Avid Bioservices Inc [CDMO] stock is trading at $6.73, down -2.04%. In order to assess the stock’s recent performance, you can check whether its short-term value is rising or falling. The CDMO shares have gain 7.00% over the last week, with a monthly amount drifted -15.77%, and not seem to be holding up well over a long-time horizon.
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On 20, March 2024, Avid Bioservices Announces Receipt of Deficiency Notice from Nasdaq Regarding Late Form 10-Q. In a post published today on Yahoo Finance, Avid Bioservices, Inc. (Nasdaq:CDMO), a dedicated biologics contract development and manufacturing organization (CDMO), announced today it received a notice (the “Notice”) on March 19, 2024 from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) advising the company that it was not in compliance with Nasdaq’s continued listing requirements under Nasdaq Listing Rule 5250(c)(1) (the “Rule”) as a result of its failure to file its Quarterly Report on Form 10-Q for the fiscal quarter ended January 31, 2024 (the “Form 10-Q”) in a timely manner.
From an analyst’s perspective:
Previously, KeyBanc Capital Markets upgraded its rating to Overweight on March 14, 2023, and kept the price target unchanged to $20. On December 08, 2021, downgrade downgraded it’s rating to Sector Weight. RBC Capital Mkts started tracking the stock assigning a Outperform rating and suggested a price target of $21 on March 17, 2021. KeyBanc Capital Markets initiated its recommendation with a Overweight and recommended $12 as its price target on November 10, 2020. First Analysis Sec upgraded its rating to Strong Buy for this stock on December 10, 2019. In a note dated October 17, 2019, Stephens initiated an Overweight rating and provided a target price of $8 on this stock.
Avid Bioservices Inc [CDMO] stock has fluctuated between $4.07 and $21.05 over the past year. Avid Bioservices Inc [NASDAQ: CDMO] shares were valued at $6.73 at the most recent close of the market.
Analyzing the CDMO fundamentals
Avid Bioservices Inc [NASDAQ:CDMO] reported sales of 136.72M for the trailing twelve months, which represents a drop of -11.09%. Gross Profit Margin for this corporation currently stands at 0.13% with Operating Profit Margin at -0.08%, Pretax Profit Margin comes in at -0.08%, and Net Profit Margin reading is -0.08%. To continue investigating profitability, this company’s Return on Assets is posted at -0.03, Equity is -0.06 and Total Capital is -0.03. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 1.06.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 6.60 points at the first support level, and at 6.46 for the second support level. However, for the 1st resistance point, the stock is sitting at 6.89, and for the 2nd resistance point, it is at 7.04.
Avid Bioservices Inc [CDMO] reported earnings per share of -$0.15 for its fiscal quarter that ended on 10/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.06/share, meaning a difference of $-0.09 and a surprise factor of -150.00%. By comparison, the stated earnings for the previous quarter ended on 7/30/2023 were -$0.03 per share as compared to estimates of -$0.03 per share, a difference of $0 representing a surprise of 0.00%.
Ratios To Look Out For
For context, Avid Bioservices Inc’s Current Ratio is 1.35. In addition, the Quick Ratio stands at 0.85 and the Cash Ratio stands at 0.41. Considering the valuation of this stock, the price to sales ratio is 3.11, the price to book ratio is 2.32.
Transactions by insiders
Recent insider trading involved Kwietniak Matthew R., Chief Commercial Officer, that happened on Jan 12 ’24 when 274.0 shares were sold. Chief Financial Officer, Hart Daniel R completed a deal on Jan 10 ’24 to sell 2408.0 shares. Meanwhile, V. P., General Counsel Ziebell Mark R sold 1346.0 shares on Jan 10 ’24.
