As of Thursday close, AvidXchange Holdings Inc.’s (NASDAQ:AVDX) stock was down -$0.12, moving down -1.29 percent to $9.16. The average number of shares traded per day over the past five days has been 2,076,180 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.52 fall in that time frame. In the last twenty days, the average volume was 1,623,565, while in the previous 50 days, it was 2,234,560.
Since last month, AVDX stock retreated -6.72%. Shares of the company fell to $8.91 on 09/21/23, the lowest level in the past month. A 52-week high of $12.75 was reached on 08/02/23 after having rallying from a 52-week low of $7.02. Since the beginning of this year, AVDX’s stock price has dropped by -7.85% or -$0.78, and marked a new high 14 times. However, the stock has declined by -28.16% since its 52-week high.
AVDX stock investors should be aware that AvidXchange Holdings Inc. (AVDX) stock had its last reported insider trading activity 36 days ago on Aug 17. Praeger Michael, the Chief Executive Officer of the company, disposed of 59,562 shares for $10.04 on Aug 17. It resulted in a $598,193 divestment by the insider. Praeger Michael sold 25,789 shares at an average price of $10.09 on Aug 15. The insider now owns 9,977,150 shares following the transaction. On Aug 15, Wilhite Joel sold 12,880 shares at $10.09 apiece. The transaction was valued at $129,959.
Valuation Metrics
The stock’s beta is 0.64. Besides these, the trailing price-to-sales (P/S) ratio of 5.29, the price-to-book (PB) ratio of 2.86.
Financial Health
In the three months ended June 29, AvidXchange Holdings Inc.’s quick ratio stood at 1.30, while its current ratio was 1.30, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.21, and the total debt-to-equity ratio was 0.22. On the profitability front, the trailing twelve-month gross margin is 65.20% percent. In the year ended June 29, EBITDA margin amounted to -17.24%, whereas operating margins totaled -24.10%. Based on annual data, AVDX earned $198.49 million in gross profit and brought in $316.35 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 -10.90%. Return on equity (ROE) for the past 12 months was -13.00%.
In AvidXchange Holdings Inc.’s quarter-end financial report for June 29, it reported total debt of $75.24 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. AVDX’s revenue rose 16.01% to $86.82 million during the quarter, while net income inched up to $91.15 million. While analysts expected AvidXchange Holdings Inc. to report -$0.04 quarterly earnings, the actual figure was $0 per share. During the quarter, the company generated -$12.98 million in EBITDA. The liabilities of AvidXchange Holdings Inc. were 1.44 billion at the end of its most recent quarter ended June 29, and its total debt was $149.89 million. The value of shareholders’ equity is $202.15 million.
Technical Picture
This quick technical analysis looks at AvidXchange Holdings Inc.’s (AVDX) price momentum. With a historical volatility rate of 13.65%, the RSI 9-day stood at 21.28% on 21 September.
With respect to its five-day moving average, the current AvidXchange Holdings Inc. price is down by -5.37% percent or -$0.52. At present, AVDX shares trade -8.49% below its 20-day simple moving average and +23.28% percent above its 100-day simple moving average. However, the stock is currently trading approximately -15.26% below its SMA50 and +3.50% above its SMA200.
Stochastic coefficient K was 5.12% and Stochastic coefficient D was 6.21%, while ATR was 0.33. Given the Stochastic reading of 12.76% for the 14-day period, the RSI (14) reading has been calculated as 28.33%. As of today, the MACD Oscillator reading stands at -0.35, while the 14-day reading stands at -0.59.
Analyst Ratings
Susquehanna launched its rating on AvidXchange Holdings Inc. (NASDAQ: AVDX) to a Positive in a note to investors on July 18, 2023. AvidXchange Holdings Inc. (AVDX) has been rated Overweight by analysts. According to 0 brokerage firms, AVDX is a sell, and 2 firms recommend it is a Hold. There are 1 analyst who say the stock is underweight. A total of 2 analysts rate AvidXchange Holdings Inc. stock as buy, with 6 recommending it as overweight.
With a median target price of $14.00, the current consensus forecast for the stock is $11.00 – $15.00. Based on these forecasts, analysts predict AvidXchange Holdings Inc. (AVDX) will achieve an average price target of $13.64.
