Short Interest in Aviat Networks, Inc. (NASDAQ:AVNW) Rises By 9.5%

Aviat Networks, Inc. (NASDAQ:AVNW) was the target of a significant 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 short-interest ratio is presently 2.3 days.

Analyst Ratings Changes

Several research firms have issued reports on AVNW. Lake Street Capital lowered their price objective 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. JMP Securities reiterated a “market outperform” rating and issued a $50.00 target price on shares of Aviat Networks in a research note on Tuesday, October 8th. Roth Mkm reduced their price target on Aviat Networks from $43.00 to $39.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. 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. Finally, B. Riley lowered their price target 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. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.60.

Insider Buying and Selling at Aviat Networks

In other Aviat Networks news, CFO Michael Connaway bought 3,500 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were purchased at an average price of $14.13 per share, with a total value of $49,455.00. Following the completion of the purchase, the chief financial officer now owns 57,893 shares in the company, valued at $818,028.09. This represents a 6.43 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Pete A. Smith purchased 3,000 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 $42,390.00. Following the completion of the purchase, the chief executive officer now directly owns 298,539 shares in the company, valued at $4,218,356.07. The trade was a 1.02 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 7,400 shares of company stock worth $106,110 over the last quarter. Insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Aviat Networks

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

Aviat Networks Price Performance

Aviat Networks stock traded up $0.23 during trading on Friday, reaching $18.12. The company had a trading volume of 314,696 shares, compared to its average volume of 131,063. 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 market capitalization of $229.94 million, a PE ratio of -58.45 and a beta of 1.72. Aviat Networks has a 1-year low of $12.95 and a 1-year high of $38.85. The firm’s 50-day simple moving average is $18.37 and its 200 day simple moving average is $24.10.

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