AvidXchange Holdings Inc’s recent filing unveils that its Officer Wilhite Joel acquired Company’s shares for reported $0.16 million on Aug 30 ’24. In the deal valued at $8.09 per share,19,358 shares were bought.
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Then, Wilhite Joel sold 18,028 shares, generating $143,844 in total proceeds. Upon selling the shares at $7.98, the insider now owns 419,636 shares.
Before that, Stahl Ryan sold 9,947 shares. AvidXchange Holdings Inc shares valued at $79,366 were divested by the insider at a price of $7.98 per share. As a result of the transaction, Stahl Ryan now holds 387,300 shares, worth roughly $3.13 million.
JP Morgan downgraded its AvidXchange Holdings Inc [AVDX] rating to a Neutral from a an Overweight in a research note published on August 20, 2024; the price target was decreased to $9 from $11. A number of analysts have revised their coverage, including UBS’s analysts, who decreased its forecast for the stock in early August from “a Buy” to “a Neutral”. Goldman also remained covering AVDX and has decreased its forecast on April 15, 2024 with a “Sell” recommendation from previously “Neutral” rating. Keefe Bruyette started covering the stock on April 09, 2024. It rated AVDX as “a Mkt perform”.
Price Performance Review of AVDX
On Friday, AvidXchange Holdings Inc [NASDAQ:AVDX] saw its stock fall -0.98% to $8.07. Over the last five days, the stock has gained 2.28%. AvidXchange Holdings Inc shares have fallen nearly -34.87% since the year began. Nevertheless, the stocks have fallen -21.19% 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 08/05/24. SMA at 50 days reached $10.27, while 200 days put it at $11.25.
Levels Of Support And Resistance For AVDX Stock
The 24-hour chart illustrates a support level at 7.96, which if violated will result in even more drops to 7.86. On the upside, there is a resistance level at 8.21. A further resistance level may holdings at 8.35. The Relative Strength Index (RSI) on the 14-day chart is 36.84, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.05, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 38.46%. Stochastics %K at 63.04% 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 2024-08-15, dropping by -2.82 million shares to a total of 5.06 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-15 was 7.88 million shares. There was a decline of -55.59%, which implies that there is a negative sentiment for the stock.
