Avid Bioservices Inc (NASDAQ:CDMO) has a beta value of 1.38 and has seen 2.56 million shares traded in the last trading session. The company, currently valued at $740.72M, closed the last trade at $11.61 per share which meant it gained $0.49 on the day or 4.41% during that session. The CDMO stock price is -7.49% off its 52-week high price of $12.48 and 64.94% 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 1.2 million shares traded. The 3-month trading volume is 985.52K shares.
The consensus among analysts is that Avid Bioservices Inc (CDMO) is Buy stock at the moment, with a recommendation rating of 1.40. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 0 out of 3 have rated it as a Hold, with 3 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -0.12.
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Avid Bioservices Inc (NASDAQ:CDMO) trade information
Sporting 4.41% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on recent trading when the CDMO stock price touched $11.61 or saw a rise of 6.97%. Year-to-date, Avid Bioservices Inc shares have moved 78.62%, while the 5-day performance has seen it change 1.04%. Over the past 30 days, the shares of Avid Bioservices Inc (NASDAQ:CDMO) have changed 9.74%. Short interest in the company has seen 12.95 million shares shorted with days to cover at 17.5.
Wall Street analysts have a consensus price target for the stock at $8, which means that the shares’ value could drop -45.12% from current levels. The projected low price target is $8.0 while the price target rests at a high of $8.0. In that case, then, we find that the current price level is 31.09% off the targeted high while a plunge would see the stock lose 31.09% from current levels.
Avid Bioservices Inc (CDMO) estimates and forecasts
Figures show that Avid Bioservices Inc shares have outperformed across the wider relevant industry. The company’s shares have gained 69.99% over the past 6 months, with this year growth rate of 48.57%, compared to 17.30% for the industry. Revenue growth from the last financial year stood is estimated to be 17.00%.
5 analysts offering their estimates for the company have set an average revenue estimate of 34M for the current quarter. 5 have an estimated revenue figure of 41.86M for the next ending quarter.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -66.86% over the past 5 years. Earnings growth for 2024 is a modest 86.88% 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 in October 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 1.10% of the company shares, while shares held by institutions stand at 104.77% with a share float percentage of 105.95%. Investors are also buoyed by the number of investors in a company, with Avid Bioservices Inc having a total of 249.0 institutions that hold shares in the company. The top two institutional holders are BLACKROCK INC. with over 5.11 million shares worth more than $36.46 million. As of 2024-06-30, BLACKROCK INC. held 8.0798% of shares outstanding.
The other major institutional holder is MILLENNIUM MANAGEMENT LLC, with the holding of over 5.1 million shares as of 2024-06-30. The firm’s total holdings are worth over $36.41 million and represent 8.069% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF . As of Jun 30, 2024 , the former fund manager holds about 3.21% shares in the company for having 2.05 shares of worth $23.78 million while later fund manager owns 2.01 shares of worth $23.28 million as of Aug 31, 2024 , which makes it owner of about 3.14% of company’s outstanding stock.
