Avid Bioservices Inc (NASDAQ:CDMO) saw an upside of 2.00% to $10.21 after adding $0.2 on Wednesday. The 5-day average trading volume is 654,973 shares of the company’s common stock. It has gained $10.41 in the past week and touched a new high 5 times within the past 5 days. An average of 714,878 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 573,509.
CDMO’s 1-month performance is -14.20% or -$1.78 on its low of $9.18 reached on 09/22/23. The company’s shares have touched a 52-week low of $9.18 and high of $21.05, with the stock’s rally to the 52-week high happening on 04/13/23. YTD, CDMO has lost -25.85% or -$3.51 and has reached a new high 17 times. However, the current price is down -51.50% from the 52-week high price.
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Insider Transactions
CDMO stock investors last saw insider trading activity on Sep 21.Green Nicholas Stewart (President & CEO) most recently sold 19,519 shares at $12.99 per share on Jul 31. This transaction cost the insider $253,552. Chief Operations Officer, Richieri Richard A., sold 2,734 shares at a price of $13.40 on Jul 13. Then, on Jul 12, Chief Commercial Officer Kwietniak Matthew R. sold 252 shares at a price of $13.61 per share. This transaction amounted to $3,430.
Valuation Metrics
CDMO stock has a beta of 1.70. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 4.29 while the price-to-book (PB) in the most recent quarter is 3.38.
Avid Bioservices Inc’s quick ratio for the period ended July 30 was 0.90, with the current ratio over the same period at 1.53. As well, the company’s long term debt to equity for the quarter ending July 30 was 0.98, while the total debt to equity was 0.99. In terms of profitability, the gross margin trailing 12 months is 17.61%. The trailing 12-month EBITDA margin is 7.31% while for the period ending July 30, Avid Bioservices Inc’s operating margin was -0.80%. The firm’s gross profit as reported stood at $31.48 million against revenue of $149.27 million.
Earnings Surprise
For the quarterly period ending July 30 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 174.64% to -$2.09 million, while revenue of -$0.31 million was 85.17% off the previous quarter. Analysts expected CDMO to announce -$0.03 per share in earnings in its latest quarter, but it posted -$0.03, representing a 0.00% surprise. EBITDA for the quarter stood at more than $0.82 million. CDMO stock balance sheet for the quarter ending July 30 shows that total liabilities totaled 251.74 million, with total debt at $189.48 million. Shareholders hold equity totaling $63.11 million.
Let’s look briefly at Avid Bioservices Inc (CDMO) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 26 September was 46.41% to suggest the stock is trending Neutral, with historical volatility in this time period at 40.12%.
The stock’s 5-day moving average is $9.81, reflecting a +9.15% or $0.86 change from its current price. CDMO is currently trading -14.14% above its 20-day SMA, -44.45% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -23.72% and SMA200 by-18.64%.
Stochastic %K and %D was 29.98% and 20.23% and the average true range (ATR) pointed at 0.48. The RSI (14) points at 40.82%, while the 14-day stochastic is at 46.35% with the period’s ATR at 0.49. The stock’s 9-day MACD Oscillator is pointing at 0.15 and -0.12 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Avid Bioservices Inc (NASDAQ: CDMO), KeyBanc Capital Markets upgraded it to an Overweight rating. They previously had a Sector weight rating on the stock.
