AvidXchange Holdings Inc [NASDAQ: AVDX] traded at a low on Wednesday, posting a -29.72 loss after which it closed the day’ session at $8.94.
The results of the trading session contributed to over 18861859 shares changing hands. Over the past one week, the price volatility of AvidXchange Holdings Inc stands at 8.07% while the volatility over the past one month is 3.72%.
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The market cap for AVDX stock reached $1.85 billion, with 204.08 million shares outstanding and 158.44 million shares in the current float. Compared to the average trading volume of 1.90M shares, AVDX reached a trading volume of 18861859 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say 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 $13.23 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 2.27. 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.
Goldman have made an estimate for AvidXchange Holdings Inc shares, keeping their opinion on the stock as Sell, with their previous recommendation back on April 15, 2024. While these analysts kept the previous recommendation, Keefe Bruyette raised their target price to Mkt Perform. The new note on the price target was released on April 09, 2024, representing the official price target for AvidXchange Holdings Inc stock. Previously, the target price had yet another raise from $12 to $13, while Piper Sandler kept a Neutral rating on AVDX stock.
The Average True Range (ATR) for AvidXchange Holdings Inc is set at 0.58, with the Price to Sales ratio for AVDX stock in the period of the last 12 months amounting to 4.62. The Price to Book ratio for the last quarter was 2.75, with the Price to Cash per share for the same quarter was set at 2.15. Price to Free Cash Flow for AVDX in the course of the last twelve months was 73.06 with Quick ratio for the last quarter at 1.34.
How has AVDX stock performed recently?
AvidXchange Holdings Inc [AVDX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -28.42. With this latest performance, AVDX shares dropped by -25.69% in over the last four-week period, additionally sinking by -20.60% over the last 6 months – not to mention a drop of -27.96% 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 22.91, with the RSI for the last a single of trading hit 17.17, and the three-weeks RSI is set at 27.45 for AvidXchange Holdings Inc [AVDX]. The present Moving Average for the last 50 days of trading for this stock 11.52, while it was recorded at 11.86 for the last single week of trading, and 11.34 for the last 200 days.
AvidXchange Holdings Inc [AVDX]: Deeper insight into the fundamentals
AvidXchange Holdings Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.34 and a Current Ratio set at 1.34.
Insider trade positions for AvidXchange Holdings Inc [AVDX]
The top three institutional holders of AVDX stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.5034%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $178.43 billion in AVDX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $135.36 billion in AVDX stock with ownership which is approximately 5.1238%.
