The stock of AvidXchange Holdings Inc (NASDAQ: AVDX) has decreased by -0.27 when compared to last closing price of 12.86.Despite this, the company has seen a gain of 1.71% in its stock price over the last five trading days. zacks.com reported 2024-07-16 that AvidXchange (AVDX) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
Is It Worth Investing in AvidXchange Holdings Inc (NASDAQ: AVDX) Right Now?
Moreover, the 36-month beta value for AVDX is 1.05. 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.”
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The public float for AVDX is 158.44M and currently, short sellers hold a 5.51% of that float. On July 24, 2024, AVDX’s average trading volume was 1.83M shares.
AVDX’s Market Performance
AVDX’s stock has seen a 1.71% increase for the week, with a 13.80% rise in the past month and a 6.61% gain in the past quarter. The volatility ratio for the week is 2.60%, and the volatility levels for the past 30 days are at 2.38% for AvidXchange Holdings Inc. The simple moving average for the past 20 days is 4.76% for AVDX’s stock, with a 13.90% 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 12.14% 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 -5.42% of loss for the given period.
Volatility was left at 2.38%, however, over the last 30 days, the volatility rate increased by 2.60%, as shares surge +11.05% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +14.01% upper at present.
During the last 5 trading sessions, AVDX rose by +1.63%, which changed the moving average for the period of 200-days by +43.99% in comparison to the 20-day moving average, which settled at $12.31. In addition, AvidXchange Holdings Inc saw 3.51% 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 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 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 6.09. 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
To wrap up, the performance of AvidXchange Holdings Inc (AVDX) has been better in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
