Short Interest in AvePoint, Inc. (NASDAQ:AVPT) Decreases By 21.2%

AvePoint, Inc. (NASDAQ:AVPT) saw a large decline in short interest during the month of January. As of January 15th, there was short interest totalling 6,180,000 shares, a decline of 21.2% from the December 31st total of 7,840,000 shares. Based on an average trading volume of 1,170,000 shares, the short-interest ratio is currently 5.3 days. Approximately 6.2% of the company’s shares are sold short.

AvePoint Stock Performance

Shares of AVPT stock traded up $0.28 during trading hours on Thursday, hitting $18.72. 1,666,202 shares of the company were exchanged, compared to its average volume of 1,099,011. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of -374.33 and a beta of 1.01. AvePoint has a one year low of $7.08 and a one year high of $19.16. The business’s 50-day simple moving average is $17.68 and its two-hundred day simple moving average is $13.91.

Analysts Set New Price Targets

AVPT has been the topic of several research reports. The Goldman Sachs Group raised their price objective on AvePoint from $7.50 to $15.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Citigroup boosted their price target on AvePoint from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $15.00.

Insider Buying and Selling at AvePoint

In related news, CFO James Caci sold 20,215 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $17.12, for a total value of $346,080.80. Following the transaction, the chief financial officer now directly owns 591,890 shares of the company’s stock, valued at approximately $10,133,156.80. This trade represents a 3.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Zhijian Lu sold 10,000 shares of AvePoint stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $15.77, for a total value of $157,700.00. Following the completion of the transaction, the insider now directly owns 18,310,673 shares in the company, valued at $288,759,313.21. This represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 50,215 shares of company stock worth $831,581. Insiders own 27.78% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. National Bank of Canada FI bought a new position in AvePoint during the third quarter worth $29,000. Heck Capital Advisors LLC acquired a new stake in shares of AvePoint during the fourth quarter worth $29,000. R Squared Ltd acquired a new position in shares of AvePoint in the 4th quarter valued at about $45,000. Pacer Advisors Inc. grew its position in shares of AvePoint by 29.7% during the 4th quarter. Pacer Advisors Inc. now owns 4,409 shares of the company’s stock valued at $73,000 after buying an additional 1,010 shares during the last quarter. Finally, Algert Global LLC acquired a new stake in AvePoint during the second quarter worth about $116,000. Institutional investors and hedge funds own 44.49% of the company’s stock.

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.