On 1/8/24, Avid Bioservices Inc (NASDAQ: CDMO) stock enjoyed a major increase of 10.5%, closing at $6.63. However, this advance was accompanied by unusually low trading volume at 63% of normal. Relative to the market the stock has been extremely weak over the last nine months and has declined -2.4% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to be below the cost of capital, CDMO is expected to be a modest Value Eraser.
Avid Bioservices has a current Value Trend Rating of F (Lowest Rating). This rating combines consistent signals from two proprietary PTR measures of a stock’s attractiveness. Avid Bioservices has a poor Appreciation Score of 16 and a very low Power Rating of 0, and the Lowest Value Trend Rating results.
Rating Review
In light of this very positive price change we are reviewing our current Overall Rating of F. This review will be completed in the next several days.
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