Short Interest in AvePoint, Inc. (NASDAQ:AVPT) Expands By 5.7%

AvePoint, Inc. (NASDAQ:AVPT) was the recipient of a significant growth in short interest in April. As of April 15th, there was short interest totalling 6,500,000 shares, a growth of 5.7% from the March 31st total of 6,150,000 shares. Approximately 5.7% of the shares of the stock are sold short. Based on an average daily volume of 834,600 shares, the days-to-cover ratio is currently 7.8 days.

AvePoint Price Performance

NASDAQ:AVPT opened at $7.77 on Wednesday. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of -64.74 and a beta of 0.85. AvePoint has a 1 year low of $4.26 and a 1 year high of $8.61. The business has a 50 day simple moving average of $7.85 and a 200-day simple moving average of $7.92.

AvePoint (NASDAQ:AVPT) last posted its quarterly earnings data on Thursday, February 29th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). The company had revenue of $74.60 million during the quarter, compared to the consensus estimate of $71.57 million. AvePoint had a negative net margin of 7.94% and a negative return on equity of 9.94%. AvePoint’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.07) earnings per share. As a group, analysts expect that AvePoint will post -0.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on AVPT shares. Cantor Fitzgerald raised their price target on AvePoint from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Evercore ISI raised their price target on AvePoint from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Finally, Citigroup raised their price target on AvePoint from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Wednesday, January 10th.

Insider Buying and Selling

In related news, insider Brian Michael Brown sold 20,000 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $8.11, for a total transaction of $162,200.00. Following the completion of the sale, the insider now owns 1,286,088 shares in the company, valued at $10,430,173.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders sold 43,061 shares of company stock worth $342,288. 27.78% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AvePoint

A number of institutional investors and hedge funds have recently modified their holdings of AVPT. Bank of New York Mellon Corp increased its stake in AvePoint by 274.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,835,402 shares of the company’s stock worth $12,334,000 after buying an additional 1,345,267 shares during the period. Mackenzie Financial Corp bought a new stake in shares of AvePoint during the third quarter valued at approximately $108,000. Strs Ohio raised its stake in shares of AvePoint by 51.4% during the third quarter. Strs Ohio now owns 85,100 shares of the company’s stock valued at $571,000 after acquiring an additional 28,900 shares in the last quarter. Arete Wealth Advisors LLC raised its stake in shares of AvePoint by 21.6% during the third quarter. Arete Wealth Advisors LLC now owns 23,900 shares of the company’s stock valued at $161,000 after acquiring an additional 4,250 shares in the last quarter. Finally, Ingalls & Snyder LLC raised its stake in shares of AvePoint by 22.3% during the third quarter. Ingalls & Snyder LLC now owns 176,373 shares of the company’s stock valued at $1,185,000 after acquiring an additional 32,146 shares in the last quarter. 44.49% of the stock is owned by institutional investors.

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.