Manatuck Hill Partners LLC Decreases Stock Position in Aviat Networks, Inc. $AVNW

Manatuck Hill Partners LLC lowered its stake in Aviat Networks, Inc. (NASDAQ:AVNW) by 54.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,800 shares of the communications equipment provider’s stock after selling 49,500 shares during the period. Manatuck Hill Partners LLC owned approximately 0.32% of Aviat Networks worth $872,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Quarry LP purchased a new stake in shares of Aviat Networks during the third quarter valued at approximately $27,000. Raymond James Financial Inc. purchased a new stake in shares of Aviat Networks during the second quarter valued at approximately $28,000. Potomac Capital Management Inc. purchased a new stake in shares of Aviat Networks during the fourth quarter valued at approximately $43,000. Comerica Bank boosted its stake in shares of Aviat Networks by 40.2% during the first quarter. Comerica Bank now owns 2,720 shares of the communications equipment provider’s stock valued at $52,000 after purchasing an additional 780 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in shares of Aviat Networks by 96.5% during the third quarter. BNP Paribas Financial Markets now owns 2,281 shares of the communications equipment provider’s stock valued at $52,000 after purchasing an additional 1,120 shares during the period. Hedge funds and other institutional investors own 78.62% of the company’s stock.

Aviat Networks Trading Down 2.9%

NASDAQ:AVNW opened at $19.96 on Thursday. The company has a 50-day moving average price of $19.20 and a 200-day moving average price of $21.66. Aviat Networks, Inc. has a 12 month low of $13.92 and a 12 month high of $27.02. The company has a current ratio of 1.99, a quick ratio of 1.67 and a debt-to-equity ratio of 0.36. The stock has a market cap of $258.28 million, a price-to-earnings ratio of 28.93 and a beta of 0.74.

Aviat Networks (NASDAQ:AVNW) last posted its earnings results on Monday, May 4th. The communications equipment provider reported $0.06 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.36). Aviat Networks had a return on equity of 6.89% and a net margin of 2.08%.The company had revenue of $100.00 million during the quarter, compared to analysts’ expectations of $106.39 million. Equities analysts predict that Aviat Networks, Inc. will post 1.14 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Lake Street Capital set a $31.00 price objective on Aviat Networks and gave the company a “buy” rating in a research note on Tuesday, May 5th. Citizens Jmp dropped their price objective on Aviat Networks from $30.00 to $25.00 and set a “market outperform” rating for the company in a research note on Wednesday, May 6th. Citigroup upgraded Aviat Networks to an “outperform” rating in a report on Monday. Weiss Ratings downgraded Aviat Networks from a “hold (c)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. Finally, Zacks Research downgraded Aviat Networks from a “hold” rating to a “strong sell” rating in a report on Friday, May 8th. Six equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, Aviat Networks presently has an average rating of “Moderate Buy” and an average price target of $31.00.

Aviat Networks Profile

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.