Avista Corporation (AVA) rating upgrades by KeyBanc Capital Markets

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ZOM Stock

Avista Corporation’s filing revealed that its Chairman of the Board MORRIS SCOTT L acquired Company’s shares for reported $0.1 million on Aug 24. In the deal valued at $32.39 per share,3,100 shares were bought. As a result of this transaction, MORRIS SCOTT L now holds 128,169 shares worth roughly $ 4.21 million.

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Then, MEYER DAVID J sold 1,050 shares, generating $38,440 in total proceeds. Upon selling the shares at $36.61, the Vice President now owns 4,677 shares.

Before that, MEYER DAVID J sold 1,050 shares. Avista Corporation shares valued at $38,745 were divested by the Vice President at a price of $36.90 per share. As a result of the transaction, MEYER DAVID J now holds 5,727 shares, worth roughly $0.19 million.

KeyBanc Capital Markets upgraded its Avista Corporation [AVA] rating to a Sector weight from a an Underweight in a research note published on Tuesday.

Price Performance Review of AVA

On Tuesday, Avista Corporation [NYSE:AVA] saw its stock fall -1.59% to $32.83. On the same session, the stock had its day’s lowest price of $32.345, but rose to a high of $33.22. Over the last five days, the stock has lost -2.03%. Avista Corporation shares have fallen nearly -25.96% since the year began. Nevertheless, the stocks have fallen -20.43% over the past one year. While a 52-week high of $45.28 was reached on 01/04/23, a 52-week low of $32.27 was recorded on 08/24/23. SMA at 50 days reached $36.80, while 200 days put it at $40.69. A total of 0.54 million shares were traded, compared to the trading of 0.65 million shares in the previous session.

Levels Of Support And Resistance For AVA Stock

The 24-hour chart illustrates a support level at 32.38, which if violated will result in even more drops to 31.92. On the upside, there is a resistance level at 33.25. A further resistance level may holdings at 33.67. The Relative Strength Index (RSI) on the 14-day chart is 29.32, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.09, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 72.88%. Stochastics %K at 32.71% indicates the stock is a holding.

How much short interest is there in Avista Corporation?

A steep rise in short interest was recorded in Avista Corporation stocks on Aug 14, 2023, dropping by -0.96 million shares to a total of 1.25 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 2.21 million shares. There was a decline of -76.8%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 3.06% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.1.

Avista Corporation [AVA] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 13,025,832 shares, or roughly 17.19% of the outstanding AVA shares. In other words, the investor’s shares have risen by 221,965 from its previous 13-F filing of 12803867.0. Additionally, SSgA Funds Management, Inc. increased 0.55% of its stake after which the total value it holdings stand at $468,130,130, while The Vanguard Group, Inc. reduced -0.30% of its stake to hold $352.12 million in the firm. Over the last quarter, The Public Sector Pension Investm purchased 385 shares of Avista Corporation, while First Trust Advisors LP bought 85,987 shares. At present, Hotchkis & Wiley Capital Manageme is holding 1,710,169 shares valued at $66.08 million. Westwood Management Corp. owned 1,520,246 shares of the company at the time of its most recent 13F filing, worth $58.74 million.

According to FactSet, Avista Corporation’s share price will average $40.25 in the next year, based on opinions of analysts polled by the firm. This is up nearly 16.91 percent from its previous closing price of $33.36. Analysts expect Avista Corporation stock to reach the higher price of $50.00, while the lowest price estimate is $33.00. However, 5 analysts have rated AVA stock as a Hold in their predictions for 2023.


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