Avid Technology, Inc. (AVID) Hits New 52-Week High at $6.59
Shares of Avid Technology, Inc. (NASDAQ:AVID) hit a new 52-week high on Tuesday . The stock traded as high as $6.59 and last traded at $6.40, with a volume of 826800 shares changing hands. The stock had previously closed at $5.92.
A number of analysts have recently commented on the company. Zacks Investment Research downgraded Avid Technology from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. ValuEngine downgraded Avid Technology from a “buy” rating to a “hold” rating in a research note on Friday, September 1st.
The company has a market capitalization of $271.42, a PE ratio of 18.31 and a beta of 1.57. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of -0.71.
Institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC acquired a new stake in shares of Avid Technology during the second quarter worth $105,000. Petrus Trust Company LTA acquired a new stake in shares of Avid Technology during the second quarter worth $105,000. Voya Investment Management LLC raised 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 worth $109,000 after purchasing an additional 4,220 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Avid Technology during the third quarter worth $109,000. Finally, Alliancebernstein L.P. acquired a new stake in shares of Avid Technology during the second quarter worth $140,000. 72.38% of the stock is currently owned by institutional investors.
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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