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

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

Insider Buying and Selling

In related news, CFO James Caci sold 20,215 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $17.12, for a total value of $346,080.80. Following the completion of the sale, the chief financial officer now directly owns 591,890 shares of the company’s stock, valued at $10,133,156.80. This represents a 3.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Zhijian Lu sold 10,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $17.12, for a total transaction of $171,200.00. Following the transaction, the insider now directly owns 18,270,673 shares in the company, valued at $312,793,921.76. The trade was a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 90,215 shares of company stock worth $1,321,081 over the last 90 days. 27.78% of the stock is owned by insiders.

Institutional Investors Weigh In On AvePoint

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC boosted its holdings in shares of AvePoint by 33.7% during the second quarter. Millennium Management LLC now owns 641,862 shares of the company’s stock worth $6,688,000 after purchasing an additional 161,759 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of AvePoint in the 3rd quarter valued at $1,404,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of AvePoint in the 2nd quarter worth $548,000. Quantbot Technologies LP grew its position in AvePoint by 142.8% during the third quarter. Quantbot Technologies LP now owns 153,747 shares of the company’s stock valued at $1,810,000 after acquiring an additional 90,413 shares during the period. Finally, Lisanti Capital Growth LLC purchased a new position in AvePoint in the third quarter valued at approximately $1,424,000. Hedge funds and other institutional investors own 44.49% of the company’s stock.

AvePoint Stock Performance

NASDAQ AVPT traded up $0.02 during trading hours on Tuesday, reaching $16.50. The company’s stock had a trading volume of 602,044 shares, compared to its average volume of 1,047,273. The company’s 50-day moving average is $16.20 and its two-hundred day moving average is $12.84. AvePoint has a fifty-two week low of $7.08 and a fifty-two week high of $19.16. The stock has a market cap of $3.08 billion, a PE ratio of -329.93 and a beta of 1.00.

Wall Street Analysts Forecast Growth

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

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.