AvePoint (NASDAQ:AVPT) Shares Gap Down - Here's Why

AvePoint, Inc. (NASDAQ:AVPT - Get Free Report)'s stock price gapped down before the market opened on Friday . The stock had previously closed at $17.08, but opened at $13.92. AvePoint shares last traded at $13.90, with a volume of 682,377 shares.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group boosted their price objective on shares of AvePoint from $7.50 to $15.00 and gave the company a "neutral" rating in a report on Tuesday, November 12th. William Blair restated an "outperform" rating on shares of AvePoint in a report on Tuesday. Finally, Citigroup boosted their price objective on shares of AvePoint from $17.00 to $18.00 and gave the company a "neutral" rating in a report on Friday, January 17th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, AvePoint currently has an average rating of "Moderate Buy" and an average price target of $16.25.

AvePoint Price Performance

The stock's 50-day moving average price is $17.69 and its 200 day moving average price is $15.24. The firm has a market cap of $2.77 billion, a P/E ratio of -296.74 and a beta of 1.02.

Institutional Trading of AvePoint

A number of institutional investors have recently made changes to their positions in AVPT. Global Retirement Partners LLC bought a new stake in shares of AvePoint in the fourth quarter worth $25,000. National Bank of Canada FI bought a new stake in shares of AvePoint in the third quarter worth $29,000. Heck Capital Advisors LLC bought a new stake in AvePoint during the fourth quarter worth $29,000. Point72 Hong Kong Ltd bought a new stake in AvePoint during the fourth quarter worth $40,000. Finally, R Squared Ltd bought a new stake in AvePoint during the fourth quarter worth $45,000. Institutional investors own 44.49% of the company's stock.

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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.