Loop Capital slashes price target on American Virtual Cloud Technologies Inc. [AVCT] – find out why.

American Virtual Cloud Technologies Inc. [NASDAQ: AVCT] traded at a high on 09/09/22, posting a 31.09 gain after which it closed the day’ session at $0.22. The company report on August 25, 2022 that AVCT Announces Board and Management Changes Along With Review of Strategic Alternatives.

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American Virtual Cloud Technologies, Inc. (Nasdaq: AVCT) today announces changes to its board of directors and management team, along with the launch of a review to explore the sale of the entire business or selected assets. As part of this shift, the Company announced that Kevin Keough has been named as Chief Executive Officer. Tom King will shift from the role of Chief Financial Officer to Chief of Staff, on an interim basis, reporting to Mr. Keough. Effective September 1, 2022, Adrian Foltz and Onex Evans have been promoted to the roles of Chief Financial Officer and Chief Accounting Officer, respectively, both reporting to Mr. Keough. Michael Tessler has stepped down from the board of directors and Larry Mock has been appointed to his previous role as chairman of the board. Former CEO Darrell Mays will continue to serve the Company as Executive Vice Chairman of the Board.

In conjunction with these changes, the Company also announced that it had retained Northland Capital Markets to advise the Company in connection with a comprehensive strategic review process that could lead to the sale of the Company or selected assets. Northland Capital Markets is the trade name for certain capital markets and investment banking services of Northland Securities, Inc., Member FINRA/SIPC.

The results of the trading session contributed to over 146957285 shares changing hands. Over the past one week, the price volatility of American Virtual Cloud Technologies Inc. stands at 25.57% while the volatility over the past one month is 34.65%.

The market cap for AVCT stock reached $21.17 million, with 94.50 million shares outstanding and 79.08 million shares in the current float. Compared to the average trading volume of 32.97M shares, AVCT reached a trading volume of 146957285 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about American Virtual Cloud Technologies Inc. [AVCT]?

Loop Capital have made an estimate for American Virtual Cloud Technologies Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 14, 2021.

The Average True Range (ATR) for American Virtual Cloud Technologies Inc. is set at 0.07, with the Price to Sales ratio for AVCT stock in the period of the last 12 months amounting to 1.09.

How has AVCT stock performed recently?

American Virtual Cloud Technologies Inc. [AVCT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.14. With this latest performance, AVCT shares gained by 22.74% in over the last four-week period, additionally sinking by -71.64% over the last 6 months – not to mention a drop of -93.98% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AVCT stock in for the last two-week period is set at 50.00, with the RSI for the last a single of trading hit 50.14, and the three-weeks RSI is set at 49.16 for American Virtual Cloud Technologies Inc. [AVCT]. The present Moving Average for the last 50 days of trading for this stock 0.2241, while it was recorded at 0.2012 for the last single week of trading, and 0.8275 for the last 200 days.

American Virtual Cloud Technologies Inc. [AVCT]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and American Virtual Cloud Technologies Inc. [AVCT] shares currently have an operating margin of -251.65 and a Gross Margin at +19.29. American Virtual Cloud Technologies Inc.’s Net Margin is presently recorded at -652.67.

Return on Equity for this stock declined to -490.33, with Return on Assets sitting at -96.58.

American Virtual Cloud Technologies Inc.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 1.20.

Insider trade positions for American Virtual Cloud Technologies Inc. [AVCT]

There are presently around $2 million, or 21.30% of AVCT stock, in the hands of institutional investors. The top three institutional holders of AVCT stocks are: CRESSET ASSET MANAGEMENT, LLC with ownership of 2,001,054, which is approximately 0% of the company’s market cap and around 1.00% of the total institutional ownership; VANGUARD GROUP INC, holding 1,560,299 shares of the stock with an approximate value of $0.34 million in AVCT stocks shares; and BLACKROCK INC., currently with $0.15 million in AVCT stock with ownership of nearly -11.621% of the company’s market capitalization.

Positions in American Virtual Cloud Technologies Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 13 institutional holders increased their position in American Virtual Cloud Technologies Inc. [NASDAQ:AVCT] by around 626,877 shares. Additionally, 19 investors decreased positions by around 1,039,831 shares, while 7 investors held positions by with 5,828,458 shares. The mentioned changes placed institutional holdings at 7,495,166 shares, according to the latest SEC report filing. AVCT stock had 9 new institutional investments in for a total of 481,976 shares, while 12 institutional investors sold positions of 507,581 shares during the same period.


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