Aviat Networks, Inc. (NASDAQ:AVNW) Short Interest Down 12.0% in October

Aviat Networks, Inc. (NASDAQ:AVNW - Get Free Report) was the recipient of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 478,700 shares, a drop of 12.0% from the October 15th total of 544,000 shares. Based on an average trading volume of 185,800 shares, the short-interest ratio is currently 2.6 days.

Insider Activity

In related news, CEO Pete A. Smith purchased 3,000 shares of the firm's stock in a transaction dated Friday, November 8th. The stock was bought at an average price of $14.13 per share, with a total value of $42,390.00. Following the completion of the purchase, the chief executive officer now owns 298,539 shares in the company, valued at approximately $4,218,356.07. This represents a 1.02 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Michael Connaway acquired 3,500 shares of the business's stock in a transaction that occurred on Friday, November 8th. The stock was bought at an average cost of $14.13 per share, for a total transaction of $49,455.00. Following the completion of the purchase, the chief financial officer now owns 57,893 shares of the company's stock, valued at $818,028.09. This trade represents a 6.43 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 4.10% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. nVerses Capital LLC bought a new position in shares of Aviat Networks in the second quarter valued at approximately $29,000. NBC Securities Inc. bought a new position in Aviat Networks during the 3rd quarter valued at $62,000. BNP Paribas Financial Markets lifted its stake in Aviat Networks by 84.8% during the 1st quarter. BNP Paribas Financial Markets now owns 5,475 shares of the communications equipment provider's stock valued at $210,000 after acquiring an additional 2,513 shares in the last quarter. Covestor Ltd boosted its holdings in Aviat Networks by 309.8% during the 1st quarter. Covestor Ltd now owns 5,934 shares of the communications equipment provider's stock worth $228,000 after acquiring an additional 4,486 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Aviat Networks in the 3rd quarter worth $263,000. Institutional investors and hedge funds own 78.62% of the company's stock.

Aviat Networks Stock Down 0.9 %

Aviat Networks stock traded down $0.12 during midday trading on Friday, reaching $13.79. The stock had a trading volume of 304,596 shares, compared to its average volume of 124,703. The company has a fifty day moving average price of $20.62 and a two-hundred day moving average price of $26.14. Aviat Networks has a 12 month low of $12.95 and a 12 month high of $38.85. The company has a current ratio of 1.72, a quick ratio of 1.40 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $175.00 million, a P/E ratio of -44.48 and a beta of 1.81.

Aviat Networks (NASDAQ:AVNW - Get Free Report) last released its quarterly earnings data on Friday, October 4th. The communications equipment provider reported $0.58 EPS for the quarter. Aviat Networks had a positive return on equity of 4.94% and a negative net margin of 0.98%. The firm had revenue of $116.66 million during the quarter. As a group, equities analysts expect that Aviat Networks will post 0.74 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on AVNW. Northland Securities lowered their target price on shares of Aviat Networks from $40.00 to $35.00 and set an "outperform" rating for the company in a research note on Tuesday, October 8th. JMP Securities reissued a "market outperform" rating and issued a $50.00 price objective on shares of Aviat Networks in a research report on Tuesday, October 8th. Lake Street Capital cut their target price on Aviat Networks from $45.00 to $27.00 and set a "buy" rating on the stock in a research report on Wednesday, November 6th. B. Riley lowered their target price on Aviat Networks from $55.00 to $42.00 and set a "buy" rating for the company in a report on Friday, September 13th. Finally, StockNews.com lowered Aviat Networks from a "hold" rating to a "sell" rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $38.60.

About Aviat Networks

Aviat Networks, Inc provides microwave networking and wireless access networking solutions in North America, Africa, the Middle East, Europe, Latin America, and the Asia Pacific. The company offers outdoor, indoor, and split-mount radios; microwave routers, switches, and trunking; and private LTE, virtual fiber, and element management products; and hosted software products, such as aviat design, frequency assurance software, and health assurance software.