AvePoint, Inc. (NASDAQ:AVPT) Sees Large Drop in Short Interest

AvePoint, Inc. (NASDAQ:AVPT) was the target of a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 6,720,000 shares, a decrease of 14.4% from the February 13th total of 7,850,000 shares. Based on an average trading volume of 1,480,000 shares, the days-to-cover ratio is currently 4.5 days. Currently, 6.3% of the company’s stock are sold short.

AvePoint Stock Performance

AVPT opened at $15.07 on Friday. AvePoint has a 1-year low of $7.52 and a 1-year high of $19.90. The company has a 50-day moving average of $17.13 and a 200-day moving average of $15.47. The company has a market capitalization of $3.04 billion, a P/E ratio of -301.34 and a beta of 1.11.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in AVPT. Global Retirement Partners LLC acquired a new position in AvePoint in the 4th quarter valued at approximately $25,000. National Bank of Canada FI bought a new stake in AvePoint in the third quarter worth approximately $29,000. Heck Capital Advisors LLC bought a new stake in AvePoint in the fourth quarter worth approximately $29,000. Point72 Hong Kong Ltd bought a new stake in AvePoint in the fourth quarter worth approximately $40,000. Finally, R Squared Ltd bought a new stake in AvePoint in the fourth quarter worth approximately $45,000. Institutional investors and hedge funds own 44.49% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. William Blair reissued an “outperform” rating on shares of AvePoint in a report on Tuesday, March 4th. Citigroup decreased their target price on shares of AvePoint from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $15.75.

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.