Short Interest in Aviat Networks, Inc. (NASDAQ:AVNW) Increases By 31.7%

Aviat Networks, Inc. (NASDAQ:AVNW) was the recipient of a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 544,000 shares, a growth of 31.7% from the September 30th total of 413,100 shares. Based on an average daily volume of 135,200 shares, the days-to-cover ratio is presently 4.0 days.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. JMP Securities reissued a “market outperform” rating and set a $50.00 price target on shares of Aviat Networks in a research report on Tuesday, October 8th. StockNews.com cut Aviat Networks from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. B. Riley reduced their price target on Aviat Networks from $55.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, September 13th. Northland Securities dropped their price objective on shares of Aviat Networks from $40.00 to $35.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 8th. Finally, Lake Street Capital cut their price objective on shares of Aviat Networks from $51.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, October 8th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $43.00.

Aviat Networks Price Performance

AVNW stock traded down $0.25 during trading on Friday, hitting $20.66. The stock had a trading volume of 77,016 shares, compared to its average volume of 175,239. The company’s 50-day moving average price is $23.61 and its two-hundred day moving average price is $27.85. Aviat Networks has a twelve month low of $18.00 and a twelve month high of $38.85. The stock has a market capitalization of $261.97 million, a P/E ratio of 21.30 and a beta of 1.80. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.85 and a quick ratio of 1.57.

Aviat Networks (NASDAQ:AVNW) last issued its quarterly earnings results on Friday, October 4th. The communications equipment provider reported $0.58 EPS for the quarter. Aviat Networks had a return on equity of 13.47% and a net margin of 2.89%. The firm had revenue of $116.66 million during the quarter. As a group, research analysts predict that Aviat Networks will post 2.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Aviat Networks

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Private Advisor Group LLC raised its holdings in shares of Aviat Networks by 45.4% during the 1st quarter. Private Advisor Group LLC now owns 12,832 shares of the communications equipment provider’s stock worth $492,000 after acquiring an additional 4,009 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of Aviat Networks by 84.8% during the 1st quarter. BNP Paribas Financial Markets now owns 5,475 shares of the communications equipment provider’s stock worth $210,000 after buying an additional 2,513 shares during the last quarter. Tectonic Advisors LLC raised its position in shares of Aviat Networks by 6.7% during the 1st quarter. Tectonic Advisors LLC now owns 35,368 shares of the communications equipment provider’s stock valued at $1,356,000 after buying an additional 2,221 shares during the period. Anchor Capital Advisors LLC acquired a new position in Aviat Networks in the first quarter valued at approximately $1,330,000. Finally, Vanguard Group Inc. increased its stake in Aviat Networks by 2.2% during the first quarter. Vanguard Group Inc. now owns 552,071 shares of the communications equipment provider’s stock worth $21,166,000 after acquiring an additional 11,662 shares during the last quarter. Institutional investors and hedge funds own 78.62% of the company’s stock.

Aviat Networks Company Profile

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.