Short Interest in AvePoint, Inc. (NASDAQ:AVPT) Increases By 17.6%

AvePoint, Inc. (NASDAQ:AVPT - Get Free Report) was the target of a significant growth in short interest in 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 days-to-cover ratio is currently 5.5 days. Approximately 7.8% of the company's stock are short sold.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Neo Ivy Capital Management purchased a new position in AvePoint during the 4th quarter worth approximately $6,229,000. Ashford Capital Management Inc. raised its holdings in shares of AvePoint by 1.6% during the fourth quarter. Ashford Capital Management Inc. now owns 1,108,720 shares of the company's stock worth $18,305,000 after purchasing an additional 17,490 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in AvePoint by 13.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,084 shares of the company's stock valued at $4,344,000 after purchasing an additional 30,399 shares during the period. Voloridge Investment Management LLC lifted its position in AvePoint by 102.6% during the fourth quarter. Voloridge Investment Management LLC now owns 965,022 shares of the company's stock valued at $15,933,000 after purchasing an additional 488,706 shares during the period. Finally, Woodline Partners LP purchased a new stake in AvePoint in the fourth quarter valued at $350,000. 44.49% of the stock is owned by institutional investors and hedge funds.

AvePoint Trading Down 1.6 %

Shares of NASDAQ AVPT traded down $0.32 during midday trading on Wednesday, reaching $19.29. The company had a trading volume of 1,185,621 shares, compared to its average volume of 1,176,277. AvePoint has a 1 year low of $7.08 and a 1 year high of $19.90. The business's 50-day simple moving average is $17.97 and its 200 day simple moving average is $14.82. The stock has a market cap of $3.60 billion, a P/E ratio of -385.72 and a beta of 1.02.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. The Goldman Sachs Group boosted their price objective 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 increased their price target on AvePoint from $17.00 to $18.00 and gave the company a "neutral" rating in a research note on Friday, January 17th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $15.00.

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.