Potential Price Increase for Aviat Networks Inc. (AVNW) After Recent Insider Activity

In a filing, Aviat Networks Inc. revealed its President and CEO SMITH PETE A acquired Company’s shares for reported $29832.0 on May 12. In the deal valued at $29.83 per share,1,000 shares were bought. As a result of this transaction, SMITH PETE A now holds 192,918 shares worth roughly $ 6.97 million.

Then, Gray David M bought 500 shares, generating $15,877 in total proceeds. Upon buying the shares at $31.75, the Sr VP and CFO now owns 11,834 shares.

Lake Street initiated its Aviat Networks Inc. [AVNW] rating to a Buy in a research note published on Friday, June 06, 2023; the price target was $51. PT values the company’s stock at a premium of 29.12 to its Friday closing price.

Price Performance Review of AVNW

On Friday, Aviat Networks Inc. [NASDAQ:AVNW] saw its stock jump 2.58% to $36.15. On the same session, the stock had its day’s lowest price of $35.3435, but rose to a high of $36.20. Over the last five days, the stock has gained 9.38%. Aviat Networks Inc. shares have risen nearly 15.90% since the year began. Nevertheless, the stocks have risen 15.50% over the past one year. While a 52-week high of $39.80 was reached on 02/02/23, a 52-week low of $21.15 was recorded on 05/04/23. SMA at 50 days reached $31.34, while 200 days put it at $32.28. A total of 87030.0 shares were traded, compared to the trading of 0.11 million shares in the previous session.

Levels Of Support And Resistance For AVNW Stock

The 24-hour chart illustrates a support level at 35.60, which if violated will result in even more drops to 35.04. On the upside, there is a resistance level at 36.45. A further resistance level may holdings at 36.75. The Relative Strength Index (RSI) on the 14-day chart is 75.49, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 3.77, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 0.58%. Stochastics %K at 96.71% indicates the stock is a selling.

How much short interest is there in Aviat Networks Inc.?

A steep rise in short interest was recorded in Aviat Networks Inc. stocks on Aug 14, 2023, dropping by 1830.0 shares to a total of 0.35 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 0.36 million shares. There was a decline of -0.52%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 3.17% of the overall stock float, the days-to-cover ratio (short ratio) fell to 6.75.

Aviat Networks Inc. [AVNW] – Who Are The Largest Shareholders?

In filings from Paradigm Capital Management, Inc., it is revealed that the company now owns 751,711 shares, or roughly 6.57% of the outstanding AVNW shares. In other words, the investor’s shares have risen by 270,312 from its previous 13-F filing of 481399.0. Additionally, Royce & Associates LP increased 8.73% of its stake after which the total value it holdings stand at $18,539,788, while AIGH Capital Management LLC reduced -6.04% of its stake to hold $15.31 million in the firm. Over the last quarter, Punch & Associates Investment Man purchased 1,690 shares of Aviat Networks Inc., while The Vanguard Group, Inc. bought 767 shares. At present, BlackRock Fund Advisors is holding 489,600 shares valued at $14.97 million. Select Equity Group LP owned 452,357 shares of the company at the time of its most recent 13F filing, worth $13.83 million.

According to FactSet, Aviat Networks Inc.’s share price will average $56.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 64.59 percent from its previous closing price of $35.24. Analysts expect Aviat Networks Inc. stock to reach the higher price of $60.00, while the lowest price estimate is $50.00. However, 6 analysts have rated AVNW stock as a Buy in their predictions for 2023.