In last trading session, Avid Bioservices Inc (NASDAQ:CDMO) saw 0.87 million shares changing hands with its beta currently measuring 1.38. Company’s recent per share price level of $11.34 trading at $0.17 or 1.52% at ring of the bell on the day assigns it a market valuation of $723.49M. That closing price of CDMO’s stock is at a discount of -10.05% from its 52-week high price of $12.48 and is indicating a premium of 64.11% from its 52-week low price of $4.07. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 1.17 million shares which gives us an average trading volume of 1.02 million if we extend that period to 3-months.
For Avid Bioservices Inc (CDMO), analysts’ consensus is at an average recommendation of Buy while assigning it a mean rating of 1.40. Splitting up the data highlights that, out of 3 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 0 suggested the stock as a Hold whereas 3 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -0.12 in the current quarter.
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Avid Bioservices Inc (NASDAQ:CDMO) trade information
Upright in the green during last session for gaining 1.52%, in the last five days CDMO remained trading in the red while hitting it’s week-highest on Wednesday, 09/25/24 when the stock touched $11.34 price level, adding 3.9% to its value on the day. Avid Bioservices Inc’s shares saw a change of 74.46% in year-to-date performance and have moved -2.24% in past 5-day. Avid Bioservices Inc (NASDAQ:CDMO) showed a performance of 10.96% in past 30-days. Number of shares sold short was 12.58 million shares which calculate 16.68 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of 8 to the stock, which implies a fall of -41.75% to its current value. Analysts have been projecting 8 as a low price target for the stock while placing it at a high target of 8. It follows that stock’s current price would jump 29.45% in reaching the projected high whereas dropping to the targeted low would mean a gain of 29.45% for stock’s current value.
Avid Bioservices Inc (CDMO) estimates and forecasts
Statistics highlight that Avid Bioservices Inc is scoring comparatively higher than the scores of other players of the relevant industry. The company added 69.25% of value to its shares in past 6 months, showing an annual growth rate of 48.57% while that of industry is 17.70. Apart from that, the company came raising its revenue forecast for fiscal year 2024. This year revenue growth is estimated to rise 17.00% from the last financial year’s standing.
5 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of 34M for the same. And 5 analysts are in estimates of company making revenue of 41.86M in the next quarter.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -66.86% during past 5 years. In 2024, company’s earnings growth rate is likely to be around 86.88% while estimates for its earnings growth in next 5 years are of 15.00%.
Avid Bioservices Inc (NASDAQ:CDMO)’s Major holders
Insiders are in possession of 1.10% of company’s total shares while institution are holding 104.77 percent of that, with stock having share float percentage of 105.95%. Investors also watch the number of corporate investors in a company very closely, which is 104.77% institutions for Avid Bioservices Inc that are currently holding shares of the company. BLACKROCK INC. is the top institutional holder at CDMO for having 5.11 million shares of worth $36.46 million. And as of 2024-06-30, it was holding 8.0798 of the company’s outstanding shares.
The second largest institutional holder is MILLENNIUM MANAGEMENT LLC, which was holding about 5.1 million shares on 2024-06-30. The number of shares represents firm’s hold over 8.069 of outstanding shares, having a total worth of $36.41 million.
