Avianca Holdings SA (NYSE:AVH) Sees Significant Growth in Short Interest

Avianca Holdings SA (NYSE:AVH) was the recipient of a large increase in short interest in the month of March. As of March 13th, there was short interest totalling 267,900 shares, an increase of 133.2% from the February 27th total of 114,900 shares. Based on an average trading volume of 188,400 shares, the days-to-cover ratio is currently 1.4 days. Approximately 0.6% of the shares of the company are sold short.

Several research firms have weighed in on AVH. Deutsche Bank cut shares of Avianca from a “buy” rating to a “hold” rating and lowered their price target for the company from $7.00 to $2.00 in a report on Monday, March 16th. Zacks Investment Research cut shares of Avianca from a “buy” rating to a “hold” rating in a report on Monday, March 16th. Finally, JPMorgan Chase & Co. cut shares of Avianca from a “neutral” rating to an “underweight” rating in a report on Monday, March 16th.

Several institutional investors and hedge funds have recently made changes to their positions in the company. ING Groep NV increased its holdings in shares of Avianca by 32.0% during the fourth quarter. ING Groep NV now owns 330,000 shares of the transportation company’s stock worth $1,472,000 after purchasing an additional 80,000 shares during the period. Evolution Wealth Advisors LLC increased its holdings in shares of Avianca by 12,021.7% during the fourth quarter. Evolution Wealth Advisors LLC now owns 303,042 shares of the transportation company’s stock worth $1,352,000 after purchasing an additional 300,542 shares during the period. Finally, Oxford Asset Management LLP bought a new position in shares of Avianca during the fourth quarter worth approximately $86,000. 3.89% of the stock is currently owned by institutional investors.

Shares of AVH traded up $0.03 during mid-day trading on Thursday, hitting $1.03. 2,028,107 shares of the company’s stock were exchanged, compared to its average volume of 316,010. Avianca has a 52 week low of $0.62 and a 52 week high of $5.02. The stock’s 50-day simple moving average is $3.37 and its 200-day simple moving average is $3.95. The firm has a market cap of $85.08 million, a price-to-earnings ratio of -0.14 and a beta of 1.27.

Avianca Company Profile

Avianca Holdings SA, through its subsidiaries, provides passenger and cargo air transportation services in North America, Central America, the Caribbean, Colombia, Europe, South America, and internationally. It also offers aircraft maintenance, crew training, and other airport services to other carriers, as well as travel and cargo related services to its customers.

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