Moreover, the 36-month beta value for CDMO is 1.38. Analysts have varying opinions on the stock, with 3 analysts rating it as a “buy,” 1 as “overweight,” 1 as “hold,” and 0 as “sell.”
The public float for CDMO is 62.74M and currently, short sellers hold a 20.52% of that float. On August 28, 2024, CDMO’s average trading volume was 1.01M shares.
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CDMO) stock’s latest price update
The stock of Avid Bioservices Inc (NASDAQ: CDMO) has decreased by -1.01 when compared to last closing price of 10.29. Despite this, the company has experienced a -11.20% fall in its stock price over the last five trading sessions. seekingalpha.com reported 2024-07-02 that Avid Bioservices, Inc. (NASDAQ:CDMO ) Q4 2024 Earnings Conference Call July 2, 2024 4:30 PM ET Company Participants Tim Brons – IR, Vida Strategic Partners Nick Green – President & CEO Dan Hart – CFO Matt Kwietniak – Chief Commercial Officer Conference Call Participants Sean Dodge – RBC Capital Jacob Johnson – Stephens Paul Knight – KeyBanc Matt Hewitt – Craig-Hallum Capital Group Max Smock – William Blair Operator Thank you for standing by, and welcome to the Avid Bioservices Fourth Quarter Fiscal Year 2024 Financial Results Conference Call. At this time, all participants are in a listen-only mode.
CDMO’s Market Performance
Avid Bioservices Inc (CDMO) has experienced a -11.20% fall in stock performance for the past week, with a -0.43% drop in the past month, and a 27.80% rise in the past quarter. The volatility ratio for the week is 4.30%, and the volatility levels for the past 30 days are at 5.14% for CDMO. The simple moving average for the last 20 days is -4.55% for CDMO stock, with a simple moving average of 36.38% for the last 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 10.43% 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 -18.77% of loss for the given period.
Volatility was left at 5.14%, however, over the last 30 days, the volatility rate increased by 4.30%, as shares sank -1.34% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +37.52% upper at present.
During the last 5 trading sessions, CDMO fell by -10.20%, which changed the moving average for the period of 200-days by +95.08% in comparison to the 20-day moving average, which settled at $10.66. In addition, Avid Bioservices Inc saw 56.71% 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 Richieri Richard A., who sale 530 shares at the price of $8.36 back on Jul 15 ’24. After this action, Richieri Richard A. now owns 34,229 shares of Avid Bioservices Inc, valued at $4,431 using the latest closing price.
Kwietniak Matthew R., the Chief Commercial Officer of Avid Bioservices Inc, sale 307 shares at $8.36 during a trade that took place back on Jul 15 ’24, which means that Kwietniak Matthew R. is holding 23,410 shares at $2,567 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
- 0.05 for the gross margin
The net margin for Avid Bioservices Inc stands at -1.01. The total capital return value is set at -0.07. Equity return is now at value -112.58, with -34.58 for asset returns.
Based on Avid Bioservices Inc (CDMO), the company’s capital structure generated 0.72 points at debt to capital in total, while cash flow to debt ratio is standing at 0.07. The debt to equity ratio resting at 2.57. The interest coverage ratio of the stock is -6.88.
Currently, EBITDA for the company is -7.57 million with net debt to EBITDA at -17.03. When we switch over and look at the enterprise to sales, we see a ratio of 5.83. The receivables turnover for the company is 4.82for trailing twelve months and the total asset turnover is 0.42. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.47.
Conclusion
To wrap up, the performance of Avid Bioservices Inc (CDMO) has been mixed in recent times. The stock has received a bullish 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.
