% of the shares of the stock are short sold.

AvePoint Stock Up 6.4 %

Shares of AvePoint stock opened at $9.62 on Tuesday. The business has a 50 day moving average of $8.53 and a 200 day moving average of $8.17. AvePoint has a 52 week low of $5.46 and a 52 week high of $9.68. The company has a market cap of $1.78 billion, a PE ratio of -120.25 and a beta of 0.87.

AvePoint (NASDAQ:AVPT) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.04. AvePoint had a negative net margin of 4.91% and a negative return on equity of 6.56%. The business had revenue of $74.53 million during the quarter, compared to analyst estimates of $72.33 million. During the same period in the prior year, the business earned ($0.05) EPS. The company’s revenue for the quarter was up 25.1% on a year-over-year basis. On average, research analysts anticipate that AvePoint will post -0.05 earnings per share for the current year.

Insider Activity at AvePoint

In other AvePoint news, CFO James Caci sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $9.04, for a total value of $361,600.00. Following the completion of the sale, the chief financial officer now owns 665,097 shares of the company’s stock, valued at $6,012,476.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO James Caci sold 40,000 shares of AvePoint stock in a transaction on Monday, May 20th. The shares were sold at an average price of $9.04, for a total value of $361,600.00. Following the transaction, the chief financial officer now owns 665,097 shares in the company, valued at approximately $6,012,476.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Brian Michael Brown sold 20,000 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $9.05, for a total transaction of $181,000.00. Following the completion of the sale, the insider now directly owns 1,323,930 shares of the company’s stock, valued at $11,981,566.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 83,061 shares of company stock valued at $724,288. Corporate insiders own 27.78% of the company’s stock.

Institutional Trading of AvePoint

Large investors have recently bought and sold shares of the company. Harvest Fund Management Co. Ltd purchased a new position in shares of AvePoint in the 4th quarter valued at approximately $47,000. Aigen Investment Management LP purchased a new position in AvePoint during the third quarter valued at $68,000. SG Americas Securities LLC purchased a new position in AvePoint during the fourth quarter valued at $95,000. Bayesian Capital Management LP bought a new stake in shares of AvePoint during the 1st quarter valued at $130,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of AvePoint in the 4th quarter worth about $148,000. 44.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on AVPT shares. Cantor Fitzgerald lifted their price target on AvePoint from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. Evercore ISI upped their price target on shares of AvePoint from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Finally, Northland Securities raised their price target on shares of AvePoint from $12.00 to $18.00 and gave the stock an “outperform” rating in a report on Monday.

About AvePoint

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.