In the last trading session, 1.06 million Avid Bioservices Inc (NASDAQ:CDMO) shares changed hands as the company’s beta touched 1.64. With the company’s per share price at $6.79 changed hands at -$0.04 or -0.59% during last session, the market valuation stood at $429.40M. CDMO’s last price was a discount, traded about -210.01% off its 52-week high of $21.05. The share price had its 52-week low at $4.07, which suggests the last value was 40.06% up since then. When we look at Avid Bioservices Inc’s average trading volume, we note the 10-day average is 1.61 million shares, with the 3-month average coming to 1.37 million.
Avid Bioservices Inc (NASDAQ:CDMO) trade information
Instantly CDMO was in red as seen at the end of in last trading. With action -3.28%, the performance over the past five days has been red. The drop to weekly highs of 7.34 subtracted -0.59% to the stock’s daily price. The company’s shares are showing year-to-date upside of 4.46%, with the 5-day performance at -3.28% in the red. However, in the 30-day time frame, Avid Bioservices Inc (NASDAQ:CDMO) is -15.65% down. Looking at the short shares, we see there were 6.59 million shares sold at short interest cover period of 6.81 days.
Avid Bioservices Inc (CDMO) estimates and forecasts
Data shows that the Avid Bioservices Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -29.86% over the past 6 months, a -87.50% in annual growth rate that is considerably lower than the industry average of 12.20%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Avid Bioservices Inc will fall -600.00%. Year-over-year growth is forecast to reach -7.10% down from the last financial year.
Consensus estimates given by 5 financial analysts project the company’s revenue in the current quarter to hit an average of $33.45 million. 5 analysts are of the opinion that Avid Bioservices Inc’s revenue for the quarter ending Apr 2024 will be $42.09 million. The estimates for the next quarter sales put growth at 5.80%.
The 2024 estimates are for Avid Bioservices Inc earnings to decrease by -2750.00%, but the outlook for the next 5-year period is at 15.00% per year.
CDMO Dividends
Avid Bioservices Inc is expected to release its next quarterly earnings report between March 27 and March 28.
Avid Bioservices Inc (NASDAQ:CDMO)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 1.04% of Avid Bioservices Inc shares while 91.93% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 92.90%. There are 91.93% institutions holding the Avid Bioservices Inc stock share, with Blackrock Inc. the top institutional holder. As of Jun 29, 2023, the company held 15.55% of the shares, roughly 9.82 million CDMO shares worth $137.12 million.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 6.99% or 4.41 million shares worth $61.66 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Sep 29, 2023 were iShares Core S&P Smallcap ETF and Vanguard Total Stock Market Index Fund. With 4.24 million shares estimated at $40.0 million under it, the former controlled 6.71% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 3.08% of the shares, roughly 1.95 million shares worth around $27.18 million.
