Aviat Networks, Inc. (NASDAQ:AVNW) Short Interest Update

Aviat Networks, Inc. (NASDAQ:AVNW) saw a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 516,500 shares, a growth of 9.5% from the November 15th total of 471,500 shares. Based on an average trading volume of 225,700 shares, the days-to-cover ratio is currently 2.3 days.

Insider Buying and Selling at Aviat Networks

In related news, CFO Michael Connaway acquired 3,500 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was bought at an average price of $14.13 per share, for a total transaction of $49,455.00. Following the transaction, the chief financial officer now owns 57,893 shares of the company’s stock, valued at approximately $818,028.09. The trade was a 6.43 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Pete A. Smith acquired 3,000 shares of Aviat Networks stock in a transaction dated Friday, November 8th. The shares were bought at an average cost of $14.13 per share, with a total value of $42,390.00. Following the completion of the purchase, the chief executive officer now owns 298,539 shares in the company, valued at approximately $4,218,356.07. This represents a 1.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders acquired 7,400 shares of company stock valued at $106,110. 4.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Aviat Networks

Several institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. increased its holdings in Aviat Networks by 15.3% in the third quarter. Franklin Resources Inc. now owns 170,652 shares of the communications equipment provider’s stock worth $3,853,000 after buying an additional 22,665 shares during the last quarter. Barclays PLC grew its position in Aviat Networks by 298.0% in the third quarter. Barclays PLC now owns 15,928 shares of the communications equipment provider’s stock worth $344,000 after acquiring an additional 11,926 shares in the last quarter. Hodges Capital Management Inc. increased its stake in shares of Aviat Networks by 27.3% during the 3rd quarter. Hodges Capital Management Inc. now owns 465,483 shares of the communications equipment provider’s stock worth $10,068,000 after purchasing an additional 99,948 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of Aviat Networks by 59.1% during the 3rd quarter. Jane Street Group LLC now owns 24,737 shares of the communications equipment provider’s stock valued at $535,000 after purchasing an additional 9,186 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Aviat Networks by 1.6% in the 3rd quarter. State Street Corp now owns 237,689 shares of the communications equipment provider’s stock valued at $5,141,000 after purchasing an additional 3,855 shares during the last quarter. 78.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on AVNW. B. Riley decreased their target price 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. Northland Securities reduced their price target on shares of Aviat Networks from $40.00 to $35.00 and set an “outperform” rating for the company in a research report on Tuesday, October 8th. Lake Street Capital lowered their price objective on shares of Aviat Networks from $45.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. JMP Securities restated a “market outperform” rating and issued a $50.00 target price on shares of Aviat Networks in a report on Tuesday, October 8th. Finally, StockNews.com cut Aviat Networks from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.60.

Aviat Networks Trading Down 1.3 %

Aviat Networks stock opened at $17.88 on Tuesday. Aviat Networks has a 12 month low of $12.95 and a 12 month high of $38.85. The company has a quick ratio of 1.40, a current ratio of 1.72 and a debt-to-equity ratio of 0.33. The stock has a market cap of $226.90 million, a P/E ratio of -57.68 and a beta of 1.72. The company’s fifty day simple moving average is $18.28 and its 200-day simple moving average is $23.96.

Aviat Networks (NASDAQ:AVNW) last released its quarterly earnings data on Friday, October 4th. The communications equipment provider reported $0.58 earnings per share (EPS) for the quarter. Aviat Networks had a positive return on equity of 4.94% and a negative net margin of 0.98%. The firm had revenue of $116.66 million during the quarter. As a group, sell-side analysts forecast that Aviat Networks will post 1.13 EPS for the current fiscal year.

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.