Avid Bioservices Inc [NASDAQ: CDMO] loss -30.60% on the last trading session, reaching $6.10 price per share at the time. The company report on March 6, 2024 at 11:58 PM that Avid Bioservices Announces Pricing of Private Placement of Convertible Notes.
The 2029 Notes will represent senior unsecured obligations of the company and will accrue interest payable semiannually in arrears on March 1 and September 1 of each year, beginning on September 1, 2024. The notes will mature on March 1, 2029, unless earlier converted or repurchased.
If compared to the average trading volume of 1.41M shares, CDMO reached a trading volume of 14986919 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 Avid Bioservices Inc [CDMO]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CDMO shares is $13.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CDMO stock is a recommendation set at 1.40. 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.
William Blair have made an estimate for Avid Bioservices Inc shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on September 28, 2023. The new note on the price target was released on March 14, 2023, representing the official price target for Avid Bioservices Inc stock.
The Average True Range (ATR) for Avid Bioservices Inc is set at 0.70, with the Price to Sales ratio for CDMO stock in the period of the last 12 months amounting to 2.82. The Price to Book ratio for the last quarter was 2.10, with the Price to Cash per share for the same quarter was set at 0.49.
Trading performance analysis for CDMO stock
Avid Bioservices Inc [CDMO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -20.57. With this latest performance, CDMO shares dropped by -6.44% in over the last four-week period, additionally sinking by -50.00% over the last 6 months – not to mention a drop of -61.88% 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 CDMO stock in for the last two-week period is set at 39.63, with the RSI for the last a single of trading hit 33.95, and the three-weeks RSI is set at 43.11 for Avid Bioservices Inc [CDMO]. The present Moving Average for the last 50 days of trading for this stock 6.93, while it was recorded at 7.88 for the last single week of trading, and 9.58 for the last 200 days.
Avid Bioservices Inc [CDMO]: A deeper dive into fundamental analysis
Avid Bioservices Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.85 and a Current Ratio set at 1.35.
Avid Bioservices Inc [CDMO]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Avid Bioservices Inc posted 0.01/share EPS, while the average EPS was predicted by analysts to be reported at -0.03/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 133.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CDMO. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Avid Bioservices Inc go to 15.00%.
An analysis of Institutional ownership at Avid Bioservices Inc [CDMO]
The top three institutional holders of CDMO stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CDMO stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CDMO stock with ownership which is approximately 5.8325%.
