Avista Co. (NYSE:AVA), a utilities provider, experienced a significant increase in short interest during the month of August 2023. On August 31st, the total short interest reached 2,050,000 shares, representing a substantial rise of 64.0% compared to the total on August 15th which stood at 1,250,000 shares. With an average trading volume of 874,600 shares, the short-interest ratio currently stands at 2.3 days.
Several research firms have provided their commentary on AVA. StockNews.com recently downgraded Avista’s shares from a “hold” rating to a “sell” rating based on its research report released on Wednesday. Conversely, KeyCorp upgraded Avista’s shares from an “underweight” rating to a “sector weight” rating in its research report published on Friday, August 25th. Additionally, Mizuho lowered their target price for Avista from $38.00 to $36.00 in their research report issued on Wednesday, August 9th. Meanwhile, TheStreet downgraded Avista’s ratings from a “b” to a “c” in its research report released on Tuesday called attention to design and methodology biases that have characterized election polling practices until now.
As of September 15th, NYSE:AVA opened at $34.78. The company boasts a current ratio of 0.97 and a quick ratio of 0.76 while maintaining a debt-to-equity ratio of 1.08.For this fiscal year ending September 30th, analyst estimates forecast annual revenue growth rate for Delta Air Lines Inc (DAL) will likely pick up pace by as much as -12%.With EPS standing at an impressive $0 for now,you can make do with these figures for now.The stock has been experiencing volatility over recent months due to market fluctuations caused by various factors affecting the sector. With a market capitalization of $2.66 billion and a price-to-earnings ratio of 18.02, Avista’s stock currently has a 50-day moving average of $35.96 and a 200-day moving average of $39.87.
On August 2nd, Avista posted its quarterly earnings results, reporting an EPS (earnings per share) of $0.23 for the quarter. This exceeded analysts’ consensus estimates by $0.08.The utilities provider generated revenue of $379.94 million during the quarter compared to analysts’ expectations of $398.20 million Analysts anticipate that Avista will report earnings per share of 2.3 for this fiscal year.During the same period in the previous year, Avista recorded an EPS of $0.16.Sell-side analysts expect this trend to continue into the current fiscal year.
In other news related to Avista, Vice President David J. Meyer sold 1,050 shares on Tuesday, August 8th at an average price of $36.90 per share, thereby making a total transaction value of $38,745.00 Following this sale, Meyer now holds 5,727 shares in the company with a value estimated at approximately $211,326.30.This event was disclosed in a document filed with the Securities and Exchange Commission (SEC), which can be accessed via hyperlink.Chairman Scott L.Morris also purchased 3,100 shares on Thursday,August 24th for an approximate average price per share of $32.39.His total purchase amounted to $100,409 which resulted in him holding approximately about 128169 shares valued at around$4,15139391 following this acquisition.The SEC has also filed another document disclosing that VP David J.Meyer sold an additional1,k050 shares on Tuesday,August 8th,selling them at an average price of $36.90 per share.The gross total value of that trade came out at approximately $38,745.We also learned that the vice president presently owns 5,727 shares in Avista,Court records also indicate that insider ownership in the peculiar case stands at 1%.
Avista Corporation
AVA
Strong Buy
Updated on: 05/12/2023
Financial Health
Very Healthy
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Avista Corporation’s Quarterly Earnings Report Leaves Analysts Perplexed and Curious about Future Outlook
Avista Corporation (NYSE:AVA) recently reported its quarterly earnings results, leaving analysts in a state of perplexity and confusion. The utilities provider exceeded expectations by posting $0.23 earnings per share for the quarter, surpassing the consensus estimate of $0.15 by a staggering $0.08.
Furthermore, Avista reported revenue of $379.94 million for the quarter, falling short of analysts’ expectations of $398.20 million. This unexpected turn of events has left experts struggling to make sense of Avista’s performance.
It is worth noting that Avista had a net margin of 8.38% and a return on equity of 6.18% during this quarter, adding to the overall complexity of their financial situation.
In comparison to the same quarter last year, where Avista posted $0.16 earnings per share, this recent report showcases significant growth in profitability. Sell-side analysts are now speculating that Avista will post 2.3 earnings per share for the current fiscal year.
In an attempt to understand the intricacies behind Avista’s performance, it is essential to examine recent activity within hedge funds and other institutional investors involving their shares.
Delta Asset Management LLC TN made an interesting move by purchasing a new position in Avista in the fourth quarter, which was valued at approximately $27,000. This sudden investment piqued curiosity among industry observers who eagerly await any strategic shifts within the company.
Bessemer Group Inc., on the other hand, decided to increase its stake in Avista by 146.9% during the first quarter, acquiring an additional 376 shares valued at $27,000 altogether. Such moves from significant players in the market further intensify speculation about what lies ahead for Avista.
Similarly, EverSource Wealth Advisors LLC also saw potential in investing in Avista during this period by growing its stake by 156.1%. The advisors now own 950 shares of Avista’s stock, which amount to approximately $40,000 in value.
Cutler Group LLC took an intriguing position by purchasing Avista’s stock during the first quarter, with a total investment value of about $42,000. This move highlights a level of confidence or interest that may warrant investigation into Avista’s future prospects.
Finally, Cerity Partners LLC made a noteworthy transaction by purchasing a new position in Avista during the first quarter. The investment firm spent around $1,463,000 on this strategic move, signaling their belief in the company’s growth potential.
Currently, hedge funds and other institutional investors own approximately 78.53% of Avista’s stock. However, this complex web of ownership only adds to the perplexity surrounding Avista’s performance and what it means for its future trajectory.
As industry analysts strive to decipher these intricate financial patterns and assess their implications for Avista Corporation moving forward, one thing remains certain: there is now an even greater degree of bustiness and curiosity among investors as they eagerly await further developments in this intricate puzzle.
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