Avaya Holdings Corp (NYSE:AVYA) Short Interest Up 10.4% in June

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.

Avaya (NYSE:AVYA) last announced its earnings results on Thursday, May 9th. The company reported $0.72 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.72. The company had revenue of $714.00 million during the quarter, compared to the consensus estimate of $748.47 million. Avaya had a net margin of 6.12% and a return on equity of 15.77%. Avaya’s revenue for the quarter was down 5.7% on a year-over-year basis. As a group, research analysts anticipate that Avaya will post 3.17 earnings per share for the current fiscal year.

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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