Insider Selling: Tessler Michael, American Virtual Cloud Technologies Inc. [AVCT] Director divested 41,667 shares

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. American Virtual Cloud Technologies Inc. shares valued at $7,563 were sold by Tessler Michael on Aug 02. At $0.18 per share, Tessler Michael sold 41,667 shares. The insider’s holdings dropped to 916,666 shares worth approximately $0.2 million following the completion of this transaction.

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Also, MOCK LAWRENCE E, JR. purchased 250,000 shares, netting a total of over 100,000 in proceeds. Following the buying of shares at $0.40 each, the insider now holds 21,423,995 shares.

Before that, LOCKHART DENNIS P had added 260,000 shares to its account. In a trade valued at $101,400, the Director bought American Virtual Cloud Technologies Inc. shares for $0.39 each. Upon closing the transaction, the insider’s holdings increased to 260,000 shares, worth approximately $63143.3.

As published in their initiating research note from Loop Capital on April 14, 2021, American Virtual Cloud Technologies Inc. [AVCT] has been a Buy and the price target has been revised to $17. This represents a 98.71% premium over Wednesday’s closing price.

Analyzing AVCT’s Price Performance

On Wednesday, American Virtual Cloud Technologies Inc. [NASDAQ: AVCT] rose 1.13% to $0.22. The stock’s lowest price that day was $0.2011, but it reached a high of $0.2275 in the same session. During the last five days, there has been a surge of approximately 18.08%. Over the course of the year, American Virtual Cloud Technologies Inc. shares have dropped approximately -91.13%. Shares of the company reached a 52-week high of $2.8500 on 01/03/22 and a 52-week low of $0.1320 on 08/23/22. A 50-day SMA is recorded $0.2126, while a 200-day SMA reached $0.7763. Nevertheless, trading volume fell to 45.85 million shares from 84.2 million shares the previous day.

Support And Resistance Levels for American Virtual Cloud Technologies Inc. (AVCT)

According to the 24-hour chart, there is a support level at 0.2019, which, if violated, would cause prices to drop to 0.1883. In the upper region, resistance lies at 0.2283. The next price resistance is at 0.2411. RSI (Relative Strength Index) is 50.29 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.0179, which suggests the price will decrease in the coming days. Percent R is at 78.74%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is American Virtual Cloud Technologies Inc. subject to short interest?

Stocks of American Virtual Cloud Technologies Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -2.33 million shares to 6.13 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 8.46 million shares. A decline of -38.01% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.15 of the overall float, the days-to-cover ratio (short ratio) decline to 3.15.

Which companies own the most shares of American Virtual Cloud Technologies Inc. (AVCT)?

According to Cresset Asset Management LLC filings, the company currently owns 2,001,054 shares, which is about 1.43% of the total AVCT shares outstanding. BlackRock Fund Advisors reduced a -10.68% interest valued at $0.32 million while Geode Capital Management LLC 0 stake. In its current portfolio, The Bank of New York Mellon Corp holds 321,097 shares valued at $0.15 million.

In terms of American Virtual Cloud Technologies Inc. share price expectations, FactSet research, analysts set an average price target of $7.00 in the next 12 months, up nearly 3233.33% from the previous closing price of $0.21. Analysts anticipate American Virtual Cloud Technologies Inc. stock to reach $7.00 by 2022, with the lowest price target being $7.00. In spite of this, 1 analysts ranked American Virtual Cloud Technologies Inc. stock as a Buy at the end of 2022.


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