In a filing, AvidXchange Holdings Inc revealed its President Drees Daniel unloaded Company’s shares for reported $0.23 million on Mar 20 ’24. In the deal valued at $13.02 per share,17,604 shares were sold. As a result of this transaction, Drees Daniel now holds 750,744 shares worth roughly $9.65 million.
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Then, Stahl Ryan sold 4,217 shares, generating $52,417 in total proceeds. Upon selling the shares at $12.43, the insider now owns 384,588 shares.
Before that, Wilhite Joel sold 136,158 shares. AvidXchange Holdings Inc shares valued at $1,672,020 were divested by the insider at a price of $12.28 per share. As a result of the transaction, Wilhite Joel now holds 454,878 shares, worth roughly $5.85 million.
Piper Sandler downgraded its AvidXchange Holdings Inc [AVDX] rating to a Neutral from a an Overweight in a research note published on January 02, 2024; the price target was increased to $13 from $12. A number of analysts have revised their coverage, including BTIG Research’s analysts, who began to cover the stock in early December with a ‘”a Buy”‘ rating. BMO Capital Markets began covering AVDX with “Market perform” recommendation on December 05, 2023. Wells Fargo started covering the stock on October 31, 2023. It rated AVDX as “an Equal weight”.
Price Performance Review of AVDX
On Monday, AvidXchange Holdings Inc [NASDAQ:AVDX] saw its stock fall -0.23% to $12.85. Over the last five days, the stock has gained 0.78%. AvidXchange Holdings Inc shares have risen nearly 3.71% since the year began. Nevertheless, the stocks have risen 66.88% over the past one year. While a 52-week high of $13.56 was reached on 02/29/24, a 52-week low of $6.88 was recorded on 01/18/24. SMA at 50 days reached $12.03, while 200 days put it at $10.76. A total of 0.65 million shares were traded, compared to the trading of 1.45 million shares in the previous session.
Levels Of Support And Resistance For AVDX Stock
The 24-hour chart illustrates a support level at 12.77, which if violated will result in even more drops to 12.68. On the upside, there is a resistance level at 12.99. A further resistance level may holdings at 13.12. The Relative Strength Index (RSI) on the 14-day chart is 55.12, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.13, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 30.50%. Stochastics %K at 76.45% indicates the stock is a holding.
How much short interest is there in AvidXchange Holdings Inc?
A steep rise in short interest was recorded in AvidXchange Holdings Inc stocks on Feb 29, 2024, growing by 0.27 million shares to a total of 9.21 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 8.94 million shares. There was a rise of 2.93%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 4.94% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.93.
The most recent change occurred on October 20, 2023 when UBS began covering the stock and recommended ‘”a Buy”‘ rating along with a $11.50 price target.
