AvePoint, Inc. (NASDAQ:AVPT) Sees Significant Growth in Short Interest

AvePoint, Inc. (NASDAQ:AVPT) saw a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 7,670,000 shares, a growth of 17.6% from the January 15th total of 6,520,000 shares. Based on an average daily volume of 1,390,000 shares, the short-interest ratio is currently 5.5 days. Approximately 7.8% of the company’s stock are short sold.

Insider Activity

In other news, major shareholder Zhijian Lu sold 10,000 shares of AvePoint stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $17.12, for a total transaction of $171,200.00. Following the sale, the insider now owns 18,270,673 shares in the company, valued at $312,793,921.76. This trade represents a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO James Caci sold 20,215 shares of AvePoint stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $17.12, for a total transaction of $346,080.80. Following the sale, the chief financial officer now owns 591,890 shares in the company, valued at $10,133,156.80. This represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. Insiders own 27.78% of the company’s stock.

Hedge Funds Weigh In On AvePoint

Hedge funds have recently added to or reduced their stakes in the business. Global Retirement Partners LLC acquired a new position in AvePoint in the fourth quarter worth $25,000. National Bank of Canada FI acquired a new position in AvePoint in the third quarter worth $29,000. Heck Capital Advisors LLC acquired a new position in AvePoint in the fourth quarter worth $29,000. R Squared Ltd acquired a new position in AvePoint in the fourth quarter worth $45,000. Finally, Principal Securities Inc. boosted its holdings in AvePoint by 12,961.9% in the fourth quarter. Principal Securities Inc. now owns 2,743 shares of the company’s stock worth $45,000 after purchasing an additional 2,722 shares during the period. Institutional investors and hedge funds own 44.49% of the company’s stock.

AvePoint Price Performance

AvePoint stock opened at $19.44 on Monday. The company has a market cap of $3.63 billion, a PE ratio of -388.72 and a beta of 1.02. The company has a fifty day moving average price of $17.92 and a two-hundred day moving average price of $14.66. AvePoint has a 12 month low of $7.08 and a 12 month high of $19.90.

Analyst Ratings Changes

A number of brokerages recently issued reports on AVPT. The Goldman Sachs Group lifted their price target on shares of AvePoint from $7.50 to $15.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Citigroup lifted their price target on shares of AvePoint from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, AvePoint currently has an average rating of “Moderate Buy” and an average price target of $15.00.

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.