Avista Corporation (NYSE:AVA) Sees Large Decline in Short Interest

Avista Corporation (NYSE:AVA) was the target of a significant decline in short interest during the month of December. As of December 31st, there was short interest totaling 2,897,441 shares, a decline of 22.0% from the December 15th total of 3,714,358 shares. Based on an average daily trading volume, of 858,066 shares, the days-to-cover ratio is presently 3.4 days. Currently, 3.6% of the shares of the stock are sold short. Currently, 3.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 858,066 shares, the days-to-cover ratio is presently 3.4 days.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AVA. Wells Fargo & Company raised Avista to a “hold” rating in a research note on Tuesday, October 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Avista in a research report on Monday, December 29th. Jefferies Financial Group raised their price objective on Avista from $40.00 to $41.00 and gave the company a “hold” rating in a report on Wednesday, October 22nd. Finally, Mizuho set a $42.00 price objective on shares of Avista in a research report on Thursday, November 6th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $40.33.

Insider Buying and Selling at Avista

In other news, SVP Wayne O. Manuel sold 1,785 shares of Avista stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $38.74, for a total value of $69,150.90. Following the completion of the sale, the senior vice president directly owned 9,883 shares of the company’s stock, valued at approximately $382,867.42. This trade represents a 15.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.96% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Avista

Institutional investors and hedge funds have recently made changes to their positions in the business. First Pacific Financial bought a new stake in shares of Avista in the 4th quarter worth $798,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Avista in the 4th quarter worth about $1,086,000. Allspring Global Investments Holdings LLC increased its stake in Avista by 9.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 19,399 shares of the utilities provider’s stock valued at $751,000 after buying an additional 1,723 shares during the last quarter. A. D. Beadell Investment Counsel Inc. lifted its position in shares of Avista by 1.8% during the 4th quarter. A. D. Beadell Investment Counsel Inc. now owns 44,390 shares of the utilities provider’s stock worth $1,710,000 after buying an additional 785 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its stake in shares of Avista by 6.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 58,182 shares of the utilities provider’s stock worth $2,242,000 after buying an additional 3,376 shares during the last quarter. Institutional investors and hedge funds own 85.24% of the company’s stock.

Avista Trading Up 0.2%

NYSE:AVA traded up $0.09 during trading hours on Friday, hitting $40.18. 746,240 shares of the company were exchanged, compared to its average volume of 603,003. The company has a fifty day simple moving average of $39.55 and a 200 day simple moving average of $38.21. Avista has a one year low of $35.47 and a one year high of $43.09. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 17.10, a price-to-earnings-growth ratio of 2.06 and a beta of 0.30. The company has a current ratio of 0.91, a quick ratio of 0.60 and a debt-to-equity ratio of 1.06.

Avista (NYSE:AVA) last issued its quarterly earnings results on Wednesday, November 5th. The utilities provider reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.09. Avista had a net margin of 9.62% and a return on equity of 7.18%. The firm’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.23 EPS. Avista has set its FY 2025 guidance at 2.520-2.720 EPS. Sell-side analysts expect that Avista will post 2.3 EPS for the current fiscal year.

Avista Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, November 24th were paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date was Monday, November 24th. Avista’s payout ratio is 83.40%.

Avista Company Profile

Avista Corporation operates as an integrated energy company providing electric and natural gas delivery services to residential, commercial and industrial customers in the Pacific Northwest. Through its regulated utility operations, the company maintains and upgrades an extensive transmission and distribution network, delivering reliable energy to approximately 400,000 electric customers and 324,000 natural gas customers across Washington, Oregon and Idaho. In addition to its core utility business, Avista invests in owned generation assets, including hydroelectric, natural gas–fired, coal and wind facilities, to support system reliability and long-term supply planning.

Founded in 1889 as the Spokane and Inland Empire Water Power Company, the business adopted the Avista name in 1999 to reflect its growing energy portfolio and strategic focus on innovation.