In the last trading session, 1.24 million Avid Bioservices Inc (NASDAQ:CDMO) shares changed hands as the company’s beta touched 1.38. With the company’s per share price at $11.38 changed hands at $0.04 or 0.35% during last session, the market valuation stood at $726.04M. CDMO’s last price was a discount, traded about -9.67% off its 52-week high of $12.48. The share price had its 52-week low at $4.07, which suggests the last value was 64.24% up since then. When we look at Avid Bioservices Inc’s average trading volume, we note the 10-day average is 1.26 million shares, with the 3-month average coming to 1.02 million.
Analysts gave the Avid Bioservices Inc (CDMO) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.40. If we narrow down to specifics, the data shows that 0 out of 3 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended CDMO as a Hold, 3 felt it is a Buy and 0 rated the stock as Underweight. Avid Bioservices Inc’s EPS for the current quarter is expected to be -0.12.
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Avid Bioservices Inc (NASDAQ:CDMO) trade information
Instantly CDMO was in green as seen at the end of in last trading. With action 2.34%, the performance over the past five days has been green. The company’s shares are showing year-to-date upside of 75.08%, with the 5-day performance at 2.34% in the green. However, in the 30-day time frame, Avid Bioservices Inc (NASDAQ:CDMO) is 9.85% up. Looking at the short shares, we see there were 12.58 million shares sold at short interest cover period of 16.68 days.
The consensus price target for the stock as assigned by Wall Street analysts is 8, meaning bulls need a downside of -42.25% from its current market value. According to analyst projections, CDMO’s forecast low is 8 with 8 as the target high. To hit the forecast high, the stock’s price needs a 29.7% surge from its current level, while the stock would need to tank 29.7% for it to hit the projected low.
Avid Bioservices Inc (CDMO) estimates and forecasts
Data shows that the Avid Bioservices Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 77.26% over the past 6 months, a 48.57% in annual growth rate that is considerably higher than the industry average of 17.70%. Year-over-year growth is forecast to reach 17.00% up 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 34M. 5 analysts are of the opinion that Avid Bioservices Inc’s revenue for the current quarter will be 41.86M.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -66.86%. The 2024 estimates are for Avid Bioservices Inc earnings to increase by 86.88%, 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 in November.
Avid Bioservices Inc (NASDAQ:CDMO)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 1.10% of Avid Bioservices Inc shares while 104.77% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 105.95%. There are 104.77% institutions holding the Avid Bioservices Inc stock share, with BLACKROCK INC. the top institutional holder. As of 2024-06-30, the company held 8.0798% of the shares, roughly 5.11 million CDMO shares worth $36.46 million.
MILLENNIUM MANAGEMENT LLC holds the second largest percentage of outstanding shares, with 8.069% or 5.1 million shares worth $36.41 million as of 2024-06-30.
