The stock of Avid Technology, Inc. (NASDAQ:AVID) reached all time low today, Nov, 10 and still has $4.20 target or 11.00% below today’s $4.72 share price. This indicates more downside for the $196.18 million company. This technical setup was reported by Barchart.com. If the $4.20 PT is reached, the company will be worth $21.58 million less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. About 2.14M shares traded hands or 484.23% 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. Avid Technology has been the topic of 4 analyst reports since August 11, 2015 according to StockzIntelligence Inc. Dougherty & Company downgraded Avid Technology, Inc. (NASDAQ:AVID) on Tuesday, August 11 to “Buy” rating. BWS Financial maintained it with “Buy” rating and $11 target price in Wednesday, November 11 report. As per Wednesday, December 9, the company rating was initiated by Singular Research.
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.
State Street holds 441,119 shares or 0% of its portfolio. Fmr Ltd Limited Liability Company holds 0% of its portfolio in Avid Technology, Inc. (NASDAQ:AVID) for 1.83 million shares. Deutsche National Bank Ag last reported 33,691 shares in the company. Moreover, Wells Fargo And Com Mn has 0% invested in Avid Technology, Inc. (NASDAQ:AVID) for 931,288 shares. Dimensional Fund Advsrs L P accumulated 2.40M shares or 0.01% of the stock. Manufacturers Life Insur Communications The has 0% invested in the company for 24,331 shares. Jpmorgan Chase And has invested 0% of its portfolio in Avid Technology, Inc. (NASDAQ:AVID). Parametric Associates Limited Liability Corporation last reported 277,386 shares in the company. Gabelli Funds Limited Liability Corp accumulated 0% or 44,000 shares. Citigroup holds 43 shares or 0% of its portfolio. The Kansas-based Creative Planning has invested 0% in Avid Technology, Inc. (NASDAQ:AVID). Tiaa Cref Mngmt Llc has 0% invested in the company for 119,806 shares. Vanguard Gp has 0% invested in the company for 1.67 million shares. Westport Resources holds 250 shares or 0% of its portfolio. Financial Architects holds 500 shares or 0% of its portfolio.
Insider Transactions: Since May 16, 2016, the stock had 3 insider purchases, and 2 insider sales for $4.41 million net activity. Another trade for 100,000 shares valued at $579,550 was bought by HERNANDEZ LOUIS JR. The insider BOGGS PAULA bought 16,500 shares worth $101,492. Frederick John W. sold 152,813 shares worth $1.35M.
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.
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