Noteworthy Price Action: Avid Technology, Inc. Can’t Be More Risky. Just Reaches All-Time Low

Noteworthy Price Action: Avid Technology, Inc. Can't Be More Risky. Just Reaches All Time Low

The stock of Avid Technology, Inc. (NASDAQ:AVID) reached all time low today, Nov, 23 and still has $3.92 target or 8.00% below today’s $4.26 share price. This indicates more downside for the $166.13M company. This technical setup was reported by Barchart.com. If the $3.92 PT is reached, the company will be worth $13.29M 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 65,168 shares traded hands. Avid Technology, Inc. (NASDAQ:AVID) has declined 27.32% since April 21, 2016 and is downtrending. It has underperformed by 32.65% the S&P500.

Analysts await Avid Technology, Inc. (NASDAQ:AVID) to report earnings on March, 21. They expect $0.15 earnings per share, up 66.67% or $0.06 from last year’s $0.09 per share. AVID’s profit will be $5.85 million for 7.10 P/E if the $0.15 EPS becomes a reality. After $0.42 actual earnings per share reported by Avid Technology, Inc. for the previous quarter, Wall Street now forecasts -64.29% negative EPS growth.

Avid Technology, Inc. (NASDAQ:AVID) Ratings Coverage

Out of 3 analysts covering Avid Technology (NASDAQ:AVID), 2 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. Avid Technology has been the topic of 5 analyst reports since August 11, 2015 according to StockzIntelligence Inc. The stock of Avid Technology, Inc. (NASDAQ:AVID) earned “Buy” rating by Dougherty & Company on Tuesday, August 11. The firm earned “Hold” rating on Thursday, November 10 by BWS Financial. The company was maintained on Wednesday, November 11 by BWS Financial. On Wednesday, December 9 the stock rating was initiated by Singular Research with “Buy”.

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 decreased to 1.55 in Q2 2016. Its down 0.02, from 1.57 in 2016Q1. The ratio worsened, 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.
Brave Asset Mgmt owns 200 shares or 0% of their US portfolio. State Street last reported 441,119 shares in the company. The Illinois-based Northern Trust has invested 0% in Avid Technology, Inc. (NASDAQ:AVID). Oxford Asset Management, a United Kingdom-based fund reported 162,355 shares. Jacobs Levy Equity Mgmt last reported 284,805 shares in the company. The Illinois-based William Harris has invested 0.05% in Avid Technology, Inc. (NASDAQ:AVID). Asset Mgmt Inc, a Colorado-based fund reported 32,772 shares. Numeric Ltd Liability Corp accumulated 36,800 shares or 0% of the stock. Eidelman Virant Cap has 10,000 shares for 0.04% of their US portfolio. Deutsche Bancorporation Ag last reported 0% of its portfolio in the stock. Vanguard Grp Inc holds 0% or 1.67 million shares in its portfolio. Gsa Cap Partners Llp last reported 0.04% of its portfolio in the stock. Royal Bancorporation Of Canada has 0% invested in the company for 372 shares. Metropolitan Life Ins New York has 25,456 shares for 0% of their US portfolio. Private Capital Llc has 0.7% invested in the company for 823,703 shares.

Insider Transactions: Since June 2, 2016, the stock had 1 buying transaction, and 2 sales for $5.41 million net activity. Another trade for 16,500 shares valued at $101,492 was bought by BOGGS PAULA. Another trade for 457,506 shares valued at $4.16M was made by Frederick John W. on Monday, August 15.

Another recent and important Avid Technology, Inc. (NASDAQ:AVID) news was published by Globenewswire.com which published an article titled: “SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Avid …” on November 22, 2016.

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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