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

Aviat Networks, Inc. (NASDAQ:AVNW) was the recipient of a large decrease in short interest in October. As of October 31st, there was short interest totalling 478,700 shares, a decrease 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 presently 2.6 days.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Lake Street Capital reduced their price target on shares of Aviat Networks from $45.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. StockNews.com lowered shares of Aviat Networks from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Roth Mkm dropped their price objective on Aviat Networks from $43.00 to $39.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. B. Riley decreased their target price on Aviat Networks from $55.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, September 13th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $50.00 price target on shares of Aviat Networks in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.60.

Insider Transactions at Aviat Networks

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

Hedge Funds Weigh In On Aviat Networks

Several hedge funds have recently bought and sold shares of AVNW. Royce & Associates LP lifted its stake in Aviat Networks by 8.5% in the 3rd 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. raised its position in shares of Aviat Networks by 2.2% in 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. boosted its stake in Aviat Networks by 27.3% during 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 period. Dimensional Fund Advisors LP grew its position in Aviat Networks by 1.9% during 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. increased its stake in Aviat Networks by 8.7% in the 2nd 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. Hedge funds and other institutional investors own 78.62% of the company’s stock.

Aviat Networks Stock Performance

Shares of NASDAQ:AVNW traded down $0.12 during trading on Friday, hitting $13.79. 304,596 shares of the company were exchanged, compared to its average volume of 288,777. Aviat Networks has a 52-week low of $12.95 and a 52-week high of $38.85. The stock has a 50 day moving average of $20.62 and a 200 day moving average of $26.14. The company has a current ratio of 1.72, a quick ratio of 1.40 and a debt-to-equity ratio of 0.33.

Aviat Networks (NASDAQ:AVNW) last issued 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 business had revenue of $116.66 million for the quarter. On average, equities research analysts anticipate that Aviat Networks will post 1.13 earnings per share 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.