Aviat Networks, Inc. (NASDAQ:AVNW) Short Interest Down 11.6% in July

Aviat Networks, Inc. (NASDAQ:AVNW) was the recipient of a significant drop in short interest in July. As of July 31st, there was short interest totalling 501,800 shares, a drop of 11.6% from the July 15th total of 567,900 shares. Based on an average daily volume of 62,700 shares, the short-interest ratio is currently 8.0 days.

Aviat Networks Price Performance

Shares of NASDAQ:AVNW opened at $27.56 on Monday. The company has a 50 day moving average of $28.68 and a 200 day moving average of $31.82. The stock has a market cap of $346.29 million, a P/E ratio of 24.39 and a beta of 1.80. Aviat Networks has a 12 month low of $25.08 and a 12 month high of $38.85. The company has a current ratio of 2.12, a quick ratio of 1.79 and a debt-to-equity ratio of 0.18.

Analyst Ratings Changes

AVNW has been the subject of several recent research reports. B. Riley reduced their target price on shares of Aviat Networks from $59.00 to $55.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. StockNews.com upgraded shares of Aviat Networks from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. Finally, Lake Street Capital reiterated a “buy” rating and issued a $51.00 target price on shares of Aviat Networks in a research note on Friday, July 5th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $53.75.

Hedge Funds Weigh In On Aviat Networks

Several hedge funds have recently bought and sold shares of AVNW. Rhumbline Advisers grew its stake in Aviat Networks by 2.9% in the 2nd quarter. Rhumbline Advisers now owns 18,716 shares of the communications equipment provider’s stock worth $537,000 after buying an additional 523 shares in the last quarter. Watershed Asset Management L.L.C. grew its stake in Aviat Networks by 9.9% in the 4th quarter. Watershed Asset Management L.L.C. now owns 9,346 shares of the communications equipment provider’s stock worth $305,000 after buying an additional 841 shares in the last quarter. nVerses Capital LLC purchased a new position in Aviat Networks in the 2nd quarter worth approximately $29,000. Delphi Management Inc. MA grew its stake in Aviat Networks by 6.5% in the 1st quarter. Delphi Management Inc. MA now owns 21,451 shares of the communications equipment provider’s stock worth $822,000 after buying an additional 1,305 shares in the last quarter. Finally, Truvestments Capital LLC grew its stake in Aviat Networks by 26.2% in the 1st quarter. Truvestments Capital LLC now owns 10,654 shares of the communications equipment provider’s stock worth $408,000 after buying an additional 2,213 shares in the last quarter. Hedge funds and other institutional investors 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.