AvePoint, Inc. (NASDAQ:AVPT) Short Interest Update

AvePoint, Inc. (NASDAQ:AVPT) saw 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. Currently, 6.3% of the shares of the stock are sold short. Based on an average daily volume of 1,480,000 shares, the days-to-cover ratio is currently 4.5 days.

Analyst Ratings Changes

AVPT has been the topic of a number of recent analyst reports. William Blair reissued an “outperform” rating on shares of AvePoint in a research note on Tuesday, March 4th. Citigroup reduced their price objective on AvePoint from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, AvePoint has an average rating of “Moderate Buy” and a consensus price target of $15.75.

Hedge Funds Weigh In On AvePoint

Several hedge funds have recently added to or reduced their stakes in AVPT. Wellington Management Group LLP acquired a new position in AvePoint in the third quarter valued at about $48,226,000. Arrowstreet Capital Limited Partnership lifted its stake in AvePoint by 566.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,678,403 shares of the company’s stock valued at $44,220,000 after buying an additional 2,276,258 shares during the period. Parsifal Capital Management LP acquired a new position in AvePoint in the fourth quarter valued at about $36,419,000. Raymond James Financial Inc. bought a new stake in shares of AvePoint in the fourth quarter worth about $18,067,000. Finally, Gotham Asset Management LLC increased its holdings in shares of AvePoint by 4,694.5% in the fourth quarter. Gotham Asset Management LLC now owns 840,963 shares of the company’s stock worth $13,884,000 after acquiring an additional 823,423 shares in the last quarter. Institutional investors and hedge funds own 44.49% of the company’s stock.

AvePoint Trading Up 3.9 %

NASDAQ:AVPT opened at $15.11 on Thursday. AvePoint has a 1-year low of $7.52 and a 1-year high of $19.90. The business’s 50-day moving average price is $17.16 and its two-hundred day moving average price is $15.47. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of -302.14 and a beta of 1.11.

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.