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

AvePoint, Inc. (NASDAQ:AVPT) was the recipient of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 7,840,000 shares, a growth of 12.5% from the November 30th total of 6,970,000 shares. Based on an average daily trading volume, of 1,070,000 shares, the days-to-cover ratio is presently 7.3 days. Approximately 7.8% of the company’s shares are sold short.

Insider Activity at AvePoint

In related news, major shareholder Zhijian Lu sold 10,000 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $12.24, for a total value of $122,400.00. Following the transaction, the insider now owns 18,350,673 shares of the company’s stock, valued at $224,612,237.52. This represents a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO James Caci sold 20,215 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 591,890 shares of the company’s stock, valued at $10,133,156.80. This trade represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,215 shares of company stock worth $1,321,081. 27.78% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AvePoint

Several hedge funds have recently made changes to their positions in AVPT. National Bank of Canada FI purchased a new stake in AvePoint during the 3rd quarter valued at approximately $29,000. Canada Pension Plan Investment Board purchased a new position in AvePoint during the 2nd quarter worth $83,000. Algert Global LLC acquired a new stake in shares of AvePoint in the 2nd quarter worth $116,000. Balboa Wealth Partners acquired a new position in shares of AvePoint during the third quarter worth about $125,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in AvePoint during the third quarter worth about $171,000. Institutional investors and hedge funds own 44.49% of the company’s stock.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group increased their target price on shares of AvePoint from $7.50 to $15.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $13.20.

AvePoint Trading Down 0.2 %

Shares of AvePoint stock traded down $0.03 during trading on Tuesday, reaching $16.45. The company’s stock had a trading volume of 783,916 shares, compared to its average volume of 1,048,010. The firm has a market cap of $3.07 billion, a PE ratio of -328.93 and a beta of 1.00. The company has a 50-day moving average price of $16.20 and a two-hundred day moving average price of $12.84. AvePoint has a fifty-two week low of $7.08 and a fifty-two week high of $19.16.

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.