Aviat Networks (NASDAQ:AVNW) Downgraded by StockNews.com

StockNews.com lowered shares of Aviat Networks (NASDAQ:AVNW) from a strong-buy rating to a hold rating in a research note issued to investors on Thursday morning.

A number of other research analysts have also recently commented on AVNW. B. Riley cut their price target on shares of Aviat Networks from $55.00 to $42.00 and set a buy rating on the stock in a report on Friday, September 13th. Northland Securities reaffirmed an outperform rating and set a $40.00 target price (down from $50.00) on shares of Aviat Networks in a research report on Friday, September 13th. Finally, Lake Street Capital reiterated a buy rating and issued a $51.00 price target on shares of Aviat Networks in a report on Friday, July 5th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $45.75.

Aviat Networks Price Performance

AVNW opened at $22.58 on Thursday. The business has a fifty day moving average of $27.02 and a 200 day moving average of $30.36. The stock has a market cap of $283.72 million, a P/E ratio of 19.98 and a beta of 1.81. The company has a quick ratio of 1.79, a current ratio of 2.12 and a debt-to-equity ratio of 0.18. Aviat Networks has a 52-week low of $18.00 and a 52-week high of $38.85.

Institutional Investors Weigh In On Aviat Networks

Several hedge funds have recently modified their holdings of the business. nVerses Capital LLC purchased a new stake in Aviat Networks during the second quarter worth $29,000. BNP Paribas Financial Markets raised its position in shares of Aviat Networks by 84.8% in the 1st quarter. BNP Paribas Financial Markets now owns 5,475 shares of the communications equipment provider’s stock worth $210,000 after acquiring an additional 2,513 shares in the last quarter. Covestor Ltd boosted its position in Aviat Networks by 309.8% during the first quarter. Covestor Ltd now owns 5,934 shares of the communications equipment provider’s stock valued at $228,000 after purchasing an additional 4,486 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Aviat Networks in the fourth quarter valued at about $400,000. Finally, Truvestments Capital LLC grew its stake in Aviat Networks by 26.2% in the first quarter. Truvestments Capital LLC now owns 10,654 shares of the communications equipment provider’s stock valued at $408,000 after purchasing an additional 2,213 shares during the last quarter. Hedge funds and other 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.