Avid Technology, Inc. (NASDAQ:AVID)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $6.15 and last traded at $5.29, with a volume of 946000 shares. The stock had previously closed at $5.11.

A number of equities analysts recently commented on the stock. Zacks Investment Research raised shares of Avid Technology from a “hold” rating to a “buy” rating and set a $6.00 price target on the stock in a research report on Wednesday. ValuEngine lowered shares of Avid Technology from a “buy” rating to a “hold” rating in a research report on Friday, September 1st.

The stock has a market capitalization of $250.00, a PE ratio of 16.86 and a beta of 1.57. The company has a debt-to-equity ratio of -0.71, a current ratio of 0.65 and a quick ratio of 0.46.

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Avid Technology by 1.5% during the first quarter. Vanguard Group Inc. now owns 2,373,218 shares of the technology company’s stock worth $11,059,000 after acquiring an additional 35,225 shares during the period. Nomura Holdings Inc. bought a new position in Avid Technology during the second quarter worth about $470,000. S Squared Technology LLC bought a new position in Avid Technology during the second quarter worth about $1,262,000. AQR Capital Management LLC increased its position in Avid Technology by 30.3% during the first quarter. AQR Capital Management LLC now owns 415,179 shares of the technology company’s stock worth $1,934,000 after acquiring an additional 96,664 shares during the period. Finally, Cove Street Capital LLC grew its stake in Avid Technology by 9.2% during the second quarter. Cove Street Capital LLC now owns 6,105,539 shares of the technology company’s stock worth $32,115,000 after buying an additional 513,877 shares in the last quarter. 72.11% of the stock is currently owned by institutional investors and hedge funds.

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Avid Technology Company Profile

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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