The stock of Avid Technology, Inc. (NASDAQ:AVID) hit a new 52-week low and has $4.49 target or 10.00% below today’s $4.99 share price. The 9 months bearish chart indicates high risk for the $207.58M company. The 1-year low was reported on Nov, 10 by Barchart.com. If the $4.49 price target is reached, the company will be worth $20.76 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 1.20M shares traded hands or 227.61% up from the average. Avid Technology, Inc. (NASDAQ:AVID) has risen 5.69% since April 8, 2016 and is uptrending. It has outperformed by 0.04% the S&P500.
Avid Technology, Inc. (NASDAQ:AVID) Ratings Coverage
Out of 3 analysts covering Avid Technology (NASDAQ:AVID), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $11 is the highest target while $8.50 is the lowest. The $9.75 average target is 95.39% above today’s ($4.99) stock price. Avid Technology has been the topic of 4 analyst reports since August 11, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Dougherty & Company given on Tuesday, August 11. The firm earned “Buy” rating on Wednesday, December 9 by Singular Research. As per Wednesday, November 11, the company rating was maintained by BWS Financial.
According to Zacks Investment Research, “Avid Technology, Inc. develops, markets, sells and supports a wide range of software and systems for creating and manipulating digital media content. Digital media are media elements, whether video or audio or graphics, in which the image, sound or picture is recorded and stored as digital values, as opposed to analog signals. The company’s systems are designed to improve the productivity of video and film editors by enabling them to edit moving pictures and sound in a faster, easier, and more cost-effective manner than traditional analog tape-based systems.”
Insitutional Activity: The institutional sentiment increased to 1.57 in 2016 Q2. Its up 0.40, from 1.17 in 2016Q1. The ratio is positive, as 8 funds sold all Avid Technology, Inc. shares owned while 20 reduced positions. 13 funds bought stakes while 31 increased positions. They now own 26.65 million shares or 21.23% less from 33.83 million shares in 2016Q1.
Teton Advsr has invested 0.03% of its portfolio in Avid Technology, Inc. (NASDAQ:AVID). Parametric Portfolio Limited Co has invested 0% of its portfolio in Avid Technology, Inc. (NASDAQ:AVID). Moreover, Amer Group Inc has 0% invested in Avid Technology, Inc. (NASDAQ:AVID) for 18,510 shares. Nationwide Fund Advisors reported 142,966 shares or 0% of all its holdings. Thompson Davis & Co holds 29,100 shares or 0.27% of its portfolio. Bank Of America De, a North Carolina-based fund reported 15,416 shares. Millennium Mngmt Ltd Llc last reported 12,867 shares in the company. Private Mgmt Limited Liability Co last reported 823,703 shares in the company. Citigroup Incorporated, a New York-based fund reported 43 shares. Moreover, Ladenburg Thalmann Fin has 0% invested in Avid Technology, Inc. (NASDAQ:AVID) for 205 shares. Gsa Partners Ltd Liability Partnership, a United Kingdom-based fund reported 126,247 shares. Blackrock Advsrs Lc accumulated 0% or 57,377 shares. D E Shaw Co Inc reported 111,785 shares or 0% of all its holdings. Creative Planning has invested 0% of its portfolio in Avid Technology, Inc. (NASDAQ:AVID). Moreover, Blackrock Fund Advisors has 0% invested in Avid Technology, Inc. (NASDAQ:AVID) for 838,857 shares.
Insider Transactions: Since May 16, 2016, the stock had 3 buys, and 2 insider sales for $4.41 million net activity. $101,492 worth of Avid Technology, Inc. (NASDAQ:AVID) was bought by BOGGS PAULA. 100,000 shares with value of $579,550 were bought by HERNANDEZ LOUIS JR on Monday, May 16. Frederick John W. also sold $1.35M worth of Avid Technology, Inc. (NASDAQ:AVID) on Friday, August 12.
More news for Avid Technology, Inc. (NASDAQ:AVID) were recently published by: Warriortradingnews.com, which released: “Avid Technology, Inc. | $AVID Stock | Shares Fall On Lower Than Expected …” on November 10, 2016. Fool.com‘s article titled: “Why Avid Technology, Inc. Stock Plummeted Tuesday” and published on August 11, 2015 is yet another important article.
AVID Company Profile
Avid Technology, Inc., incorporated on October 4, 1987, provides an open and integrated technology platform, along with applications and services that enable the creation, distribution and monetization of audio and video content. The Firm develops, markets, sells and supports software and hardware for digital media content production, management, secured content storage and distribution. The Company’s products are used in production and post-production facilities; film studios; network, affiliate, independent and cable television stations; recording studios; live-sound performance venues; advertising agencies; government and educational institutions; corporate communication departments, and by independent video and audio creative professionals, as well as aspiring professionals and enthusiasts. Projects produced using its products include feature films, television programs, live events, news broadcasts, commercials, music, video and other digital media content.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.