Aviat Networks, Inc. (NASDAQ:AVNW) Short Interest Update

Aviat Networks, Inc. (NASDAQ:AVNW) saw a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 516,500 shares, an increase of 9.5% from the November 15th total of 471,500 shares. Based on an average daily volume of 225,700 shares, the short-interest ratio is currently 2.3 days.

Insiders Place Their Bets

In other Aviat Networks news, CEO Pete A. Smith purchased 3,000 shares of Aviat Networks stock in a transaction on Friday, November 8th. The shares were purchased at an average cost of $14.13 per share, with a total value of $42,390.00. Following the completion of the transaction, the chief executive officer now directly owns 298,539 shares in the company, valued at approximately $4,218,356.07. This represents a 1.02 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Connaway purchased 3,500 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were acquired at an average cost of $14.13 per share, with a total value of $49,455.00. Following the completion of the transaction, the chief financial officer now owns 57,893 shares in the company, valued at $818,028.09. This trade represents a 6.43 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 7,400 shares of company stock valued at $106,110 over the last quarter. Company insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Aviat Networks

Several institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. lifted its holdings in shares of Aviat Networks by 15.3% in the 3rd quarter. Franklin Resources Inc. now owns 170,652 shares of the communications equipment provider’s stock worth $3,853,000 after purchasing an additional 22,665 shares during the last quarter. Barclays PLC lifted its stake in Aviat Networks by 298.0% in the third quarter. Barclays PLC now owns 15,928 shares of the communications equipment provider’s stock valued at $344,000 after buying an additional 11,926 shares during the last quarter. Hodges Capital Management Inc. boosted its holdings in shares of Aviat Networks by 27.3% during the third quarter. Hodges Capital Management Inc. now owns 465,483 shares of the communications equipment provider’s stock valued at $10,068,000 after acquiring an additional 99,948 shares during the period. Jane Street Group LLC grew its position in shares of Aviat Networks by 59.1% during the third quarter. Jane Street Group LLC now owns 24,737 shares of the communications equipment provider’s stock worth $535,000 after acquiring an additional 9,186 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Aviat Networks by 1.6% in the 3rd quarter. State Street Corp now owns 237,689 shares of the communications equipment provider’s stock worth $5,141,000 after acquiring an additional 3,855 shares during the period. 78.62% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AVNW has been the subject of a number of analyst reports. Lake Street Capital decreased their price objective on shares of Aviat Networks from $45.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. B. Riley decreased their price target on shares of Aviat Networks from $55.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, September 13th. StockNews.com cut shares of Aviat Networks from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Roth Mkm decreased their price objective on shares of Aviat Networks from $43.00 to $39.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, JMP Securities reissued a “market outperform” rating and issued a $50.00 target price on shares of Aviat Networks in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.60.

Aviat Networks Stock Performance

Aviat Networks stock opened at $18.05 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.72 and a quick ratio of 1.40. Aviat Networks has a 12 month low of $12.95 and a 12 month high of $38.85. The company has a fifty day moving average price of $18.37 and a two-hundred day moving average price of $24.05. The company has a market cap of $229.05 million, a PE ratio of -58.45 and a beta of 1.72.

Aviat Networks (NASDAQ:AVNW) last posted its quarterly earnings results on Friday, October 4th. The communications equipment provider reported $0.58 EPS for the quarter. Aviat Networks had a negative net margin of 0.98% and a positive return on equity of 4.94%. The business had revenue of $116.66 million during the quarter. Research analysts expect that Aviat Networks will post 1.13 earnings per share for the current year.

About Aviat Networks

Aviat Networks, Inc provides microwave networking and wireless access networking solutions in North America, Africa, the Middle East, Europe, Latin America, and the Asia Pacific. The company offers outdoor, indoor, and split-mount radios; microwave routers, switches, and trunking; and private LTE, virtual fiber, and element management products; and hosted software products, such as aviat design, frequency assurance software, and health assurance software.