Avid Bioservices Inc (NASDAQ:CDMO) – Investors View The Stock Differently Today

ZM Stock

In the last trading session, 1.77 million shares of the Avid Bioservices Inc (NASDAQ:CDMO) were traded, and its beta was 1.63. Most recently the company’s share price was $6.42, and it changed around -$0.28 or -4.18% from the last close, which brings the market valuation of the company to $406.00M. CDMO currently trades at a discount to its 52-week high of $21.05, offering almost -227.88% off that amount. The share price’s 52-week low was $4.07, which indicates that the current value has risen by an impressive 36.6% since then. We note from Avid Bioservices Inc’s average daily trading volume that its 10-day average is 1.38 million shares, with the 3-month average coming to 1.35 million.

Avid Bioservices Inc (NASDAQ:CDMO) trade information

Instantly CDMO has showed a red trend with a performance of -4.18% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -1.23% year-to-date, but still down -4.61% over the last five days. On the other hand, Avid Bioservices Inc (NASDAQ:CDMO) is -16.41% down in the 30-day period. We can see from the shorts that 10.84 million shares have been sold at a short interest cover period of 5.4 day(s).

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Avid Bioservices Inc (CDMO) estimates and forecasts

Avid Bioservices Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -33.95 percent over the past six months and at a -87.50% annual growth rate that is well below the industry average of 13.00%. The year-over-year growth rate is expected to be -7.10%, down from the previous year.

Consensus estimates provided by 5 financial analysts predict the company will bring in an average of $33.45 million in revenue for the current quarter. 5 analysts expect Avid Bioservices Inc to make $42.09 million in revenue for the quarter ending Apr 2024. Forecasts for the next quarter put sales growth at 5.80%.

Avid Bioservices Inc earnings are expected to increase by -2666.67% in 2024, but the outlook is positive 15.00% per year for the next five years.

CDMO Dividends

Avid Bioservices Inc’s next quarterly earnings report is expected to be released around March 11 and March 14.

Avid Bioservices Inc (NASDAQ:CDMO)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 1.04% of Avid Bioservices Inc shares, and 91.93% of them are in the hands of institutional investors. The stock currently has a share float of 92.90%. Avid Bioservices Inc stock is held by 247 institutions, with Blackrock Inc. being the largest institutional investor. By Jun 29, 2023, it held 15.55% of the shares, which is about 9.82 million shares worth $137.12 million.

Vanguard Group Inc, with 6.99% or 4.41 million shares worth $61.66 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

iShares Core S&P Smallcap ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Sep 29, 2023. The former held 4.24 million shares worth $40.0 million, making up 6.71% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 1.95 million shares worth around $27.18 million, which represents about 3.08% of the total shares outstanding.