AVDX’s short interest reaches 5.91 million shares on Apr 27, 2023

0
28

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. AvidXchange Holdings Inc. shares valued at $9,150,000 were sold by Harris Matthew C on May 18. At $9.15 per share, Harris Matthew C sold 1,000,000 shares. The insider’s holdings dropped to 14,139,898 shares worth approximately $130.65 million following the completion of this transaction.

25-cent Stock Takes $11T Commodities Sector Digital

One brilliantly-run technology firm has successfully partnered with some of the largest players in the industry to bring a first-of-its-kind digital solution to the global commodities supply chain sector. Best of all, this upstart technology firm is currently trading undiscovered — below 25-cents per share — so very, very few investors know about it yet! For investors… it's an early-stage opportunity in a company that's bringing the US$11T global commodities sector straight into the 21st century.

All the details are in the FREE online report you can get here.

Sponsored

Also, Praeger Michael sold 24,835 shares, netting a total of over 219,045 in proceeds. Following the sale of shares at $8.82 each, the insider now holds 9,947,842 shares.

Before that, Wilhite Joel had sold 12,409 shares from its account. In a trade valued at $109,447, the insider traded AvidXchange Holdings Inc. shares for $8.82 each. Upon closing the transaction, the insider’s holdings decreased to 12,409 shares, worth approximately $3.19 million.

Analyzing AVDX Stock Performance

On Thursday, AvidXchange Holdings Inc. [NASDAQ: AVDX] plunged -0.65% to $9.24. The stock’s lowest price that day was $9.13, but it reached a high of $9.39 in the same session. During the last five days, there has been a drop of approximately -1.81%. Over the course of the year, AvidXchange Holdings Inc. shares have dropped approximately -7.04%. Shares of the company reached a 52-week high of $11.86 on 02/02/23 and a 52-week low of $7.02 on 05/02/23. A 50-day SMA is recorded $7.96, while a 200-day SMA reached $8.77. Nevertheless, trading volume fell to 1.17 million shares from 2.01 million shares the previous day.

Support And Resistance Levels for AvidXchange Holdings Inc. (AVDX)

According to the 24-hour chart, there is a support level at 9.12, which, if violated, would cause prices to drop to 8.99. In the upper region, resistance lies at 9.38. The next price resistance is at 9.51. RSI (Relative Strength Index) is 64.97 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.39, which suggests the price will decrease in the coming days. Percent R is at 19.02%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

Is AvidXchange Holdings Inc. subject to short interest?

Stocks of AvidXchange Holdings Inc. saw a sharp rise in short interest on Apr 27, 2023 jumping by 0.5 million shares to 5.91 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2023 was 5.41 million shares. A jump of 8.46% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.09 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.09.

Which companies own the most shares of AvidXchange Holdings Inc. (AVDX)?

According to The Vanguard Group, Inc. filings, the company currently owns 14,335,640 shares, which is about 7.19% of the total AVDX shares outstanding. The investor’s shares have appreciated by 1,372,499 from its previous 13-F filing of 12963141.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $64,988,999. Millennium Management LLC acquire a 2.92% interest valued at $60.1 million while Senvest Management LLC 5,786,358 stake. In its current portfolio, Biltmore Family Office LLC holds 3,931,883 shares valued at $29.21 million.

In terms of AvidXchange Holdings Inc. share price expectations, FactSet research, analysts set an average price target of $10.41 in the next 12 months, up nearly 18.28% from the previous closing price of $9.30. Analysts anticipate AvidXchange Holdings Inc. stock to reach $13.00 by 2023, with the lowest price target being $8.00.

LEAVE A REPLY

Please enter your comment!
Please enter your name here