ValuEngine upgraded shares of Avid Technology, Inc. (NASDAQ:AVID) from a hold rating to a buy rating in a research report released on Tuesday.

Separately, Zacks Investment Research cut Avid Technology from a hold rating to a sell rating in a research report on Friday, August 11th.

Shares of Avid Technology (NASDAQ:AVID) opened at $7.05 on Tuesday. Avid Technology has a 1 year low of $3.99 and a 1 year high of $7.21. The company has a debt-to-equity ratio of -0.71, a quick ratio of 0.46 and a current ratio of 0.65. The firm has a market capitalization of $290.36, a P/E ratio of 19.58 and a beta of 1.57.

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Several institutional investors and hedge funds have recently bought and sold shares of AVID. Petrus Trust Company LTA acquired a new stake in shares of Avid Technology in the 2nd quarter valued at approximately $105,000. Tower Research Capital LLC TRC acquired a new stake in shares of Avid Technology in the 2nd quarter valued at approximately $105,000. Voya Investment Management LLC lifted its holdings in shares of Avid Technology by 25.6% in the 2nd 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 period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Avid Technology in the 3rd quarter valued at approximately $109,000. Finally, Trexquant Investment LP acquired a new stake in shares of Avid Technology in the 3rd quarter valued at approximately $130,000. 72.38% of the stock is owned by institutional investors and hedge funds.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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