During the last session, Avid Bioservices Inc (NASDAQ:CDMO)’s traded shares were 1.37 million, with the beta value of the company hitting 1.65. At the end of the trading day, the stock’s price was $6.09, reflecting an intraday loss of -2.56% or -$0.16. The 52-week high for the CDMO share is $21.05, that puts it down -245.65 from that peak though still a striking 33.17% gain since the share price plummeted to a 52-week low of $4.07. The company’s market capitalization is $385.13M, and the average intraday trading volume over the past 10 days was 2.88 million shares, and the average trade volume was 1.57 million shares over the past three months.
Avid Bioservices Inc (NASDAQ:CDMO) trade information
Avid Bioservices Inc (CDMO) registered a -2.56% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -2.56% in intraday trading to $6.09, hitting a weekly high. The stock’s 5-day price performance is -0.16%, and it has moved by -8.83% in 30 days. Based on these gigs, the overall price performance for the year is -67.59%. The short interest in Avid Bioservices Inc (NASDAQ:CDMO) is 6.59 million shares and it means that shorts have 6.81 day(s) to cover.
Avid Bioservices Inc (CDMO) estimates and forecasts
Statistics show that Avid Bioservices Inc has underperformed its competitors in share price, compared to the industry in which it operates. Avid Bioservices Inc (CDMO) shares have gone down -40.90% during the last six months, with a year-to-date growth rate less than the industry average at -87.50% against 13.40. In the rating firms’ projections, revenue will decrease -7.10% compared to the previous financial year.
Revenue for the current quarter is expected to be $33.45 million as predicted by 5 analyst(s). Meanwhile, a consensus of 5 analyst(s) estimates revenue growth to $42.09 million by the end of Apr 2024.
While earnings are projected to return -2775.00% in 2024, the next five years will return 15.00% per annum.
CDMO Dividends
Avid Bioservices Inc is due to release its next quarterly earnings between March 15 and March 17. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Avid Bioservices Inc (NASDAQ:CDMO)’s Major holders
Avid Bioservices Inc insiders own 1.04% of total outstanding shares while institutional holders control 91.99%, with the float percentage being 92.96%. Blackrock Inc. is the largest shareholder of the company, while 248 institutions own stock in it. As of Jun 29, 2023, the company held over 9.82 million shares (or 15.55% of all shares), a total value of $137.12 million in shares.
The next largest institutional holding, with 4.41 million shares, is of Vanguard Group Inc’s that is approximately 6.99% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $61.66 million.
Also, the Mutual Funds coming in first place with the largest holdings of Avid Bioservices Inc (CDMO) shares are iShares Core S&P Smallcap ETF and Vanguard Total Stock Market Index Fund. Data provided on Sep 29, 2023 indicates that iShares Core S&P Smallcap ETF owns about 4.24 million shares. This amounts to just over 6.71 percent of the company’s overall shares, with a $40.0 million market value. The same data shows that the other fund manager holds slightly less at 1.95 million, or about 3.08% of the stock, which is worth about $27.18 million.
