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We Analyzed the Future Direction of Avid Bioservices Inc. (CDMO), Here is What We Found

Avid Bioservices Inc. (NASDAQ:CDMO) went down by -10.81% from its latest closing price compared to the recent 1-year high of $34.51. The company’s stock price has collected -6.82% of loss in the last five trading sessions. The Wall Street Journal reported on 12/07/21 that Tesla, Intel, Bitcoin: What to Watch in the Stock Market Today

Is It Worth Investing in Avid Bioservices Inc. (NASDAQ :CDMO) Right Now?

Avid Bioservices Inc. (NASDAQ:CDMO) scored a price-to-earnings ratio above its average ratio, recording 12.30 x from its present earnings ratio. Plus, the 36-month beta value for CDMO is at 2.14. Opinions of the stock are interesting as 3 analysts out of 4 who provided ratings for Avid Bioservices Inc. declared the stock was a “buy,” while 0 rated the stock as “overweight,” 1 rated it as “hold,” and 0 as “sell.”

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The average price from analysts is $26.67, which is $9.59 above the current price. CDMO currently public float of 61.26M and currently shorts hold a 8.00% ratio of that float. Today, the average trading volume of CDMO was 570.09K shares.

CDMO’s Market Performance

CDMO stocks went down by -6.82% for the week, with a monthly drop of -9.68% and a quarterly performance of 36.42%, while its annual performance rate touched -15.19%. The volatility ratio for the week stands at 6.35% while the volatility levels for the past 30 days are set at 5.70% for Avid Bioservices Inc. The simple moving average for the period of the last 20 days is -4.38% for CDMO stocks with a simple moving average of -9.97% for the last 200 days.

Analysts’ Opinion of CDMO

RBC Capital Mkts, on the other hand, stated in their research note that they expect to see CDMO reach a price target of $21. The rating they have provided for CDMO stocks is “Outperform” according to the report published on March 17th, 2021.

KeyBanc Capital Markets gave a rating of “Overweight” to CDMO, setting the target price at $12 in the report published on November 10th of the previous year.

CDMO Trading at -6.97% from the 50-Day Moving Average

After a stumble in the market that brought CDMO to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -50.51% of loss for the given period.

Volatility was left at 5.70%, however, over the last 30 days, the volatility rate increased by 6.35%, as shares sank -10.29% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -5.11% lower at present.

During the last 5 trading sessions, CDMO fell by -6.82%, which changed the moving average for the period of 200-days by -44.11% in comparison to the 20-day moving average, which settled at $17.76. In addition, Avid Bioservices Inc. saw -41.47% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at CDMO starting from Hancock Richard B, who sale 3,321 shares at the price of $17.12 back on Sep 01. After this action, Hancock Richard B now owns 36,881 shares of Avid Bioservices Inc., valued at $56,844 using the latest closing price.

Hancock Richard B, the Director of Avid Bioservices Inc., sale 5,000 shares at $19.40 during a trade that took place back on Aug 01, which means that Hancock Richard B is holding 37,215 shares at $96,979 based on the most recent closing price.

Stock Fundamentals for CDMO

Current profitability levels for the company are sitting at:

  • +12.89 for the present operating margin
  • +30.64 for the gross margin

The net margin for Avid Bioservices Inc. stands at +106.75. Equity return is now at value 106.60, with 32.90 for asset returns.

The liquidity ratio also appears to be rather interesting for investors as it stands at 2.38.

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