Avid Bioservices Inc [NASDAQ: CDMO] slipped around -0.02 points on Tuesday, while shares priced at $12.23 at the close of the session, down -0.16%.
Compared to the average trading volume of 1.38M shares, CDMO reached a trading volume of 5953378 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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What do top market gurus say 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 $12.75 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 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.
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 0.44, with the Price to Sales ratio for CDMO stock in the period of the last 12 months amounting to 5.49. The Price to Book ratio for the last quarter was 13.31, with the Price to Cash per share for the same quarter was set at 0.58.
How has CDMO stock performed recently?
Avid Bioservices Inc [CDMO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 16.03. With this latest performance, CDMO shares gained by 20.73% in over the last four-week period, additionally plugging by 32.93% over the last 6 months – not to mention a rise of 140.28% 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 73.40, with the RSI for the last a single of trading hit 82.48, and the three-weeks RSI is set at 66.94 for Avid Bioservices Inc [CDMO]. The present Moving Average for the last 50 days of trading for this stock 10.66, while it was recorded at 11.99 for the last single week of trading, and 8.75 for the last 200 days.
Avid Bioservices Inc [CDMO]: Deeper insight into the fundamentals
Avid Bioservices Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.05 and a Current Ratio set at 1.46.
Earnings analysis for Avid Bioservices Inc [CDMO]
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%.
Insider trade positions for Avid Bioservices Inc [CDMO]
There are presently around $109.19%, or 110.44%% of CDMO stock, in the hands of institutional investors. The top three institutional holders of CDMO stocks are: BLACKROCK INC. with ownership of 5.11 million shares, which is approximately 8.0798%. MILLENNIUM MANAGEMENT LLC, holding 5.1 million shares of the stock with an approximate value of $$36.41 million in CDMO stocks shares; and MILLENNIUM MANAGEMENT LLC, currently with $$27.12 million in CDMO stock with ownership which is approximately 6.0098%.
