Avid Bioservices Inc (NASDAQ: CDMO) has experienced a rise in its stock price by 2.25 compared to its previous closing price of 6.68. However, the company has seen a gain of 1.79% 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.
Is It Worth Investing in Avid Bioservices Inc (NASDAQ: CDMO) Right Now?
Moreover, the 36-month beta value for CDMO is 1.61. Analysts have varying opinions on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for CDMO is 62.54M and currently, short sellers hold a 16.17% of that float. On April 25, 2024, CDMO’s average trading volume was 1.32M shares.
CDMO’s Market Performance
CDMO stock saw a decrease of 1.79% in the past week, with a monthly decline of 0.00% and a quarterly a decrease of 3.48%. The volatility ratio for the week is 5.36%, and the volatility levels for the last 30 days are 6.84% for Avid Bioservices Inc (CDMO). The simple moving average for the past 20 days is 2.19% for CDMO’s stock, with a -16.78% simple moving average for the past 200 days.
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 -2.88% 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 -65.80% of loss for the given period.
Volatility was left at 6.84%, however, over the last 30 days, the volatility rate increased by 5.36%, as shares surge +0.59% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -7.58% lower at present.
During the last 5 trading sessions, CDMO rose by +1.79%, which changed the moving average for the period of 200-days by -51.35% in comparison to the 20-day moving average, which settled at $6.69. In addition, Avid Bioservices Inc saw 5.08% 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 4.23. 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 wrap up, the performance of Avid Bioservices Inc (CDMO) has been better in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. 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.
