Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. AvidXchange Holdings Inc shares valued at $229,142 were sold by Drees Daniel on Mar 20 ’24. At $13.02 per share, Drees Daniel sold 17,604 shares. The insider’s holdings dropped to 750,744 shares worth approximately $8.53 million following the completion of this transaction.
Also, Stahl Ryan sold 4,217 shares, netting a total of over 52,417 in proceeds. Following the sale of shares at $12.43 each, the insider now holds 384,588 shares.
Before that, Wilhite Joel had sold 136,158 shares from its account. In a trade valued at $1,672,020, the insider traded AvidXchange Holdings Inc shares for $12.28 each. Upon closing the transaction, the insider’s holdings decreased to 136,158 shares, worth approximately $5.17 million.
As published in a research note from Goldman on April 15, 2024, AvidXchange Holdings Inc [AVDX] has been rated down from a Neutral to a Sell and the price target has been revised to $11.50 from $13. Analysts at Keefe Bruyette started covering the stock with ‘”a Mkt perform”‘ outlook in a report released in early April. As of January 02, 2024, Piper Sandler has decreased its “an Overweight” rating to a “Neutral” for AVDX. Earlier on December 06, 2023, BTIG Research initiated its rating. Their recommendation was “a Buy” for AVDX stock.
Analyzing AVDX Stock Performance
During the last five days, there has been a drop of approximately -3.81%. Over the course of the year, AvidXchange Holdings Inc shares have dropped approximately -8.31%. Shares of the company reached a 52-week high of $13.56 on 02/29/24 and a 52-week low of $10.35 on 01/18/24. A 50-day SMA is recorded $12.40, while a 200-day SMA reached $10.89. Nevertheless, trading volume fell to 0.89 million shares from 2.24 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 11.27, which, if violated, would cause prices to drop to 11.18. In the upper region, resistance lies at 11.48. The next price resistance is at 11.60. RSI (Relative Strength Index) is 36.42 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.79, which suggests the price will decrease in the coming days. Percent R is at 87.32%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
