Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. AvidXchange Holdings Inc shares valued at $62,610 were purchased by RYAN STAHL on Oct 16 ’24. At $8.43 per share, RYAN STAHL acquired 7,427 shares.
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Also, Stahl Ryan sold 7,621 shares, netting a total of over 61,997 in proceeds. Following the sale of shares at $8.13 each, the insider now holds 377,030 shares.
Before that, RYAN STAHL had added 7,621 shares to its account. In a trade valued at $61,578, the Officer bought AvidXchange Holdings Inc shares for $8.08 each.
As published in their initiating research note from Compass Point on September 04, 2024, AvidXchange Holdings Inc [AVDX] has been a Neutral and the price target has been revised to $8. Analysts at JP Morgan downgraded the stock from ‘”an Overweight”‘ to ‘”a Neutral”‘ outlook in a report released in mid August. As of August 01, 2024, UBS has decreased its “Buy” rating to a “Neutral” for AVDX. Earlier on April 15, 2024, Goldman downgraded its rating. Their new recommendation was “a Sell” for AVDX stock which previously was a “a Neutral”.
Analyzing AVDX Stock Performance
During the last five days, there has been a surge of approximately 9.08%. Over the course of the year, AvidXchange Holdings Inc shares have dropped approximately -32.12%. Shares of the company reached a 52-week high of $13.56 on 02/29/24 and a 52-week low of $7.38 on 08/05/24. A 50-day SMA is recorded $7.94, while a 200-day SMA reached $10.75. Nevertheless, trading volume fell to 3.2 million shares from 2.29 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 8.26, which, if violated, would cause prices to drop to 8.12. In the upper region, resistance lies at 8.59. The next price resistance is at 8.78. RSI (Relative Strength Index) is 60.49 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.36, which suggests the price will decrease in the coming days. Percent R is at 21.26%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
