Aviat Networks, Inc. (NASDAQ:AVNW – Get Rating) was the recipient of a large decrease in short interest in the month of November. As of November 30th, there was short interest totalling 291,600 shares, a decrease of 10.9% from the November 15th total of 327,400 shares. Based on an average trading volume of 65,900 shares, the days-to-cover ratio is presently 4.4 days. Approximately 2.7% of the shares of the stock are sold short.
Institutional Investors Weigh In On Aviat Networks
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Royce & Associates LP increased its stake in shares of Aviat Networks by 3.5% in the second quarter. Royce & Associates LP now owns 636,087 shares of the communications equipment provider's stock valued at $15,928,000 after buying an additional 21,760 shares during the period. BlackRock Inc. increased its stake in shares of Aviat Networks by 5.7% in the first quarter. BlackRock Inc. now owns 525,162 shares of the communications equipment provider's stock valued at $16,159,000 after buying an additional 28,213 shares during the period. AIGH Capital Management LLC increased its stake in shares of Aviat Networks by 6.9% in the first quarter. AIGH Capital Management LLC now owns 407,918 shares of the communications equipment provider's stock valued at $12,551,000 after buying an additional 26,300 shares during the period. Renaissance Technologies LLC increased its stake in shares of Aviat Networks by 5.7% in the second quarter. Renaissance Technologies LLC now owns 396,370 shares of the communications equipment provider's stock valued at $9,925,000 after buying an additional 21,500 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Aviat Networks by 0.4% in the third quarter. Dimensional Fund Advisors LP now owns 364,511 shares of the communications equipment provider's stock valued at $9,980,000 after buying an additional 1,382 shares during the period. Institutional investors and hedge funds own 63.72% of the company's stock.
Get Aviat Networks alerts:Aviat Networks Trading Down 0.4 %
Aviat Networks stock opened at $30.92 on Monday. The company has a market capitalization of $350.01 million, a PE ratio of 27.12 and a beta of 1.72. Aviat Networks has a 12 month low of $23.88 and a 12 month high of $35.18. The stock has a 50-day moving average price of $30.49 and a two-hundred day moving average price of $29.60.
Aviat Networks (NASDAQ:AVNW – Get Rating) last posted its earnings results on Wednesday, November 2nd. The communications equipment provider reported $0.59 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.07). The firm had revenue of $81.25 million during the quarter, compared to the consensus estimate of $81.30 million. Aviat Networks had a net margin of 4.41% and a return on equity of 15.07%. As a group, analysts predict that Aviat Networks will post 2.91 earnings per share for the current fiscal year.Wall Street Analyst Weigh In
Several analysts recently weighed in on AVNW shares. StockNews.com downgraded Aviat Networks from a "strong-buy" rating to a "buy" rating in a research report on Friday, November 11th. JMP Securities started coverage on Aviat Networks in a research report on Thursday, September 1st. They set an "outperform" rating and a $50.00 price objective for the company. Litchfield Hills Research restated a "buy" rating on shares of Aviat Networks in a research report on Wednesday, August 31st. Finally, B. Riley upped their price objective on Aviat Networks from $56.00 to $57.00 in a research report on Thursday, November 3rd. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $57.33.
About Aviat Networks
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Aviat Networks, Inc provides microwave 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 and switches; microwave trunking; element management products; and software products, such as aviat design, frequency assurance software, and health assurance software.
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