Short Interest in AvePoint, Inc. (NASDAQ:AVPT) Declines By 14.4%

AvePoint, Inc. (NASDAQ:AVPT) was the target of a significant decline in short interest in February. As of February 28th, there was short interest totalling 6,720,000 shares, a decline of 14.4% from the February 13th total of 7,850,000 shares. Based on an average daily trading volume, of 1,480,000 shares, the days-to-cover ratio is presently 4.5 days. Approximately 6.3% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

AVPT has been the subject of several research analyst reports. Citigroup reduced their target price on AvePoint from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. William Blair reiterated an “outperform” rating on shares of AvePoint in a research report on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $15.75.

AvePoint Stock Down 1.4 %

Shares of NASDAQ:AVPT opened at $14.54 on Wednesday. The business has a fifty day moving average of $17.19 and a two-hundred day moving average of $15.47. The stock has a market cap of $2.93 billion, a P/E ratio of -290.74 and a beta of 1.11. AvePoint has a 52-week low of $7.50 and a 52-week high of $19.90.

Institutional Trading of AvePoint

Several large investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC purchased a new position in shares of AvePoint during the 4th quarter worth $25,000. National Bank of Canada FI purchased a new position in shares of AvePoint during the 3rd quarter worth $29,000. Heck Capital Advisors LLC purchased a new position in shares of AvePoint during the 4th quarter worth $29,000. Point72 Hong Kong Ltd purchased a new position in shares of AvePoint during the 4th quarter worth $40,000. Finally, R Squared Ltd acquired a new position in AvePoint during the 4th quarter worth about $45,000. 44.49% of the stock is currently owned by hedge funds and other institutional investors.

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.