Avid Bioservices Inc (NASDAQ:CDMO)’s traded shares stood at 0.39 million during the last session, with the company’s beta value hitting 1.40. At the close of trading, the stock’s price was $10.63, to imply an increase of 0.66% or $0.07 in intraday trading. The CDMO share’s 52-week high remains $12.48, putting it -17.4% down since that peak but still an impressive 61.71% since price per share fell to its 52-week low of $4.07. The company has a valuation of $678.19M, with an average of 1.2 million shares in intraday trading volume over the past 10 days and average of 1.01 million shares over the past 3 months.
Analysts have given a consensus recommendation of Buy for Avid Bioservices Inc (CDMO), translating to a mean rating of 1.40. Of 3 analyst(s) looking at the stock, 0 analyst(s) give CDMO a Sell rating. 0 of those analysts rate the stock as Overweight while 0 advise Hold as 3 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -0.12.
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Avid Bioservices Inc (NASDAQ:CDMO) trade information
After registering a 0.66% upside in the last session, Avid Bioservices Inc (CDMO) has traded red over the past five days. The 5-day price performance for the stock is -6.26%, and 18.11% over 30 days. With these gigs, the year-to-date price performance is 63.54%. Short interest in Avid Bioservices Inc (NASDAQ:CDMO) saw shorts transact 12.58 million shares and set a 16.68 days time to cover.
The extremes give us $8 and $8 for target low and target high price respectively. As such, CDMO has been trading 24.74% off suggested target high and 24.74% from its likely low.
Avid Bioservices Inc (CDMO) estimates and forecasts
Looking at statistics comparing Avid Bioservices Inc share performance against respective industry, we note that the company has outperformed competitors. Avid Bioservices Inc (CDMO) shares are 67.67% up over the last 6 months, with its year-to-date growth rate higher than industry average at 62.86% against 17.60%. Revenue is forecast to grow 20.00% this quarter before jumping 44.40% for the next one. The rating firms project that company’s revenue will grow 17.00% compared to the previous financial year.
Revenue forecast for the current quarter as set by 5 analysts is 34M. Meanwhile, for the current quarter, a total of 5 analyst(s) estimate revenue growth to 41.86M.
An assessment of the company’s 5-year growth patterns shows that annual earnings shrunk an estimated -66.86% for the past 5-year period. While 2024 is set for a 86.88% return in earnings, projections for the next 5 years are at 15.00% annually.
CDMO Dividends
Avid Bioservices Inc has its next earnings report out on 2024-Dec-05. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too.
Avid Bioservices Inc (NASDAQ:CDMO)’s Major holders
Avid Bioservices Inc insiders hold 1.10% of total outstanding shares, with institutional holders owning 104.81% of the shares at 105.98% float percentage. In total, 104.81% institutions holds shares in the company, led by BLACKROCK INC.. As of 2024-06-30, the company held over 5.11 million shares (or 8.0798% of shares), all amounting to roughly $36.46 million.
The next major institution holding the largest number of shares is MILLENNIUM MANAGEMENT LLC with 5.1 million shares, or about 8.069% of shares outstanding. As of the market price on 2024-06-30, these shares were worth $36.41 million.
