Aviat Networks (NASDAQ:AVNW) Shares Break Above Fifty Day Moving Average – Here’s What Happened

Aviat Networks, Inc. (NASDAQ:AVNW) shares passed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $20.03 and traded as high as $20.60. Aviat Networks shares last traded at $20.12, with a volume of 113,708 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have commented on AVNW. Weiss Ratings cut shares of Aviat Networks from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday. B. Riley Financial reiterated a “buy” rating and set a $33.00 price target (up from $28.00) on shares of Aviat Networks in a research report on Friday, August 28th. Citigroup reissued a “market outperform” rating on shares of Aviat Networks in a research note on Friday, August 28th. Roth Capital restated a “buy” rating and issued a $38.00 price objective (up from $34.00) on shares of Aviat Networks in a report on Friday, August 28th. Finally, Wall Street Zen upgraded shares of Aviat Networks from a “hold” rating to a “buy” rating in a report on Saturday, October 3rd. Eight analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $32.71.

Aviat Networks Trading Up 1.7%

The company has a 50 day moving average of $20.03 and a 200-day moving average of $21.14. The stock has a market cap of $258.74 million, a price-to-earnings ratio of 105.89 and a beta of 0.77. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.66 and a current ratio of 1.97.

Aviat Networks (NASDAQ:AVNW) last released its earnings results on Thursday, August 27th. The communications equipment provider reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.09. The company had revenue of $120.89 million during the quarter, compared to the consensus estimate of $110.12 million. Aviat Networks had a return on equity of 5.85% and a net margin of 0.58%. On average, research analysts anticipate that Aviat Networks, Inc. will post 2.09 earnings per share for the current year.

Insider Activity at Aviat Networks

In other news, VP Erin Boase sold 1,347 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $19.69, for a total value of $26,522.43. Following the completion of the transaction, the vice president owned 28,275 shares of the company’s stock, valued at approximately $556,734.75. This trade represents a 4.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Pete Smith sold 14,264 shares of Aviat Networks stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $19.69, for a total transaction of $280,858.16. Following the completion of the transaction, the chief executive officer owned 367,840 shares of the company’s stock, valued at $7,242,769.60. This trade represents a 3.73% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 16,240 shares of company stock valued at $319,766. Insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Aviat Networks

Several institutional investors have recently modified their holdings of AVNW. WINTON GROUP Ltd increased its position in shares of Aviat Networks by 6.1% during the second quarter. WINTON GROUP Ltd now owns 12,050 shares of the communications equipment provider’s stock worth $268,000 after acquiring an additional 692 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Aviat Networks by 1,026.8% in the third quarter. Farther Finance Advisors LLC now owns 1,893 shares of the communications equipment provider’s stock valued at $38,000 after acquiring an additional 1,725 shares in the last quarter. Fifth Third Bancorp acquired a new stake in shares of Aviat Networks in the first quarter valued at $53,000. Ancora Advisors LLC purchased a new position in Aviat Networks in the second quarter valued at $55,000. Finally, Quantinno Capital Management LP boosted its holdings in Aviat Networks by 27.9% in the first quarter. Quantinno Capital Management LP now owns 20,038 shares of the communications equipment provider’s stock valued at $453,000 after purchasing an additional 4,367 shares during the period. Institutional investors and hedge funds own 78.62% of the company’s stock.

Aviat Networks Company Profile

Aviat Networks, Inc provides wireless networking solutions for communications service providers, government agencies and enterprises. The company specializes in mission-critical connectivity for applications where reliable, high-capacity communications are essential, including telecommunications, public safety, utilities, transportation and defense.

Its product portfolio includes microwave and millimeter-wave wireless transmission systems, routers, access and aggregation equipment, network management software and related cybersecurity solutions.