Shares of Avid Technology, Inc. (NASDAQ:AVID) have earned a consensus broker rating score of 3.00 (Hold) from the two brokers that cover the company, Zacks Investment Research reports. Two research analysts have rated the stock with a hold rating.
Analysts have set a 1-year consensus price objective of $5.00 for the company and are forecasting that the company will post $0.14 earnings per share for the current quarter, according to Zacks. Zacks has also given Avid Technology an industry rank of 119 out of 265 based on the ratings given to its competitors.
AVID has been the subject of a number of research analyst reports. Zacks Investment Research downgraded Avid Technology from a “hold” rating to a “sell” rating in a report on Friday, August 11th. ValuEngine downgraded Avid Technology from a “buy” rating to a “hold” rating in a report on Friday, September 1st.
Large investors have recently made changes to their positions in the stock. Petrus Trust Company LTA purchased a new position in shares of Avid Technology during the second quarter valued at approximately $105,000. Tower Research Capital LLC TRC purchased a new position in shares of Avid Technology during the second quarter valued at approximately $105,000. Voya Investment Management LLC boosted its position in shares of Avid Technology by 25.6% during the second quarter. Voya Investment Management LLC now owns 20,703 shares of the technology company’s stock valued at $109,000 after buying an additional 4,220 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Avid Technology in the third quarter worth $109,000. Finally, Trexquant Investment LP purchased a new position in Avid Technology in the third quarter worth $130,000.
Avid Technology (AVID) traded up $0.01 during trading on Tuesday, hitting $5.11. The company had a trading volume of 511,900 shares, compared to its average volume of 362,717. Avid Technology has a one year low of $3.99 and a one year high of $6.07.
About Avid Technology
Avid Technology, Inc is a provider of an open and integrated technology platform, along with applications and services that enable the creation, distribution and monetization of audio and video content. The Company develops, markets, sells and supports software and hardware for digital media content production, management, secured content storage and distribution.
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