Make Informed Decisions with Avid Bioservices Inc (CDMO) Stock Updates

The stock of Avid Bioservices Inc (CDMO) has gone down by -2.95% for the week, with a -17.52% drop in the past month and a 3.62% rise in the past quarter. The volatility ratio for the week is 7.07%, and the volatility levels for the past 30 days are 7.00% for CDMO. The simple moving average for the past 20 days is -2.97% for CDMO’s stock, with a -24.93% simple moving average for the past 200 days.

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

The stock has a 36-month beta value of 1.62. Opinions on the stock are mixed, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”

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The public float for CDMO is 62.58M, and at present, short sellers hold a 17.33% of that float. On April 04, 2024, the average trading volume of CDMO was 1.36M shares.

CDMO) stock’s latest price update

The stock price of Avid Bioservices Inc (NASDAQ: CDMO) has jumped by 3.29 compared to previous close of 6.38. Despite this, the company has seen a fall of -2.95% in its stock price over the last five trading days. InvestorPlace reported 2024-03-07 that Avid Bioservices (NASDAQ: CDMO ) stock is falling on Thursday after the contract development and manufacturing company announced the pricing of a private placement. The private placement includes 7.00% Convertible Senior Notes due 2029 with an aggregate principal amount of $160 million.

Analysts’ Opinion of CDMO

KeyBanc Capital Markets, on the other hand, stated in their research note that they expect to see CDMO reach a price target of $20. The rating they have provided for CDMO stocks is “Overweight” according to the report published on March 14th, 2023.

CDMO Trading at -6.11% 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 -68.69% of loss for the given period.

Volatility was left at 7.00%, however, over the last 30 days, the volatility rate increased by 7.07%, as shares sank -20.60% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading unchanged at present.

During the last 5 trading sessions, CDMO fell by -2.95%, which changed the moving average for the period of 200-days by -61.19% in comparison to the 20-day moving average, which settled at $6.71. In addition, Avid Bioservices Inc saw 1.38% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at CDMO starting from Kwietniak Matthew R., who sale 274 shares at the price of $6.77 back on Jan 12 ’24. After this action, Kwietniak Matthew R. now owns 19,829 shares of Avid Bioservices Inc, valued at $1,855 using the latest closing price.

Hart Daniel R, the Chief Financial Officer of Avid Bioservices Inc, sale 2,408 shares at $6.17 during a trade that took place back on Jan 10 ’24, which means that Hart Daniel R is holding 79,305 shares at $14,857 based on the most recent closing price.

Stock Fundamentals for CDMO

Current profitability levels for the company are sitting at:

  • -0.08 for the present operating margin
  • 0.13 for the gross margin

The net margin for Avid Bioservices Inc stands at -0.08. The total capital return value is set at -0.03. Equity return is now at value -6.28, with -2.55 for asset returns.

Based on Avid Bioservices Inc (CDMO), the company’s capital structure generated 0.52 points at debt to capital in total, while cash flow to debt ratio is standing at 0.01. The debt to equity ratio resting at 1.06. The interest coverage ratio of the stock is -8.05.

Currently, EBITDA for the company is 4.6 million with net debt to EBITDA at -39.14. When we switch over and look at the enterprise to sales, we see a ratio of 4.12. The receivables turnover for the company is 5.82for trailing twelve months and the total asset turnover is 0.31. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.35.

Conclusion

To sum up, Avid Bioservices Inc (CDMO) has seen a mixed performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others 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.

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