The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. AvidXchange Holdings Inc shares valued at $192,273 were sold by Wilhite Joel on Nov 15 ’24. At $10.43 per share, Wilhite Joel sold 18,439 shares. The insider’s holdings dropped to 405,815 shares worth approximately $4.41 million following the completion of this transaction.
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Also, Stahl Ryan sold 10,174 shares, netting a total of over 106,089 in proceeds. Following the sale of shares at $10.43 each, the insider now holds 386,256 shares.
Before that, Praeger Michael had sold 38,074 shares from its account. In a trade valued at $397,017, the Chief Executive Officer traded AvidXchange Holdings Inc shares for $10.43 each. Upon closing the transaction, the insider’s holdings decreased to 38,074 shares, worth approximately $113.3 million.
As published in a research note from Compass Point on November 07, 2024, AvidXchange Holdings Inc [AVDX] has been rated up from a Neutral to a Buy and the price target has been revised to $15 from $8. Analysts at Compass Point started covering the stock with ‘”a Neutral”‘ outlook in a report released in early September. As of August 20, 2024, JP Morgan has decreased its “an Overweight” rating to a “Neutral” for AVDX. Earlier on August 01, 2024, UBS downgraded its rating. Their new recommendation was “a Neutral” for AVDX stock which previously was a “a Buy”.
Analyzing AVDX Stock Performance
During the last five days, there has been a surge of approximately 1.21%. Over the course of the year, AvidXchange Holdings Inc shares have dropped approximately -12.27%. 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 $8.67, while a 200-day SMA reached $10.50. Nevertheless, trading volume fell to 1.71 million shares from 1.36 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 10.76, which, if violated, would cause prices to drop to 10.65. In the upper region, resistance lies at 10.97. The next price resistance is at 11.07. RSI (Relative Strength Index) is 78.46 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.56, which suggests the price will decrease in the coming days. Percent R is at 3.24%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
