Avid Technology (AVID) Stock Price Down 5.5%

Avid Technology, Inc. (NASDAQ:AVID)’s share price dropped 5.5% on Thursday . The company traded as low as $5.52 and last traded at $5.66. Approximately 759,400 shares changed hands during trading, an increase of 105% from the average daily volume of 369,636 shares. The stock had previously closed at $5.99.

AVID has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Avid Technology from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. ValuEngine upgraded shares of Avid Technology from a “hold” rating to a “buy” rating in a research report on Tuesday, November 21st. Finally, Dougherty & Co lowered shares of Avid Technology from a “neutral” rating to a “sell” rating and set a $4.50 target price for the company. in a research report on Thursday, December 7th.

The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of -0.71. The company has a market capitalization of $231.88, a PE ratio of -31.61 and a beta of 1.80.

Avid Technology (NASDAQ:AVID) last issued its earnings results on Thursday, November 9th. The technology company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. Avid Technology had a negative net margin of 1.75% and a negative return on equity of 5.36%. analysts anticipate that Avid Technology, Inc. will post 0.34 earnings per share for the current year.

In other news, Director Robert M. Bakish acquired 20,000 shares of the business’s stock in a transaction dated Thursday, December 7th. The stock was bought at an average cost of $6.00 per share, for a total transaction of $120,000.00. Following the completion of the transaction, the director now owns 693,058 shares of the company’s stock, valued at $4,158,348. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.50% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Petrus Trust Company LTA bought a new position in shares of Avid Technology in the second quarter valued at approximately $105,000. Tower Research Capital LLC TRC bought a new position in shares of Avid Technology in the second quarter valued at approximately $105,000. Voya Investment Management LLC boosted its position in shares of Avid Technology by 25.6% in the second quarter. Voya Investment Management LLC now owns 20,703 shares of the technology company’s stock valued at $109,000 after acquiring an additional 4,220 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Avid Technology in the third quarter valued at approximately $109,000. Finally, Trexquant Investment LP bought a new position in shares of Avid Technology in the third quarter valued at approximately $130,000. Institutional investors own 71.77% of the company’s stock.

WARNING: This piece of content was originally posted by Ticker Report and is the sole property of of Ticker Report. If you are reading this piece of content on another domain, it was copied illegally and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this piece of content can be accessed at https://www.tickerreport.com/banking-finance/3147120/avid-technology-avid-stock-price-down-5-5.html.

About Avid Technology

Avid Technology, Inc is a provider of an open and integrated technology platform, along with applications and services that enable the creation, distribution and monetization of audio and video content. The Company develops, markets, sells and supports software and hardware for digital media content production, management, secured content storage and distribution.

Receive News & Ratings for Avid Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avid Technology and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


© 2006-2018 Ticker Report. Google+.