The stock price of Avid Bioservices Inc (NASDAQ: CDMO) has dropped by -0.04 compared to previous close of 12.33. Despite this, the company has seen a gain of 0.86% in its stock price over the last five trading days. businesswire.com reported 2024-11-14 that MINNEAPOLIS–(BUSINESS WIRE)–Punch & Associates intends to vote AGAINST proposed acquisition of Avid Bioservices, Inc. by GHO Capital and Ampersand Capital.
Is It Worth Investing in Avid Bioservices Inc (NASDAQ: CDMO) Right Now?
Additionally, the 36-month beta value for CDMO is 1.45. There are mixed opinions on the stock, with 3 analysts rating it as a “buy,” 1 rating it as “overweight,” 3 rating it as “hold,” and 0 rating it as “sell.”
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The public float for CDMO is 63.21M and currently, short sellers hold a 18.54% ratio of that float. The average trading volume of CDMO on November 27, 2024 was 1.79M shares.
CDMO’s Market Performance
CDMO’s stock has seen a 0.86% increase for the week, with a 21.07% rise in the past month and a 18.97% gain in the past quarter. The volatility ratio for the week is 0.73%, and the volatility levels for the past 30 days are at 1.96% for Avid Bioservices Inc. The simple moving average for the past 20 days is 4.71% for CDMO’s stock, with a 36.12% 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 11.28% 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 -1.24% of loss for the given period.
Volatility was left at 1.96%, however, over the last 30 days, the volatility rate increased by 0.73%, as shares surge +21.43% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +7.92% upper at present.
During the last 5 trading sessions, CDMO rose by +0.86%, which changed the moving average for the period of 200-days by +84.51% in comparison to the 20-day moving average, which settled at $11.77. In addition, Avid Bioservices Inc saw 89.62% 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 119 shares at the price of $10.15 back on Oct 14 ’24. After this action, Kwietniak Matthew R. now owns 25,407 shares of Avid Bioservices Inc, valued at $1,208 using the latest closing price.
Richieri Richard A., the Chief Operations Officer of Avid Bioservices Inc, sale 2,031 shares at $10.05 during a trade that took place back on Oct 10 ’24, which means that Richieri Richard A. is holding 37,704 shares at $20,412 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
- 0.06 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 -115.84, with -37.08 for asset returns.
Based on Avid Bioservices Inc (CDMO), the company’s capital structure generated 0.73 points at debt to capital in total, while cash flow to debt ratio is standing at 0.05. The debt to equity ratio resting at 2.65. The interest coverage ratio of the stock is -3.19.
Currently, EBITDA for the company is -11.48 million with net debt to EBITDA at -14.19. When we switch over and look at the enterprise to sales, we see a ratio of 6.76. The receivables turnover for the company is 4.05for trailing twelve months and the total asset turnover is 0.43. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.46.
Conclusion
In conclusion, Avid Bioservices Inc (CDMO) has seen better performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
