Short Interest in Aviat Networks, Inc. (NASDAQ:AVNW) Decreases By 12.0%

Aviat Networks, Inc. (NASDAQ:AVNW) was the target 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.

Aviat Networks Price Performance

Shares of NASDAQ AVNW traded down $0.12 during midday trading on Friday, hitting $13.79. 304,596 shares of the company traded hands, compared to its average volume of 288,777. Aviat Networks has a 12-month low of $12.95 and a 12-month high of $38.85. The stock has a 50-day moving average price of $20.62 and a 200 day moving average price of $26.14. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.72 and a quick ratio of 1.40.

Aviat Networks (NASDAQ:AVNW) last posted its earnings results on Friday, October 4th. The communications equipment provider reported $0.58 earnings per share for the quarter. The firm had revenue of $116.66 million for the quarter. Aviat Networks had a positive return on equity of 4.94% and a negative net margin of 0.98%. On average, equities research analysts forecast that Aviat Networks will post 1.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on AVNW shares. Roth Mkm dropped their price objective on Aviat Networks from $43.00 to $39.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Northland Securities decreased their price objective on shares of Aviat Networks from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. B. Riley dropped their target price on shares of Aviat Networks from $55.00 to $42.00 and set a “buy” rating for the company in a report on Friday, September 13th. StockNews.com downgraded Aviat Networks from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Finally, Lake Street Capital dropped their price objective on Aviat Networks from $45.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Aviat Networks currently has an average rating of “Moderate Buy” and an average price target of $38.60.

Insider Buying and Selling at Aviat Networks

In other Aviat Networks news, CEO Pete A. Smith purchased 3,000 shares of the business’s stock in a transaction on Friday, November 8th. The stock was acquired at an average cost of $14.13 per share, for a total transaction of $42,390.00. Following the completion of the transaction, the chief executive officer now directly owns 298,539 shares in the company, valued at approximately $4,218,356.07. This represents a 1.02 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Michael Connaway acquired 3,500 shares of Aviat Networks stock in a transaction dated Friday, November 8th. The shares were 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 directly owns 57,893 shares of the company’s stock, valued at approximately $818,028.09. The trade was a 6.43 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Aviat Networks

A number of institutional investors have recently added to or reduced their stakes in AVNW. Assenagon Asset Management S.A. purchased a new stake in shares of Aviat Networks in the 3rd quarter worth about $589,000. Select Equity Group L.P. grew its holdings in Aviat Networks by 8.7% in the second quarter. Select Equity Group L.P. now owns 380,184 shares of the communications equipment provider’s stock worth $10,907,000 after purchasing an additional 30,582 shares during the period. Vanguard Group Inc. grew its holdings in Aviat Networks by 2.2% in the first quarter. Vanguard Group Inc. now owns 552,071 shares of the communications equipment provider’s stock worth $21,166,000 after purchasing an additional 11,662 shares during the period. Hodges Capital Management Inc. increased its stake in shares of Aviat Networks by 80.8% during the second quarter. Hodges Capital Management Inc. now owns 365,535 shares of the communications equipment provider’s stock valued at $10,487,000 after purchasing an additional 163,365 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Aviat Networks by 84.8% during the first quarter. BNP Paribas Financial Markets now owns 5,475 shares of the communications equipment provider’s stock valued at $210,000 after purchasing an additional 2,513 shares during the last quarter. Institutional investors own 78.62% of the company’s stock.

Aviat Networks Company Profile

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.