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American Virtual Cloud Technologies, Inc. (NASDAQ:AVCT – Get Rating) was the recipient of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 6,090,000 shares, an increase of 74.0% from the February 28th total of 3,500,000 shares. Based on an average daily trading volume, of 11,000,000 shares, the days-to-cover ratio is currently 0.6 days.
A number of hedge funds have recently modified their holdings of AVCT. BlackRock Inc. boosted its holdings in American Virtual Cloud Technologies by 2,496.5% in the fourth quarter. BlackRock Inc. now owns 526,074 shares of the company’s stock worth $1,279,000 after purchasing an additional 505,813 shares during the last quarter. Verition Fund Management LLC purchased a new stake in American Virtual Cloud Technologies in the third quarter worth approximately $1,278,000. Geode Capital Management LLC boosted its holdings in American Virtual Cloud Technologies by 1,159.6% in the fourth quarter. Geode Capital Management LLC now owns 432,339 shares of the company’s stock worth $1,050,000 after purchasing an additional 398,016 shares during the last quarter. Goldman Sachs Group Inc. purchased a new stake in American Virtual Cloud Technologies in the fourth quarter worth approximately $722,000. Finally, Marshall Wace LLP purchased a new stake in American Virtual Cloud Technologies in the fourth quarter worth approximately $295,000. Institutional investors own 18.52% of the company’s stock.
NASDAQ:AVCT opened at $0.91 on Monday. The company’s 50 day moving average price is $1.03 and its 200-day moving average price is $1.78. American Virtual Cloud Technologies has a 52 week low of $0.68 and a 52 week high of $8.25.
American Virtual Cloud Technologies Company Profile (Get Rating)
American Virtual Cloud Technologies, Inc is an IT solutions provider that delivers actionable outcomes for organizations by using IT and technology solutions to drive business outcomes and innovation. It products include network communications, data storage, desktops and servers. The firm offers licensing, licensing management and software solutions and services that help customers optimize their software investments.
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