American Virtual Cloud Technologies, Inc. (NASDAQ:AVCT – Get Rating) was the recipient of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 2,310,000 shares, a growth of 27.6% from the November 30th total of 1,810,000 shares. Based on an average daily trading volume, of 4,920,000 shares, the days-to-cover ratio is currently 0.5 days.

Hedge Funds Weigh In On American Virtual Cloud Technologies

Hedge funds have recently added to or reduced their stakes in the stock. IFP Advisors Inc acquired a new stake in shares of American Virtual Cloud Technologies during the third quarter worth about $60,000. Virtu Financial LLC acquired a new stake in shares of American Virtual Cloud Technologies during the first quarter worth about $36,000. XTX Topco Ltd raised its position in shares of American Virtual Cloud Technologies by 628.9% during the first quarter. XTX Topco Ltd now owns 113,717 shares of the company's stock worth $106,000 after purchasing an additional 98,116 shares during the period. State Street Corp acquired a new stake in shares of American Virtual Cloud Technologies during the first quarter worth about $152,000. Finally, Bank of New York Mellon Corp raised its position in shares of American Virtual Cloud Technologies by 34.5% during the first quarter. Bank of New York Mellon Corp now owns 321,656 shares of the company's stock worth $301,000 after purchasing an additional 82,584 shares during the period. Institutional investors and hedge funds own 8.10% of the company's stock.

American Virtual Cloud Technologies Trading Up 9.5 %

NASDAQ:AVCT traded up $0.10 during mid-day trading on Monday, hitting $1.15. The company had a trading volume of 16,939 shares, compared to its average volume of 2,255,287. American Virtual Cloud Technologies has a fifty-two week low of $0.78 and a fifty-two week high of $42.75. The business's fifty day moving average is $1.05 and its two-hundred day moving average is $2.52.

American Virtual Cloud Technologies Company Profile

American Virtual Cloud Technologies, Inc, a pure-play cloud communications and collaboration company, provides cloud-based enterprise services worldwide. The company's Kandy cloud communications platform is a cloud-based, real-time communications platform, which offers proprietary unified communications as a service, communications platform as a service, contact center as a service, Microsoft Teams Direct Routing as a Service, and SIP Trunking as a Service capabilities.

Recommended Stories

• Get a free copy of the StockNews.com research report on American Virtual Cloud Technologies (AVCT)
• MarketBeat: Week in Review 12/26 – 12/30
• The Dogs Of Tech: It's Time For A Bite Of These Stocks
• Does This Acquisition Make Microsoft a Bear Market Buy?
• Is Kintara Therapeutics A Hidden Gem?
• Should You Warm up to Generac Stock for the Winter?

Receive News & Ratings for American Virtual Cloud Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Virtual Cloud Technologies and related companies with MarketBeat.com's FREE daily email newsletter.