AvidXchange Holdings Inc’s filing revealed that 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 $8.6 million.
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 $5.21 million.
Goldman downgraded its AvidXchange Holdings Inc [AVDX] rating to a Sell from a a Neutral in a research note published on April 15, 2024; the price target was decreased to $11.50 from $13. A number of analysts have revised their coverage, including Keefe Bruyette’s analysts, who began to cover the stock in early April with a ‘”a Mkt perform”‘ rating. Piper Sandler also remained covering AVDX and has decreased its forecast on January 02, 2024 with a “Neutral” recommendation from previously “an Overweight” rating. BTIG Research started covering the stock on December 06, 2023. It rated AVDX as “a Buy”.
Price Performance Review of AVDX
On Friday, AvidXchange Holdings Inc [NASDAQ:AVDX] saw its stock fall -0.61% to $11.45. Over the last five days, the stock has lost -1.63%. AvidXchange Holdings Inc shares have fallen nearly -7.59% since the year began. Nevertheless, the stocks have risen 46.05% 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 $12.39, while 200 days put it at $10.90. A total of 0.9 million shares were traded, compared to the trading of 1.12 million shares in the previous session.
Levels Of Support And Resistance For AVDX Stock
The 24-hour chart illustrates a support level at 11.34, which if violated will result in even more drops to 11.23. On the upside, there is a resistance level at 11.58. A further resistance level may holdings at 11.72. The Relative Strength Index (RSI) on the 14-day chart is 38.69, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.44, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 74.11%. Stochastics %K at 19.91% indicates the stock is a buying.
The most recent change occurred on December 05, 2023 when BMO Capital Markets began covering the stock and recommended ‘”a Market perform”‘ rating along with a $11 price target.
