Avaya Holdings Corp (NYSE:AVYA) was the recipient of a significant increase in short interest in June. As of June 30th, there was short interest totalling 11,791,200 shares, an increase of 10.4% from the May 30th total of 10,677,600 shares. Based on an average daily volume of 1,550,000 shares, the short-interest ratio is currently 7.6 days. Approximately 10.8% of the company’s stock are short sold.
A number of research firms have recently issued reports on AVYA. Zacks Investment Research downgraded shares of ExlService from a “hold” rating to a “sell” rating in a research note on Wednesday, July 10th. Citigroup set a $12.00 target price on shares of Avaya and gave the company a “hold” rating in a research note on Monday, July 8th. Northland Securities set a $50.00 target price on shares of Polarityte and gave the company a “buy” rating in a research note on Friday, May 10th. Finally, BWS Financial lowered their target price on shares of Avaya from $32.00 to $22.00 and set a “hold” rating for the company in a research note on Friday, May 10th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Avaya currently has an average rating of “Hold” and an average price target of $19.44.
Shares of AVYA opened at $11.23 on Tuesday. The firm has a market capitalization of $1.24 billion, a P/E ratio of 3.93 and a beta of 1.70. Avaya has a twelve month low of $10.86 and a twelve month high of $23.40. The company has a current ratio of 1.37, a quick ratio of 1.31 and a debt-to-equity ratio of 1.45. The company has a 50 day moving average price of $11.97.
Large investors have recently bought and sold shares of the company. Skylands Capital LLC lifted its stake in shares of Avaya by 314.0% during the first quarter. Skylands Capital LLC now owns 285,450 shares of the company’s stock worth $4,804,000 after buying an additional 216,500 shares during the period. Legal & General Group Plc lifted its stake in shares of Avaya by 7.2% during the fourth quarter. Legal & General Group Plc now owns 43,331 shares of the company’s stock worth $631,000 after buying an additional 2,912 shares during the period. Paloma Partners Management Co acquired a new stake in shares of Avaya during the fourth quarter worth $154,000. Strs Ohio lifted its stake in shares of Avaya by 10.8% during the first quarter. Strs Ohio now owns 64,500 shares of the company’s stock worth $1,085,000 after buying an additional 6,300 shares during the period. Finally, Norges Bank acquired a new stake in shares of Avaya during the fourth quarter worth $11,585,000. Institutional investors and hedge funds own 99.96% of the company’s stock.
Avaya Company Profile
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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