Aviat Networks, Inc. (NASDAQ:AVNW) Short Interest Down 12.0% in October

Aviat Networks, Inc. (NASDAQ:AVNW) was the target of a significant drop in short interest in October. As of October 31st, there was short interest totalling 478,700 shares, a drop of 12.0% from the October 15th total of 544,000 shares. Based on an average trading volume of 185,800 shares, the days-to-cover ratio is currently 2.6 days.

Analysts Set New Price Targets

AVNW has been the topic of a number of recent research reports. B. Riley lowered their target price on Aviat Networks from $55.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Lake Street Capital dropped 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 note on Wednesday, November 6th. StockNews.com cut shares of Aviat Networks from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. JMP Securities restated a “market outperform” rating and set a $50.00 price target on shares of Aviat Networks in a research report on Tuesday, October 8th. Finally, Northland Securities decreased their price objective 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. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $38.60.

Insiders Place Their Bets

In other news, CFO Michael Connaway bought 3,500 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were purchased at an average price of $14.13 per share, for a total transaction of $49,455.00. Following the completion of the transaction, the chief financial officer now directly owns 57,893 shares in the company, valued at approximately $818,028.09. This represents a 6.43 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Pete A. Smith acquired 3,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was acquired at an average price of $14.13 per share, for a total transaction of $42,390.00. Following the purchase, the chief executive officer now directly owns 298,539 shares of the company’s stock, valued at approximately $4,218,356.07. This trade represents a 1.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Aviat Networks

A number of hedge funds have recently made changes to their positions in AVNW. Royce & Associates LP increased its position in shares of Aviat Networks by 8.5% during the third quarter. Royce & Associates LP now owns 696,394 shares of the communications equipment provider’s stock worth $15,063,000 after purchasing an additional 54,339 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Aviat Networks by 2.2% during the first quarter. Vanguard Group Inc. now owns 552,071 shares of the communications equipment provider’s stock worth $21,166,000 after buying an additional 11,662 shares in the last quarter. Hodges Capital Management Inc. raised its position in shares of Aviat Networks by 27.3% in the third quarter. Hodges Capital Management Inc. now owns 465,483 shares of the communications equipment provider’s stock valued at $10,068,000 after buying an additional 99,948 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Aviat Networks by 1.9% in the second quarter. Dimensional Fund Advisors LP now owns 425,538 shares of the communications equipment provider’s stock worth $12,208,000 after buying an additional 7,968 shares in the last quarter. Finally, Select Equity Group L.P. boosted its position in Aviat Networks by 8.7% during the second quarter. Select Equity Group L.P. now owns 380,184 shares of the communications equipment provider’s stock worth $10,907,000 after acquiring an additional 30,582 shares during the last quarter. Institutional investors and hedge funds own 78.62% of the company’s stock.

Aviat Networks Price Performance

Shares of NASDAQ AVNW opened at $13.79 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.40 and a current ratio of 1.72. The firm has a fifty day moving average of $20.62 and a 200 day moving average of $26.08. The firm has a market cap of $175.00 million, a PE ratio of -44.48 and a beta of 1.81. Aviat Networks has a one year low of $12.95 and a one year high of $38.85.

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

Aviat Networks Company Profile

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.