Aviat Networks (NASDAQ:AVNW) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of Aviat Networks, Inc. (NASDAQ:AVNW) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $22.53 and traded as high as $22.74. Aviat Networks shares last traded at $22.39, with a volume of 113,761 shares traded.

Analyst Ratings Changes

A number of research firms have recently commented on AVNW. Zacks Research downgraded Aviat Networks from a “hold” rating to a “strong sell” rating in a report on Monday, December 15th. B. Riley reaffirmed a “buy” rating and issued a $35.00 price objective (up from $33.00) on shares of Aviat Networks in a research note on Wednesday, November 5th. Lake Street Capital reissued a “buy” rating and set a $34.00 target price on shares of Aviat Networks in a research report on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Aviat Networks in a research report on Monday, December 29th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $33.00.

Aviat Networks Stock Down 5.9%

The stock has a market capitalization of $270.54 million, a price-to-earnings ratio of 20.46 and a beta of 0.94. The firm has a 50-day moving average of $21.49 and a 200 day moving average of $22.50. The company has a current ratio of 1.84, a quick ratio of 1.51 and a debt-to-equity ratio of 0.39.

Aviat Networks (NASDAQ:AVNW) last posted its quarterly earnings data on Tuesday, November 4th. The communications equipment provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.10. The company had revenue of $107.32 million for the quarter, compared to analyst estimates of $102.63 million. Aviat Networks had a net margin of 2.95% and a return on equity of 12.04%. On average, sell-side analysts anticipate that Aviat Networks, Inc. will post 0.5 earnings per share for the current year.

Insider Transactions at Aviat Networks

In other Aviat Networks news, Director Bruce M. Taten sold 3,268 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $23.39, for a total value of $76,438.52. Following the transaction, the director directly owned 20,391 shares of the company’s stock, valued at $476,945.49. This represents a 13.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Pete A. Smith sold 5,350 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $23.39, for a total transaction of $125,136.50. Following the sale, the chief executive officer directly owned 349,447 shares of the company’s stock, valued at $8,173,565.33. The trade was a 1.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 5.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Quarry LP bought a new stake in shares of Aviat Networks in the 3rd quarter worth about $27,000. Raymond James Financial Inc. acquired a new stake in Aviat Networks during the second quarter valued at approximately $28,000. Comerica Bank grew its position in shares of Aviat Networks by 40.2% in the 1st quarter. Comerica Bank now owns 2,720 shares of the communications equipment provider’s stock worth $52,000 after acquiring an additional 780 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Aviat Networks by 96.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,281 shares of the communications equipment provider’s stock valued at $52,000 after acquiring an additional 1,120 shares in the last quarter. Finally, State of Wyoming bought a new position in Aviat Networks during the third quarter worth $63,000. 78.62% of the stock is currently owned by institutional investors.

About Aviat Networks

Aviat Networks, Inc is a specialist in wireless transport solutions, designing, manufacturing and selling microwave networking products that enable the secure and reliable transmission of data, voice and video. The company’s offerings address mission-critical communications needs for a broad range of end markets, including telecommunications service providers, utilities, government agencies and enterprises. Its product portfolio spans high-capacity packet microwave radios, IP transport systems and network management software.

Aviat’s core product lines include the WTM series of packet microwave platforms, which deliver scalable throughput and advanced resilience features, and the Eclipse packet microwave systems, which combine broadband capacity with synchronization, security and quality-of-service capabilities.