AvePoint, Inc. (NASDAQ:AVPT) Short Interest Down 34.2% in September

AvePoint, Inc. (NASDAQ:AVPT) was the recipient of a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 4,690,000 shares, a drop of 34.2% from the August 31st total of 7,130,000 shares. Approximately 4.7% of the shares of the stock are sold short. Based on an average daily volume of 1,220,000 shares, the short-interest ratio is presently 3.8 days.

AvePoint Price Performance

NASDAQ:AVPT opened at $11.77 on Thursday. The firm has a market cap of $2.18 billion, a PE ratio of -147.13 and a beta of 0.89. The firm has a 50 day simple moving average of $11.07 and a 200-day simple moving average of $9.58. AvePoint has a 1-year low of $6.41 and a 1-year high of $12.09.

AvePoint (NASDAQ:AVPT) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.09). AvePoint had a negative return on equity of 6.66% and a negative net margin of 4.77%. The business had revenue of $77.96 million for the quarter, compared to analysts’ expectations of $75.17 million. During the same period in the prior year, the company earned ($0.07) EPS. The company’s revenue for the quarter was up 20.2% compared to the same quarter last year. As a group, sell-side analysts expect that AvePoint will post -0.07 earnings per share for the current fiscal year.

Insider Activity at AvePoint

In other AvePoint news, major shareholder Zhijian Lu sold 10,000 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $10.77, for a total value of $107,700.00. Following the completion of the transaction, the insider now directly owns 18,460,673 shares of the company’s stock, valued at $198,821,448.21. The sale was disclosed in a filing with the SEC, which is available at this link. In other AvePoint news, major shareholder Zhijian Lu sold 10,000 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $10.77, for a total value of $107,700.00. Following the sale, the insider now owns 18,460,673 shares of the company’s stock, valued at $198,821,448.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian Michael Brown sold 20,000 shares of AvePoint stock in a transaction on Monday, July 1st. The stock was sold at an average price of $10.37, for a total value of $207,400.00. Following the transaction, the insider now directly owns 1,297,373 shares of the company’s stock, valued at approximately $13,453,758.01. The disclosure for this sale can be found here. Insiders sold 150,000 shares of company stock worth $1,658,000 over the last 90 days. Company insiders own 27.78% of the company’s stock.

Institutional Trading of AvePoint

A number of hedge funds have recently added to or reduced their stakes in the business. Driehaus Capital Management LLC purchased a new position in shares of AvePoint during the 2nd quarter worth about $17,305,000. Vanguard Group Inc. raised its stake in AvePoint by 3.7% during the first quarter. Vanguard Group Inc. now owns 15,050,278 shares of the company’s stock worth $119,198,000 after purchasing an additional 532,371 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in shares of AvePoint by 2,948.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 550,350 shares of the company’s stock valued at $5,735,000 after purchasing an additional 532,294 shares during the last quarter. Squarepoint Ops LLC grew its stake in shares of AvePoint by 198.2% during the 2nd quarter. Squarepoint Ops LLC now owns 519,642 shares of the company’s stock valued at $5,415,000 after buying an additional 345,370 shares during the period. Finally, Marshall Wace LLP acquired a new stake in shares of AvePoint during the 2nd quarter worth $2,881,000. 44.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Northland Securities increased their price target on shares of AvePoint from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Cantor Fitzgerald raised their price target on AvePoint from $11.00 to $13.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th.

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.