Avid Bioservices Inc (NASDAQ:CDMO) has a beta value of 1.66 and has seen 1.66 million shares traded in the last trading session. The company, currently valued at $417.38M, closed the last trade at $6.60 per share which meant it gained $0.31 on the day or 4.93% during that session. The CDMO stock price is -218.94% off its 52-week high price of $21.05 and 38.33% above the 52-week low of $4.07. If we look at the company’s 10-day average daily trading volume, we find that it stood at 3.26 million shares traded. The 3-month trading volume is 1.40 million shares.
Avid Bioservices Inc (NASDAQ:CDMO) trade information
Sporting 4.93% in the green in last session, the stock has traded in the green over the last five days, when the CDMO stock price touched $6.60 or saw a rise of 1.49%. Year-to-date, Avid Bioservices Inc shares have moved 1.54%, while the 5-day performance has seen it change 1.54%. Over the past 30 days, the shares of Avid Bioservices Inc (NASDAQ:CDMO) have changed -14.29%. Short interest in the company has seen 6.59 million shares shorted with days to cover at 6.81.
Avid Bioservices Inc (CDMO) estimates and forecasts
Figures show that Avid Bioservices Inc shares have underperformed across the wider relevant industry. The company’s shares have lost -36.60% over the past 6 months, with this year growth rate of -87.50%, compared to 13.60% for the industry.
Earnings growth for 2024 is a modest -2750.00% while over the next 5 years, the company’s earnings are expected to increase by 15.00%.
CDMO Dividends
Avid Bioservices Inc is expected to release its next earnings report between March 11 and March 14 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Avid Bioservices Inc (NASDAQ:CDMO)’s Major holders
Insiders own 1.04% of the company shares, while shares held by institutions stand at 91.99% with a share float percentage of 92.96%. Investors are also buoyed by the number of investors in a company, with Avid Bioservices Inc having a total of 248 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 9.82 million shares worth more than $137.12 million. As of Jun 29, 2023, Blackrock Inc. held 15.55% of shares outstanding.
The other major institutional holder is Vanguard Group Inc, with the holding of over 4.41 million shares as of Jun 29, 2023. The firm’s total holdings are worth over $61.66 million and represent 6.99% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are iShares Core S&P Smallcap ETF and Vanguard Total Stock Market Index Fund. As of Sep 29, 2023, the former fund manager holds about 6.71% shares in the company for having 4.24 million shares of worth $40.0 million while later fund manager owns 1.95 million shares of worth $27.18 million as of Jun 29, 2023, which makes it owner of about 3.08% of company’s outstanding stock.
