Avaya Holdings Corp (NYSE:AVYA) saw a significant increase in short interest in October. As of October 31st, there was short interest totalling 16,220,000 shares, an increase of 5.3% from the September 30th total of 15,400,000 shares. Currently, 14.8% of the company’s stock are short sold. Based on an average daily volume of 2,860,000 shares, the days-to-cover ratio is currently 5.7 days.
Shares of AVYA opened at $12.35 on Tuesday. The company has a current ratio of 1.41, a quick ratio of 1.35 and a debt-to-equity ratio of 2.10. The firm has a market cap of $1.37 billion, a PE ratio of 4.58 and a beta of 1.54. The company’s 50 day simple moving average is $12.26 and its 200-day simple moving average is $12.50. Avaya has a 12-month low of $9.72 and a 12-month high of $22.35.
Several institutional investors and hedge funds have recently made changes to their positions in AVYA. FMR LLC purchased a new position in shares of Avaya during the first quarter worth approximately $20,120,000. First Trust Advisors LP grew its position in shares of Avaya by 20.4% during the first quarter. First Trust Advisors LP now owns 146,131 shares of the company’s stock worth $2,459,000 after acquiring an additional 24,764 shares during the last quarter. AEGON USA Investment Management LLC grew its position in shares of Avaya by 2.4% during the second quarter. AEGON USA Investment Management LLC now owns 172,284 shares of the company’s stock worth $2,052,000 after acquiring an additional 4,100 shares during the last quarter. Xact Kapitalforvaltning AB purchased a new position in shares of Avaya during the second quarter worth approximately $138,000. Finally, FNY Investment Advisers LLC purchased a new position in shares of Avaya during the second quarter worth approximately $222,000. Institutional investors and hedge funds own 99.55% of the company’s stock.
A number of analysts have weighed in on AVYA shares. Citigroup raised their price objective on shares of Avaya from $12.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Morgan Stanley raised their price objective on shares of Avaya from $14.00 to $16.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Zacks Investment Research cut shares of Avaya from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Northland Securities set a $21.00 target price on shares of Avaya and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, BWS Financial set a $22.00 target price on shares of Avaya and gave the stock a “buy” rating in a research report on Friday, September 13th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $18.88.
Avaya Holdings Corp., through its subsidiaries, provides digital communications products, solutions, and services for businesses worldwide. The company operates through two segments, Products & Solutions, and Services. The Products & Solutions segment offers unified communications and contact center platforms, applications, and devices.
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