After finishing at $6.70 in the prior trading day, Avid Bioservices Inc (NASDAQ: CDMO) closed at $6.42, down -4.18%. In other words, the price has decreased by -$0.28 from its previous closing price. On the day, 1773129 shares were traded.
Ratios:
Our goal is to gain a better understanding of CDMO by taking a closer look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 0.85 and its Current Ratio is at 1.35. In the meantime, Its Debt-to-Equity ratio is 1.07 whereas as Long-Term Debt/Eq ratio is at 1.06.
On March 14, 2023, KeyBanc Capital Markets Upgraded its rating to Overweight which previously was Sector Weight but kept the price unchanged to $20.
Insider Transactions:
The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Jan 12 ’24 when Kwietniak Matthew R. sold 274 shares for $6.77 per share. The transaction valued at 1,855 led to the insider holds 19,829 shares of the business.
Hart Daniel R sold 2,408 shares of CDMO for $14,857 on Jan 10 ’24. The Chief Financial Officer now owns 79,305 shares after completing the transaction at $6.17 per share. On Jan 10 ’24, another insider, Ziebell Mark R, who serves as the V. P., General Counsel of the company, sold 1,346 shares for $6.17 each. As a result, the insider received 8,305 and left with 63,269 shares of the company.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, CDMO now has a Market Capitalization of 405.68M and an Enterprise Value of 569.55M. For the stock, the TTM Price-to-Sale (P/S) ratio is 2.97 while its Price-to-Book (P/B) ratio in mrq is 2.21. Its current Enterprise Value per Revenue stands at 4.04 whereas that against EBITDA is 942.96.
Stock Price History:
Over the past 52 weeks, CDMO has reached a high of $21.05, while it has fallen to a 52-week low of $4.07. The 50-Day Moving Average of the stock is 7.01, while the 200-Day Moving Average is calculated to be 8.88.
Shares Statistics:
The stock has traded on average 1.35M shares per day over the past 3-months and 1.38M shares per day over the last 10 days, according to various share statistics. A total of 62.69M shares are outstanding, with a floating share count of 62.58M. Insiders hold about 1.05% of the company’s shares, while institutions hold 91.15% stake in the company. Shares short for CDMO as of Mar 15, 2024 were 10.84M with a Short Ratio of 8.05, compared to 5.65M on Feb 15, 2024. Therefore, it implies a Short% of Shares Outstanding of 17.14% and a Short% of Float of 20.47%.
Earnings Estimates
Its stock is currently analyzed by 4 different market analysts. On average, analysts expect EPS of -$0.05 for the current quarter, with a high estimate of -$0.03 and a low estimate of -$0.07, while EPS last year was $0.01. The consensus estimate for the next quarter is -$0.03, with high estimates of -$0.02 and low estimates of -$0.05.
Analysts are recommending an EPS of between -$0.24 and -$0.3 for the fiscal current year, implying an average EPS of -$0.27. EPS for the following year is -$0.06, with 4 analysts recommending between $0.03 and -$0.18.
Revenue Estimates
A total of 5 analysts have provided revenue estimates for CDMO’s current fiscal year. The highest revenue estimate was $140.13M, while the lowest revenue estimate was $137M, resulting in an average revenue estimate of $138.66M. In the same quarter a year ago, actual revenue was $149.27M, down -7.10% from the average estimate. Based on 5 analysts’ estimates, the company’s revenue will be $165.53M in the next fiscal year. The high estimate is $175M and the low estimate is $156.99M. The average revenue growth estimate for next year is up 19.40% from the average revenue estimate for this year.
