The 36-month beta value for AVDX is also noteworthy at 1.06. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
The public float for AVDX is 156.03M, and at present, short sellers hold a 4.88% of that float. The average trading volume of AVDX on April 12, 2024 was 1.80M shares.
AVDX) stock’s latest price update
The stock price of AvidXchange Holdings Inc (NASDAQ: AVDX) has jumped by 2.62 compared to previous close of 11.81. Despite this, the company has seen a fall of -0.74% in its stock price over the last five trading days. GlobeNewsWire reported 2024-04-09 that CHARLOTTE, N.C., April 09, 2024 (GLOBE NEWSWIRE) — AvidXchange Holdings, Inc. (Nasdaq: AVDX), a leading provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers, today announced that its first quarter 2024 ended March 31, 2024, financial results will be released on Wednesday, May 8, 2024. AvidXchange will host a conference call at 10:00 AM ET on May 8, 2024, to discuss the company’s financial results.
AVDX’s Market Performance
AVDX’s stock has fallen by -0.74% in the past week, with a monthly drop of -6.12% and a quarterly rise of 6.78%. The volatility ratio for the week is 2.51% while the volatility levels for the last 30 days are 3.06% for AvidXchange Holdings Inc The simple moving average for the last 20 days is -4.13% for AVDX’s stock, with a simple moving average of 11.61% for the last 200 days.
Analysts’ Opinion of AVDX
Many brokerage firms have already submitted their reports for AVDX stocks, with Keefe Bruyette repeating the rating for AVDX by listing it as a “Mkt Perform.” The predicted price for AVDX in the upcoming period, according to Keefe Bruyette is $13.50 based on the research report published on April 09, 2024 of the current year 2024.
Piper Sandler, on the other hand, stated in their research note that they expect to see AVDX reach a price target of $13, previously predicting the price at $12. The rating they have provided for AVDX stocks is “Neutral” according to the report published on January 02nd, 2024.
BTIG Research gave a rating of “Buy” to AVDX, setting the target price at $14 in the report published on December 06th of the previous year.
AVDX Trading at -1.98% from the 50-Day Moving Average
After a stumble in the market that brought AVDX to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -10.62% of loss for the given period.
Volatility was left at 3.06%, however, over the last 30 days, the volatility rate increased by 2.51%, as shares sank -6.98% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +7.64% upper at present.
During the last 5 trading sessions, AVDX fell by -0.74%, which changed the moving average for the period of 200-days by +20.36% in comparison to the 20-day moving average, which settled at $12.60. In addition, AvidXchange Holdings Inc saw -2.18% 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 AVDX starting from Drees Daniel, who sale 17,604 shares at the price of $13.02 back on Mar 20 ’24. After this action, Drees Daniel now owns 750,744 shares of AvidXchange Holdings Inc, valued at $229,142 using the latest closing price.
Stahl Ryan, the of AvidXchange Holdings Inc, sale 4,217 shares at $12.43 during a trade that took place back on Mar 18 ’24, which means that Stahl Ryan is holding 384,588 shares at $52,417 based on the most recent closing price.
Stock Fundamentals for AVDX
Current profitability levels for the company are sitting at:
- -0.14 for the present operating margin
- 0.66 for the gross margin
The net margin for AvidXchange Holdings Inc stands at -0.12. The total capital return value is set at -0.06. Equity return is now at value -7.20, with -2.02 for asset returns.
Based on AvidXchange Holdings Inc (AVDX), the company’s capital structure generated 0.11 points at debt to capital in total, while cash flow to debt ratio is standing at 0.12. The debt to equity ratio resting at 0.12. The interest coverage ratio of the stock is -3.86.
Currently, EBITDA for the company is -10.76 million with net debt to EBITDA at 178.96. When we switch over and look at the enterprise to sales, we see a ratio of 5.81. The receivables turnover for the company is 6.75for trailing twelve months and the total asset turnover is 0.15. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.25.
Conclusion
In summary, AvidXchange Holdings Inc (AVDX) has had a mixed performance as of late. Analysts have mixed opinions on the stock, with some viewing 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.
