Aviat Networks, Inc. (NASDAQ:AVNW) Sees Significant Increase in Short Interest

Aviat Networks, Inc. (NASDAQ:AVNW) saw a significant growth in short interest in October. As of October 15th, there was short interest totalling 544,000 shares, a growth of 31.7% from the September 30th total of 413,100 shares. Based on an average daily trading volume, of 135,200 shares, the short-interest ratio is presently 4.0 days.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Rhumbline Advisers lifted its holdings in Aviat Networks by 2.9% in the 2nd quarter. Rhumbline Advisers now owns 18,716 shares of the communications equipment provider’s stock valued at $537,000 after acquiring an additional 523 shares during the last quarter. nVerses Capital LLC bought a new stake in Aviat Networks during the second quarter worth approximately $29,000. Delphi Management Inc. MA grew its position in Aviat Networks by 6.5% in the first quarter. Delphi Management Inc. MA now owns 21,451 shares of the communications equipment provider’s stock worth $822,000 after buying an additional 1,305 shares during the last quarter. Truvestments Capital LLC increased its holdings in shares of 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 buying an additional 2,213 shares in the last quarter. Finally, Tectonic Advisors LLC lifted its position in shares of Aviat Networks by 6.7% during the 1st quarter. Tectonic Advisors LLC now owns 35,368 shares of the communications equipment provider’s stock valued at $1,356,000 after acquiring an additional 2,221 shares during the last quarter. Institutional investors own 78.62% of the company’s stock.

Aviat Networks Price Performance

Aviat Networks stock traded up $0.04 during trading hours on Tuesday, hitting $20.98. 5,605 shares of the company traded hands, compared to its average volume of 108,649. Aviat Networks has a 1-year low of $18.00 and a 1-year high of $38.85. The firm has a market cap of $266.03 million, a P/E ratio of 21.59 and a beta of 1.80. The firm’s 50-day simple moving average is $23.47 and its two-hundred day simple moving average is $27.71. The company has a quick ratio of 1.57, a current ratio of 1.85 and a debt-to-equity ratio of 0.18.

Aviat Networks (NASDAQ:AVNW) last posted its quarterly earnings data on Friday, October 4th. The communications equipment provider reported $0.58 EPS for the quarter. The business had revenue of $116.66 million for the quarter. Aviat Networks had a net margin of 2.89% and a return on equity of 13.47%. As a group, analysts forecast that Aviat Networks will post 2.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. StockNews.com lowered Aviat Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. Lake Street Capital decreased their target price on shares of Aviat Networks from $51.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, October 8th. JMP Securities restated a “market outperform” rating and set a $50.00 price objective on shares of Aviat Networks in a research note on Tuesday, October 8th. Northland Securities reduced their price target on shares of Aviat Networks from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Finally, B. Riley decreased their price objective on shares of Aviat Networks from $55.00 to $42.00 and set a “buy” rating for the company in a report on Friday, September 13th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Aviat Networks has an average rating of “Moderate Buy” and a consensus price target of $43.00.

About Aviat Networks

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.