AvePoint, Inc. (NASDAQ:AVPT) Sees Large Drop in Short Interest

AvePoint, Inc. (NASDAQ:AVPT - Get Free Report) was the recipient of a large decrease in short interest in the month of February. As of February 28th, there was short interest totalling 6,720,000 shares, a decrease of 14.4% from the February 13th total of 7,850,000 shares. Based on an average trading volume of 1,480,000 shares, the short-interest ratio is currently 4.5 days. Currently, 6.3% of the company's stock are sold short.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quantbot Technologies LP increased its holdings in shares of AvePoint by 142.8% in the 3rd quarter. Quantbot Technologies LP now owns 153,747 shares of the company's stock worth $1,810,000 after purchasing an additional 90,413 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of AvePoint by 8.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 70,013 shares of the company's stock worth $824,000 after purchasing an additional 5,352 shares in the last quarter. Walleye Capital LLC bought a new stake in shares of AvePoint in the 3rd quarter worth $2,970,000. Charles Schwab Investment Management Inc. increased its holdings in shares of AvePoint by 7.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 897,584 shares of the company's stock worth $10,565,000 after purchasing an additional 63,323 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of AvePoint by 13.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,536,660 shares of the company's stock worth $18,086,000 after purchasing an additional 184,361 shares in the last quarter. Institutional investors own 44.49% of the company's stock.

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Analyst Ratings Changes

Several brokerages have recently issued reports on AVPT. William Blair reissued an "outperform" rating on shares of AvePoint in a research report on Tuesday, March 4th. Citigroup reduced their price objective on AvePoint from $18.00 to $16.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $15.75.

AvePoint Price Performance

AVPT stock traded down $0.02 on Friday, reaching $15.05. 1,729,547 shares of the company traded hands, compared to its average volume of 1,147,198. AvePoint has a one year low of $7.52 and a one year high of $19.90. The company has a market cap of $3.04 billion, a P/E ratio of -300.94 and a beta of 1.11. The firm has a fifty day simple moving average of $17.10 and a 200-day simple moving average of $15.55.

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.