The stock of Avid Bioservices Inc (CDMO) has gone up by 12.30% for the week, with a 20.22% rise in the past month and a 13.29% rise in the past quarter. The volatility ratio for the week is 7.72%, and the volatility levels for the past 30 days are 7.09% for CDMO. The simple moving average for the past 20 days is 11.90% for CDMO’s stock, with a -4.77% simple moving average for the past 200 days.
Is It Worth Investing in Avid Bioservices Inc (NASDAQ: CDMO) Right Now?
Company’s 36-month beta value is 1.56.Analysts have differing 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 62.78M, and currently, short sellers hold a 16.44% ratio of that floaft. The average trading volume of CDMO on May 02, 2024 was 1.36M shares.
CDMO) stock’s latest price update
Avid Bioservices Inc (NASDAQ: CDMO) has experienced a rise in its stock price by 0.52 compared to its previous closing price of 7.63. However, the company has seen a gain of 12.30% in its stock price over the last five trading days. Seeking Alpha reported 2024-04-29 that Avid Bioservices, Inc. (NASDAQ:CDMO ) Q3 2024 Earnings Conference Call April 29, 2024 4:30 PM ET Company Participants Tim Brons – Investors Relations Group Nick Green – President and Chief Executive Officer Dan Hart – Chief Financial Officer Matt Kwietniak – Chief Commercial Officer Conference Call Participants Jacob Johnson – Stephens Sean Dodge – RBC Capital Markets Matt Hewitt – Craig-Hallum Capital Group Max Smock – William Blair Paul Knight – KeyBanc Operator Good day, ladies and gentlemen, and welcome to the Avid Bioservices Third Quarter Fiscal 2024 Financial Results Conference Call. At this time, all participants are in a listen-only mode.
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 9.12% 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 -59.33% of loss for the given period.
Volatility was left at 7.09%, however, over the last 30 days, the volatility rate increased by 7.72%, as shares surge +16.39% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +3.09% upper at present.
During the last 5 trading sessions, CDMO rose by +12.30%, which changed the moving average for the period of 200-days by -42.50% in comparison to the 20-day moving average, which settled at $6.91. In addition, Avid Bioservices Inc saw 18.00% 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:
- -0.13 for the present operating margin
- 0.07 for the gross margin
The net margin for Avid Bioservices Inc stands at -0.13. The total capital return value is set at -0.08. Equity return is now at value -9.99, with -4.03 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 0.06. The debt to equity ratio resting at 1.09. The interest coverage ratio of the stock is -10.85.
Currently, EBITDA for the company is 4.6 million with net debt to EBITDA at -16.04. When we switch over and look at the enterprise to sales, we see a ratio of 4.77. The receivables turnover for the company is 4.45for trailing twelve months and the total asset turnover is 0.3. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.46.
Conclusion
In a nutshell, Avid Bioservices Inc (CDMO) has experienced a better performance in recent times. The stock has received mixed “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.
