The stock price of Avid Technology Inc. (NASDAQ: AVID) has jumped by 22.91 compared to previous close of 20.47. Despite this, the company has seen a gain of 23.03% in its stock price over the last five trading days.
Is It Worth Investing in Avid Technology Inc. (NASDAQ: AVID) Right Now?
Avid Technology Inc. (NASDAQ: AVID) has a price-to-earnings ratio of 25.26x that is above its average ratio. Additionally, the 36-month beta value for AVID is 1.25. There are mixed opinions on the stock, with 5 analysts rating it as a “buy,” 0 rating it as “overweight,” 2 rating it as “hold,” and 0 rating it as “sell.”
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The average price predicted by analysts for AVID is $36.14, which is $11.34 above the current price. The public float for AVID is 40.13M and currently, short sellers hold a 4.19% ratio of that float. The average trading volume of AVID on May 25, 2023 was 342.34K shares.
AVID’s Market Performance
AVID’s stock has seen a 23.03% increase for the week, with a -14.65% drop in the past month and a -15.60% fall in the past quarter. The volatility ratio for the week is 7.85%, and the volatility levels for the past 30 days are at 5.80% for Avid Technology Inc. The simple moving average for the past 20 days is 8.18% for AVID’s stock, with a -7.68% simple moving average for the past 200 days.
AVID Trading at -9.67% from the 50-Day Moving Average
After a stumble in the market that brought AVID to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -24.69% of loss for the given period.
Volatility was left at 5.80%, however, over the last 30 days, the volatility rate increased by 7.85%, as shares sank -12.37% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -12.94% lower at present.
During the last 5 trading sessions, AVID rose by +23.03%, which changed the moving average for the period of 200-days by -3.60% in comparison to the 20-day moving average, which settled at $23.08. In addition, Avid Technology Inc. saw -5.38% 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 AVID starting from Gayron Kenneth L, who sale 1,500 shares at the price of $30.49 back on Mar 06. After this action, Gayron Kenneth L now owns 311,865 shares of Avid Technology Inc., valued at $45,735 using the latest closing price.
CLAMAN TIMOTHY, the SVP & GM Video & Media of Avid Technology Inc., sale 4,462 shares at $27.30 during a trade that took place back on Dec 12, which means that CLAMAN TIMOTHY is holding 89,240 shares at $121,813 based on the most recent closing price.
Stock Fundamentals for AVID
Current profitability levels for the company are sitting at:
- +13.36 for the present operating margin
- +63.75 for the gross margin
The net margin for Avid Technology Inc. stands at +13.23. The total capital return value is set at 67.86, while invested capital returns managed to touch 81.78. Equity return is now at value -34.40, with 16.90 for asset returns.
When we switch over and look at the enterprise to sales, we see a ratio of 2.58, with the company’s debt to enterprise value settled at 0.15. The receivables turnover for the company is 4.07 and the total asset turnover is 1.49. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.94.
Conclusion
In conclusion, Avid Technology Inc. (AVID) has seen bad performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
