Aviat Networks (NASDAQ:AVNW) Stock Price Passes Above 200 Day Moving Average - Here's Why

Key Points

• Aviat Networks shares moved above their 200-day moving average, reaching $22.62 and last trading at $22.04, compared with a 200-day average of $21.51.
• Analyst sentiment is broadly positive: eight analysts rate the stock Buy, with an average “Moderate Buy” rating and a $33.14 price target, though one firm downgraded it to Hold and another lowered its target to $25.
• Institutional investors own 78.62% of the company, while Aviat reports a $285.2 million market capitalization, a 31.94 price-to-earnings ratio and relatively modest debt-to-equity of 0.36.

Aviat Networks, Inc. (NASDAQ:AVNW - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $21.51 and traded as high as $22.62. Aviat Networks shares last traded at $22.04, with a volume of 138,669 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wall Street Zen cut Aviat Networks from a "buy" rating to a "hold" rating in a research report on Sunday, April 26th. Citizens Jmp dropped their target price on shares of Aviat Networks from $30.00 to $25.00 and set a "market outperform" rating on the stock in a research report on Wednesday, May 6th. Lake Street Capital set a $31.00 target price on shares of Aviat Networks and gave the company a "buy" rating in a research note on Tuesday, May 5th. Rafferty Capital Markets began coverage on shares of Aviat Networks in a research report on Tuesday, June 30th. They issued a "buy" rating and a $36.00 price target on the stock. Finally, Craig Hallum started coverage on shares of Aviat Networks in a report on Tuesday, June 30th. They set a "buy" rating and a $36.00 price objective on the stock. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Aviat Networks has an average rating of "Moderate Buy" and an average target price of $33.14.

Aviat Networks Stock Performance

The stock has a market capitalization of $285.20 million, a price-to-earnings ratio of 31.94 and a beta of 0.70. The company has a 50 day simple moving average of $20.74 and a 200-day simple moving average of $21.51. The company has a quick ratio of 1.67, a current ratio of 1.99 and a debt-to-equity ratio of 0.36.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AVNW. Quarry LP purchased a new position in Aviat Networks in the 3rd quarter valued at approximately $27,000. Raymond James Financial Inc. bought a new position in shares of Aviat Networks in the second quarter worth 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 grew its holdings 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 buying an additional 780 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position 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 acquiring an additional 1,120 shares in the last quarter. Institutional investors and hedge funds own 78.62% of the company's stock.

About Aviat Networks

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.

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