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 $483,297 were sold by Praeger Michael on Dec 02 ’24. At $11.40 per share, Praeger Michael sold 42,377 shares. The insider’s holdings dropped to 10,381,033 shares worth approximately $118.97 million following the completion of this transaction.
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Also, Gibson Angelic sold 30,000 shares, netting a total of over 342,300 in proceeds. Following the sale of shares at $11.41 each, the insider now holds 411,466 shares.
Before that, Michael S. Praeger had added 42,377 shares to its account. In a trade valued at $481,826, the Officer bought AvidXchange Holdings Inc shares for $11.37 each.
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
Over the course of the year, AvidXchange Holdings Inc shares have dropped approximately -7.51%. 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 $9.24, while a 200-day SMA reached $10.47. Nevertheless, trading volume fell to 2.18 million shares from 2.58 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 11.30, which, if violated, would cause prices to drop to 11.14. In the upper region, resistance lies at 11.61. The next price resistance is at 11.76. RSI (Relative Strength Index) is 76.40 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.30, which suggests the price will decrease in the coming days. Percent R is at 11.77%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
