Avadel Pharmaceuticals plc (NASDAQ:AVDL) finished Wednesday with a subtraction of -$0.66 to close at $12.85, a downside of -4.89 percent. An average of 809,540 shares of common stock have been traded in the last five days. There was a fall of -$1.06 in the past week, and it reached a new high 19 times over the past 12 months. The last 20 days have seen an average of 767,215 shares traded, while the 50-day average volume stands at 860,226.
AVDL stock has decreased by -17.10% in the last month. The company shares reached their 1-month lowest point of $11.95 on 08/09/23. With the stock rallying to its 52-week high on 07/17/23, shares of the company touched a low of $4.61 and a high of $16.85 in 52 weeks. It has reached a new high 28 times so far this year and achieved 79.47% or $5.69 in price. In spite of this, the price is down -23.74% from the 52-week high.
Financial Health
The quick ratio of Avadel Pharmaceuticals plc for the three months ended March 30 was 1.40, and the current ratio was 1.40, indicating that the company is able to meet its debt obligations.
Earnings Surprise
For the three-month period that ended March 30, Avadel Pharmaceuticals plc had $17.53 million in cash and short-term investments compared to $93.14 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$30.78 million in the quarter, while revenues of -$27.45 million were grew 14.17%. The analyst consensus anticipated Avadel Pharmaceuticals plc’s latest quarter earnings to come in at -$0.38 per share, but it turned out to be -$0.48, a -26.30% surprise. For the quarter, EBITDA amounted to -$27.71 million. Shareholders own equity worth $76.77 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Avadel Pharmaceuticals plc (AVDL) price momentum. RSI 9-day as of the close on 09 August was 27.99%, suggesting the stock is oversold, with historical volatility in this time frame at 29.50%.
As of today, AVDL’s price is $13.40 -7.62% or -$1.06 from its 5-day moving average. AVDL is currently trading -17.20% lower than its 20-day SMA and +41.36% higher than its 100-day SMA. However, the stock’s current price level is -7.15% below the SMA50 and +131.12% above the SMA200.
The stochastic %K and %D were 25.52% and 19.69%, respectively, and the average true range (ATR) was 0.74. With the 14-day stochastic at 35.29% and the average true range at 0.76, the RSI (14) stands at 35.23%. The stock has reached -0.41 on the 9-day MACD Oscillator while the 14-day reading was at -0.44.
Analyst Ratings
Jefferies upgraded Avadel Pharmaceuticals plc (NASDAQ: AVDL) to a a Buy rating in its most recent analyst report. Previously, the stock was rated as a Hold. The consensus rating for Avadel Pharmaceuticals plc (AVDL) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell AVDL, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 9 others rate it as a “buy”.
