AvidXchange Holdings Inc. [NASDAQ: AVDX] loss -9.65% or -0.96 points to close at $8.99 with a heavy trading volume of 3953769 shares.
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It opened the trading session at $9.70, the shares rose to $9.715 and dropped to $8.95, the range by which the price of stock traded the whole day. The daily chart for AVDX points out that the company has recorded 12.09% gains over the past six months. However, it is still -53.41% lower than its most recent low trading price.
If we look at the average trading volume of 1.28M shares, AVDX reached to a volume of 3953769 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about AvidXchange Holdings Inc. [AVDX]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AVDX shares is $11.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AVDX stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
BofA Securities have made an estimate for AvidXchange Holdings Inc. shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on November 03, 2022. While these analysts kept the previous recommendation, Morgan Stanley raised their target price to Equal-Weight. The new note on the price target was released on April 28, 2022, representing the official price target for AvidXchange Holdings Inc. stock. Previously, the target price had yet another raise to $16, while Robert W. Baird analysts kept a Outperform rating on AVDX stock. On April 08, 2022, analysts decreased their price target for AVDX shares from 13 to 10.
The Average True Range (ATR) for AvidXchange Holdings Inc. is set at 0.42, with the Price to Sales ratio for AVDX stock in the period of the last 12 months amounting to 6.05. The Price to Book ratio for the last quarter was 2.65, with the Price to Cash per share for the same quarter was set at 2.52.
Trading performance analysis for AVDX stock
AvidXchange Holdings Inc. [AVDX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.43. With this latest performance, AVDX shares dropped by -17.22% in over the last four-week period, additionally plugging by 12.09% over the last 6 months – not to mention a drop of -6.65% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AVDX stock in for the last two-week period is set at 29.86, with the RSI for the last a single of trading hit 21.84, and the three-weeks RSI is set at 36.33 for AvidXchange Holdings Inc. [AVDX]. The present Moving Average for the last 50 days of trading for this stock 10.22, while it was recorded at 9.78 for the last single week of trading, and 8.58 for the last 200 days.
AvidXchange Holdings Inc. [AVDX]: A deeper dive into fundamental analysis
AvidXchange Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 1.50.
An analysis of insider ownership at AvidXchange Holdings Inc. [AVDX]
There are presently around $1,224 million, or 70.90% of AVDX stock, in the hands of institutional investors. The top three institutional holders of AVDX stocks are: BAIN CAPITAL VENTURE INVESTORS, LLC with ownership of 18,929,292, which is approximately 0% of the company’s market cap and around 4.60% of the total institutional ownership; VANGUARD GROUP INC, holding 13,250,855 shares of the stock with an approximate value of $119.12 million in AVDX stocks shares; and BLACKROCK INC., currently with $113.41 million in AVDX stock with ownership of nearly 8.622% of the company’s market capitalization.
80 institutional holders increased their position in AvidXchange Holdings Inc. [NASDAQ:AVDX] by around 16,893,886 shares. Additionally, 46 investors decreased positions by around 20,631,220 shares, while 25 investors held positions by with 98,631,365 shares. The mentioned changes placed institutional holdings at 136,156,471 shares, according to the latest SEC report filing. AVDX stock had 28 new institutional investments in for a total of 3,144,442 shares, while 18 institutional investors sold positions of 14,790,394 shares during the same period.