Trading Day Review: AvidXchange Holdings Inc (AVDX) Loses Momentum, Closing at 11.22

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The price of AvidXchange Holdings Inc (NASDAQ: AVDX) closed at $11.22 in the last session, down -0.18% from day before closing price of $11.24. In other words, the price has decreased by -$0.18 from its previous closing price. On the day, 2.43 million shares were traded. AVDX stock price reached its highest trading level at $11.74 during the session, while it also had its lowest trading level at $11.18.

Ratios:

We take a closer look at AVDX’s different ratios to gain a better understanding of the stock. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 5.22 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 91.62. For the most recent quarter (mrq), Quick Ratio is recorded 1.34 and its Current Ratio is at 1.34. In the meantime, Its Debt-to-Equity ratio is 0.21 whereas as Long-Term Debt/Eq ratio is at 0.20.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, Goldman on April 15, 2024, Downgraded its rating to Sell and sets its target price to $11.50 from $13 previously.

On April 09, 2024, Keefe Bruyette started tracking the stock assigning a Mkt Perform rating and target price of $13.50.

Piper Sandler Downgraded its Overweight to Neutral on January 02, 2024, whereas the target price for the stock was revised from $12 to $13.

Insider Transactions:

An investor can also benefit from insider trades by learning what management is thinking about the future direction of stock prices. A recent insider transaction in this stock occurred on Mar 20 ’24 when Drees Daniel sold 17,604 shares for $13.02 per share. The transaction valued at 229,142 led to the insider holds 750,744 shares of the business.

Stahl Ryan sold 4,217 shares of AVDX for $52,417 on Mar 18 ’24. The insider now owns 384,588 shares after completing the transaction at $12.43 per share. On Mar 15 ’24, another insider, Wilhite Joel, who serves as the insider of the company, sold 136,158 shares for $12.28 each. As a result, the insider received 1,672,020 and left with 454,878 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, AVDX now has a Market Capitalization of 2318063104 and an Enterprise Value of 2017808256. For the stock, the TTM Price-to-Sale (P/S) ratio is 5.80 while its Price-to-Book (P/B) ratio in mrq is 3.46. Its current Enterprise Value per Revenue stands at 5.051 whereas that against EBITDA is -1112.353.

Stock Price History:

Over the past 52 weeks, AVDX has reached a high of $13.56, while it has fallen to a 52-week low of $6.88. The 50-Day Moving Average of the stock is -8.54%, while the 200-Day Moving Average is calculated to be 2.63%.

Shares Statistics:

According to the various share statistics, AVDX traded on average about 1.81M shares per day over the past 3-months and 2451740 shares per day over the past 10 days. A total of 204.08M shares are outstanding, with a floating share count of 157.64M. Insiders hold about 23.64% of the company’s shares, while institutions hold 68.70% stake in the company. Shares short for AVDX as of 1714435200 were 7291814 with a Short Ratio of 4.03, compared to 1711584000 on 7614300. Therefore, it implies a Short% of Shares Outstanding of 7291814 and a Short% of Float of 3.94.

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