With 0.97 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.48 million shares. During the session, the Software – Infrastructure company that operates in wider Technology sector, reached to the highest price of $6.21 whereas the lowest price it dropped to was $6.04. The 52-week range on AVPT shows that it touched its highest point at $6.13 and its lowest point at $3.40 during that stretch. It currently has a 1-year price target of $6.62. Beta for the stock currently stands at 0.94.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of AVPT was up-trending over the past week, with a rise of 14.69%, but this was up by 43.97% over a month. Three-month performance surged to 29.30% while six-month performance rose 28.48%. The stock gained 15.34% in the past year, while it has gained 48.18% so far this year. A look at the trailing 12-month EPS for AVPT yields -0.21 with Next year EPS estimates of 0.14. For the next quarter, that number is 0.01. This implies an EPS growth rate of 52.50% for this year and 93.24% for next year.
Float and Shares Shorts:
At present, 182.82 million AVPT shares are outstanding with a float of 116.80 million shares on hand for trading. On Apr 27, 2023, short shares totaled 4.22 million, which was 2.21% higher than short shares on Mar 30, 2023. In addition to Mr. Xunkai Gong as the firm’s Co-founder & Exec. Chairman, Dr. Tianyi Jiang serves as its Co-Founder, CEO & Director.
Through their ownership of 39.57% of AVPT’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 32.68% of AVPT, in contrast to 25.83% held by mutual funds. Shares owned by individuals account for 12.93%. As the largest shareholder in AVPT with 14.89% of the stake, Sixth Street Advisers LLC holds 28,500,592 shares worth 28,500,592. A second-largest stockholder of AVPT, The Vanguard Group, Inc., holds 13,262,184 shares, controlling over 6.93% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in AVPT, holding 7,065,152 shares or 3.69% stake. With a 2.31% stake in AVPT, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 4,421,969 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 1.91% of AVPT stock, is the second-largest Mutual Fund holder. It holds 3,652,204 shares valued at 15.85 million. iShares Russell 2000 ETF holds 1.43% of the stake in AVPT, owning 2,733,460 shares worth 11.86 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, AVPT reported revenue of $55.70M and operating income of -$11.74M. The EBITDA in the recently reported quarter was -$13.78M and diluted EPS was -$0.05.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for AVPT since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With AVPT analysts setting a high price target of $10.00 and a low target of $5.50, the average target price over the next 12 months is $6.80. Based on these targets, AVPT could surge 64.2% to reach the target high and fall by -9.69% to reach the target low. Reaching the average price target will result in a growth of 11.66% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded AVPT stock several times over the past three months with 4 Buys and 8 Sells. In these transactions, 663,506 shares were bought while 88,235 shares were sold. The number of buy transactions has increased to 5 while that of sell transactions has risen to 19 over the past year. The total number of shares bought during that period was 1,657,098 while 1,734,005 shares were sold.