Avianca Holdings SA (NYSE:AVH) Sees Significant Growth in Short Interest

Avianca Holdings SA (NYSE:AVH) saw a significant increase in short interest in the month of March. As of March 13th, there was short interest totalling 267,900 shares, an increase of 133.2% from the February 27th total of 114,900 shares. Based on an average daily volume of 188,400 shares, the short-interest ratio is presently 1.4 days. Currently, 0.6% of the company’s shares are short sold.

A number of hedge funds have recently added to or reduced their stakes in AVH. Oxford Asset Management LLP acquired a new position in Avianca in the fourth quarter valued at $86,000. Evolution Wealth Advisors LLC lifted its holdings in Avianca by 12,021.7% in the fourth quarter. Evolution Wealth Advisors LLC now owns 303,042 shares of the transportation company’s stock valued at $1,352,000 after buying an additional 300,542 shares during the period. Finally, ING Groep NV lifted its holdings in Avianca by 32.0% in the fourth quarter. ING Groep NV now owns 330,000 shares of the transportation company’s stock valued at $1,472,000 after buying an additional 80,000 shares during the period. Institutional investors and hedge funds own 3.89% of the company’s stock.

AVH stock traded up $0.03 during midday trading on Thursday, hitting $1.03. The stock had a trading volume of 2,028,107 shares, compared to its average volume of 316,010. The firm has a market cap of $85.08 million, a P/E ratio of -0.14 and a beta of 1.27. Avianca has a 1-year low of $0.62 and a 1-year high of $5.02. The business has a fifty day moving average price of $3.37 and a two-hundred day moving average price of $3.95.

A number of brokerages have recently commented on AVH. JPMorgan Chase & Co. lowered shares of Avianca from a “neutral” rating to an “underweight” rating in a report on Monday, March 16th. Deutsche Bank lowered shares of Avianca from a “buy” rating to a “hold” rating and cut their price target for the stock from $7.00 to $2.00 in a report on Monday, March 16th. Finally, Zacks Investment Research lowered shares of Avianca from a “buy” rating to a “hold” rating in a report on Monday, March 16th.

About Avianca

Avianca Holdings SA, through its subsidiaries, provides passenger and cargo air transportation services in North America, Central America, the Caribbean, Colombia, Europe, South America, and internationally. It also offers aircraft maintenance, crew training, and other airport services to other carriers, as well as travel and cargo related services to its customers.

Read More: Understanding Price to Earnings Ratio (PE)

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