Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. AvidXchange Holdings Inc shares valued at $63,742 were sold by Stahl Ryan on Oct 16 ’24. At $8.58 per share, Stahl Ryan sold 7,427 shares. The insider’s holdings dropped to 369,603 shares worth approximately $3.05 million following the completion of this transaction.
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Also, RYAN STAHL purchased 7,427 shares, netting a total of over 62,610 in proceeds.
Before that, Stahl Ryan had sold 7,621 shares from its account. In a trade valued at $61,997, the insider traded AvidXchange Holdings Inc shares for $8.13 each. Upon closing the transaction, the insider’s holdings decreased to 7,621 shares, worth approximately $3.11 million.
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 drop of approximately -1.78%. Over the course of the year, AvidXchange Holdings Inc shares have dropped approximately -33.33%. 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 $8.01, while a 200-day SMA reached $10.67. Nevertheless, trading volume fell to 1.19 million shares from 0.77 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 8.13, which, if violated, would cause prices to drop to 8.00. In the upper region, resistance lies at 8.44. The next price resistance is at 8.62. RSI (Relative Strength Index) is 52.25 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.29, which suggests the price will decrease in the coming days. Percent R is at 40.36%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
