As of Thursday close, Avid Technology Inc.’s (NASDAQ:AVID) stock was up $4.24, moving up 18.37 percent to $27.32. The average number of shares traded per day over the past five days has been 823,740 shares. 4 times new highs have been achieved over the past 5 days, with a $4.03 gain in that time frame. In the last twenty days, the average volume was 526,540, while in the previous 50 days, it was 610,264.
Since last month, AVID stock rose 5.56%. Shares of the company fell to $22.55 on 08/03/23, the lowest level in the past month. A 52-week high of $33.41 was reached on 04/11/23 after having rallying from a 52-week low of $19.78. Since the beginning of this year, AVID’s stock price has risen by 2.75% or $0.73, and marked a new high 15 times. However, the stock has declined by -18.23% since its 52-week high.
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AVID stock investors should be aware that Avid Technology Inc. (AVID) stock had its last reported insider trading activity 151 days ago on Mar 06. Gayron Kenneth L, the EVP, CFO & Corp Treasurer of the company, disposed of 1,500 shares for $30.49 on Mar 06. It resulted in a $45,735 divestment by the insider. CLAMAN TIMOTHY sold 4,462 shares at an average price of $27.30 on Dec 12. The insider now owns 89,240 shares following the transaction. On Nov 22, Chief Revenue Officer & SVP CORDINER TOM J. A. sold 29,978 shares at $27.90 apiece. The transaction was valued at $836,383.
Valuation Metrics
Right now, Avid Technology Inc. (AVID) has a P/E ratio of about 27.43. The stock’s beta is 1.19.
Financial Health
In the three months ended March 30, Avid Technology Inc.’s quick ratio stood at 0.70, while its current ratio was 0.90, showing that the company is not able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is 65.10% percent. In the year ended March 30, EBITDA margin amounted to 15.35%, whereas operating margins totaled 10.60%. Based on annual data, AVID earned $274.44 million in gross profit and brought in $417.41 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 99.50%. Return on equity (ROE) for the past 12 months was -34.40%.
In Avid Technology Inc.’s quarter-end financial report for March 30, it reported total debt of $170.69 million. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. AVID’s revenue fell -2.9% to $116.1 million during the quarter, while net income inched up to $97.81 million. While analysts expected Avid Technology Inc. to report $0.25 quarterly earnings, the actual figure was $0.15 per share. During the quarter, the company generated $5.79 million in EBITDA. The liabilities of Avid Technology Inc. were 392.65 million at the end of its most recent quarter ended March 30, and its total debt was $206.42 million. The value of shareholders’ equity is $43.91 million.
Technical Picture
This quick technical analysis looks at Avid Technology Inc.’s (AVID) price momentum. With a historical volatility rate of 93.96%, the RSI 9-day stood at 68.33% on 03 August.
With respect to its five-day moving average, the current Avid Technology Inc. price is up by +17.30% percent or $4.03. At present, AVID shares trade +4.35% above its 20-day simple moving average and -4.71% percent below its 100-day simple moving average. However, the stock is currently trading approximately +31.22% above its SMA50 and +12.15% above its SMA200.
Stochastic coefficient K was 38.44% and Stochastic coefficient D was 20.72%, while ATR was 1.33. Given the Stochastic reading of 93.53% for the 14-day period, the RSI (14) reading has been calculated as 63.00%. As of today, the MACD Oscillator reading stands at 0.60, while the 14-day reading stands at 0.05.
Analyst Ratings
Truist launched its rating on Avid Technology Inc. (NASDAQ: AVID) to a Buy in a note to investors on March 06, 2023. Avid Technology Inc. (AVID) has been rated Overweight by analysts. According to 0 brokerage firms, AVID is a sell, and 2 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Avid Technology Inc. stock as buy, with 4 recommending it as overweight.
With a median target price of $35.00, the current consensus forecast for the stock is $25.00 – $48.00. Based on these forecasts, analysts predict Avid Technology Inc. (AVID) will achieve an average price target of $35.38.
