Aviat Networks (NASDAQ:AVNW) Stock Price Breaks Above 50 Day Moving Average - Should You Sell?

Key Points

• Aviat Networks shares moved above their 50-day moving average, trading as high as $20.60 and most recently at $20.12, versus a 50-day average of $20.03.
• Analyst views are mixed, but the overall consensus is “Moderate Buy” with a $32.71 average price target; eight analysts rate the stock Buy and two rate it Sell.
• The company beat quarterly expectations, reporting EPS of $0.64 versus $0.55 expected and revenue of $120.89 million versus $110.12 million expected. Company insiders also sold 16,240 shares in the last quarter.

Aviat Networks, Inc. (NASDAQ:AVNW - Get Free Report) crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $20.03 and traded as high as $20.60. Aviat Networks shares last traded at $20.12, with a volume of 113,708 shares trading hands.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Wall Street Zen raised Aviat Networks from a "hold" rating to a "buy" rating in a report on Saturday, October 3rd. Citigroup reissued a "market outperform" rating on shares of Aviat Networks in a report on Friday, August 28th. Roth Capital reissued a "buy" rating and issued a $38.00 price target (up from $34.00) on shares of Aviat Networks in a report on Friday, August 28th. Weiss Ratings lowered Aviat Networks from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday. Finally, Zacks Research cut shares of Aviat Networks from a "hold" rating to a "strong sell" rating in a research note on Wednesday, October 7th. Eight research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $32.71.

Aviat Networks Stock Performance

The business's 50-day simple moving average is $20.03 and its two-hundred day simple moving average is $21.14. The firm has a market cap of $258.74 million, a price-to-earnings ratio of 105.89 and a beta of 0.77. The company has a quick ratio of 1.66, a current ratio of 1.97 and a debt-to-equity ratio of 0.33.

Aviat Networks (NASDAQ:AVNW - Get Free Report) last posted its earnings results on Thursday, August 27th. The communications equipment provider reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.09. Aviat Networks had a net margin of 0.58% and a return on equity of 5.85%. The business had revenue of $120.89 million for the quarter, compared to analyst estimates of $110.12 million. As a group, sell-side analysts expect that Aviat Networks, Inc. will post 2.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Aviat Networks news, VP Erin Boase sold 1,347 shares of the stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $19.69, for a total transaction of $26,522.43. Following the transaction, the vice president owned 28,275 shares in the company, valued at approximately $556,734.75. This represents a 4.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Pete Smith sold 14,264 shares of the company's stock in a transaction on Monday, August 31st. The stock was sold at an average price of $19.69, for a total transaction of $280,858.16. Following the transaction, the chief executive officer owned 367,840 shares of the company's stock, valued at $7,242,769.60. This represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 16,240 shares of company stock worth $319,766 in the last quarter. 5.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Aviat Networks

Hedge funds have recently modified their holdings of the business. Tectonic Advisors LLC lifted its stake in Aviat Networks by 14.3% in the 3rd quarter. Tectonic Advisors LLC now owns 37,073 shares of the communications equipment provider's stock worth $743,000 after purchasing an additional 4,640 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Aviat Networks in the third quarter worth approximately $748,000. Farther Finance Advisors LLC grew its position in Aviat Networks by 1,026.8% in the third quarter. Farther Finance Advisors LLC now owns 1,893 shares of the communications equipment provider's stock worth $38,000 after acquiring an additional 1,725 shares during the period. WINTON GROUP Ltd increased its stake in Aviat Networks by 6.1% during the second quarter. WINTON GROUP Ltd now owns 12,050 shares of the communications equipment provider's stock worth $268,000 after acquiring an additional 692 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in Aviat Networks during the second quarter worth $1,095,000. 78.62% of the stock is currently owned by institutional investors and hedge funds.

Aviat Networks Company Profile

Aviat Networks, Inc provides wireless networking solutions for communications service providers, government agencies and enterprises. The company specializes in mission-critical connectivity for applications where reliable, high-capacity communications are essential, including telecommunications, public safety, utilities, transportation and defense.

Its product portfolio includes microwave and millimeter-wave wireless transmission systems, routers, access and aggregation equipment, network management software and related cybersecurity solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.