The stock price of AvidXchange Holdings Inc (NASDAQ: AVDX) has surged by 2.40 when compared to previous closing price of 11.27, but the company has seen a 5.77% gain in its stock price over the last five trading sessions. zacks.com reported 2024-06-14 that AvidXchange Holdings, Inc. (AVDX) reachead $10.83 at the closing of the latest trading day, reflecting a +0.09% change compared to its last close.
Is It Worth Investing in AvidXchange Holdings Inc (NASDAQ: AVDX) Right Now?
The 36-month beta value for AVDX is at 1.02. Analysts have varying views on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for AVDX is 158.64M, and currently, shorts hold a 4.22% of that float. The average trading volume for AVDX on June 26, 2024 was 1.66M shares.
AVDX’s Market Performance
AVDX stock saw an increase of 5.77% in the past week, with a monthly gain of 6.07% and a quarterly increase of -10.19%. The volatility ratio for the week is 2.57%, and the volatility levels for the last 30 days are 2.46% for AvidXchange Holdings Inc (AVDX). The simple moving average for the past 20 days is 7.12% for AVDX’s stock, with a 5.08% simple moving average for the past 200 days.
Analysts’ Opinion of AVDX
Many brokerage firms have already submitted their reports for AVDX stocks, with Goldman repeating the rating for AVDX by listing it as a “Sell.” The predicted price for AVDX in the upcoming period, according to Goldman is $11.50 based on the research report published on April 15, 2024 of the current year 2024.
Keefe Bruyette, on the other hand, stated in their research note that they expect to see AVDX reach a price target of $13.50. The rating they have provided for AVDX stocks is “Mkt Perform” according to the report published on April 09th, 2024.
Piper Sandler gave a rating of “Neutral” to AVDX, setting the target price at $13 in the report published on January 02nd of the current year.
AVDX Trading at 2.71% 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 -14.90% of loss for the given period.
Volatility was left at 2.46%, however, over the last 30 days, the volatility rate increased by 2.57%, as shares surge +6.95% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -0.86% lower at present.
During the last 5 trading sessions, AVDX rose by +5.77%, which changed the moving average for the period of 200-days by +12.81% in comparison to the 20-day moving average, which settled at $10.81. In addition, AvidXchange Holdings Inc saw -6.86% 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 Praeger Michael, who sale 29,192 shares at the price of $10.85 back on Jun 11 ’24. After this action, Praeger Michael now owns 10,440,510 shares of AvidXchange Holdings Inc, valued at $316,675 using the latest closing price.
Cunningham Todd Alan, the of AvidXchange Holdings Inc, sale 28,424 shares at $11.02 during a trade that took place back on May 23 ’24, which means that Cunningham Todd Alan is holding 336,017 shares at $313,289 based on the most recent closing price.
Stock Fundamentals for AVDX
Current profitability levels for the company are sitting at:
- -0.1 for the present operating margin
- 0.65 for the gross margin
The net margin for AvidXchange Holdings Inc stands at -0.08. The total capital return value is set at -0.05. Equity return is now at value -4.90, with -1.59 for asset returns.
Based on AvidXchange Holdings Inc (AVDX), the company’s capital structure generated 0.1 points at debt to capital in total, while cash flow to debt ratio is standing at 0.37. The debt to equity ratio resting at 0.12. The interest coverage ratio of the stock is -5.68.
Currently, EBITDA for the company is -10.76 million with net debt to EBITDA at -25.34. When we switch over and look at the enterprise to sales, we see a ratio of 5.47. The receivables turnover for the company is 6.79for trailing twelve months and the total asset turnover is 0.19. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.34.
Conclusion
In conclusion, AvidXchange Holdings Inc (AVDX) has had a mixed performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others 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.
