American Virtual Cloud Technologies Inc. [NASDAQ: AVCT] stock went on a downward path that fall over -24.65% on Wednesday, amounting to a one-week price decrease of less than -17.05%. The company report on October 18, 2022 that AVCT Announces $10 Million Registered Direct Offering and Concurrent Private Placement Priced At-the-Market Under Nasdaq Rules.
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The aggregate gross proceeds from the Offering and the concurrent Private Placement are expected to be approximately $10 million before deducting placement agent fees and other estimated offering expenses. The Company intends to use the net proceeds from the Offering and the concurrent Private Placement for working capital and other general corporate purposes. The closing of the Offering and the concurrent Private Placements is expected to occur on or about October 20, 2022, subject to the satisfaction of customary closing conditions.
Over the last 12 months, AVCT stock dropped by -96.79%.
The market cap for the stock reached $35.56 million, with 32.47 million shares outstanding and 30.22 million shares in the current float. Compared to the average trading volume of 3.58M shares, AVCT stock reached a trading volume of 27322479 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 0.17, with the Price to Sales ratio for AVCT stock in the period of the last 12 months amounting to 1.78. The Price to Book ratio for the last quarter was 0.69, with the Price to Cash per share for the same quarter was set at 0.32.
AVCT Stock Performance Analysis:
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 -17.05. With this latest performance, AVCT shares dropped by -2.73% in over the last four-week period, additionally sinking by -74.97% over the last 6 months – not to mention a drop of -96.79% 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 46.23, with the RSI for the last a single of trading hit 43.11, and the three-weeks RSI is set at 46.26 for American Virtual Cloud Technologies Inc. [AVCT]. The present Moving Average for the last 50 days of trading for this stock 1.0559, while it was recorded at 1.3240 for the last single week of trading, and 4.2998 for the last 200 days.
Insight into American Virtual Cloud Technologies Inc. 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 2.30.
American Virtual Cloud Technologies Inc. [AVCT] Insider Position Details
There are presently around $3 million, or 11.70% of AVCT stock, in the hands of institutional investors. The top three institutional holders of AVCT stocks are: HUDSON BAY CAPITAL MANAGEMENT LP with ownership of 1,913,404, which is approximately 16933.775% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 230,986 shares of the stock with an approximate value of $0.25 million in AVCT stocks shares; and NICHOLAS HOFFMAN & COMPANY, LLC., currently with $0.11 million in AVCT stock with ownership of nearly New of the company’s market capitalization.
Positions in American Virtual Cloud Technologies Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 21 institutional holders increased their position in American Virtual Cloud Technologies Inc. [NASDAQ:AVCT] by around 2,382,965 shares. Additionally, 11 investors decreased positions by around 208,883 shares, while 6 investors held positions by with 89,496 shares. The mentioned changes placed institutional holdings at 2,681,344 shares, according to the latest SEC report filing. AVCT stock had 12 new institutional investments in for a total of 139,001 shares, while 8 institutional investors sold positions of 200,301 shares during the same period.