American Virtual Cloud Technologies, Inc. (NASDAQ:AVCT – Get Rating) saw a large decline in short interest during the month of December. As of December 30th, there was short interest totalling 2,070,000 shares, a decline of 10.4% from the December 15th total of 2,310,000 shares. Based on an average trading volume of 3,610,000 shares, the short-interest ratio is currently 0.6 days.
American Virtual Cloud Technologies Stock Down 11.0 %
NASDAQ:AVCT traded down $0.07 during mid-day trading on Monday, reaching $0.60. 6,300,900 shares of the company's stock traded hands, compared to its average volume of 5,861,583. American Virtual Cloud Technologies has a 12-month low of $0.55 and a 12-month high of $21.45. The company has a 50 day moving average price of $1.01 and a 200-day moving average price of $2.19.
Get American Virtual Cloud Technologies alerts:American Virtual Cloud Technologies (NASDAQ:AVCT – Get Rating) last announced its quarterly earnings results on Monday, November 14th. The company reported ($2.27) earnings per share (EPS) for the quarter. American Virtual Cloud Technologies had a negative net margin of 583.38% and a negative return on equity of 8,361.74%. The business had revenue of $4.74 million for the quarter.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the business. Cresset Asset Management LLC grew its holdings in shares of American Virtual Cloud Technologies by 14.3% during the 1st quarter. Cresset Asset Management LLC now owns 2,001,054 shares of the company's stock worth $1,871,000 after acquiring an additional 250,000 shares during the period. Vanguard Group Inc. grew its holdings in shares of American Virtual Cloud Technologies by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 1,560,299 shares of the company's stock worth $1,459,000 after acquiring an additional 90,732 shares during the period. BlackRock Inc. grew its holdings in shares of American Virtual Cloud Technologies by 48.1% during the 1st quarter. BlackRock Inc. now owns 779,266 shares of the company's stock worth $729,000 after acquiring an additional 253,192 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of American Virtual Cloud Technologies by 34.5% during the 1st quarter. Bank of New York Mellon Corp now owns 321,656 shares of the company's stock worth $301,000 after acquiring an additional 82,584 shares during the period. Finally, State Street Corp purchased a new position in shares of American Virtual Cloud Technologies during the 1st quarter worth approximately $152,000. Hedge funds and other institutional investors own 8.10% of the company's stock.About American Virtual Cloud Technologies
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American Virtual Cloud Technologies, Inc engages in the provision of technological solutions. Its products include network communications, data storage, desktops and servers. It operates through the Computex and Kandy segments. The Computex segment provides technology solutions through its extensive hardware, software, and value-added service offerings.
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