Stock Rating Downgrade
Reflecting eroding fundamentals and low Appreciation Potential, the Value Trend Rating for Avid Bioservices Inc (NASDAQ: CDMO) weakened of late. CDMO’s current Value Trend Rating is D and the prior Rating was C. Details supporting this lower rating are included in our next report.
Recent Price Action
Avid Bioservices Inc (NASDAQ: CDMO) stock closed at $10.53 on 8/9/24 after a slight decline of -0.4%. However, this decline was accompanied by exceptionally low trading volume at 31% of normal. The stock has risen 0.6% during the last week and has been exceptionally strong relative to the market over the last nine months.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to fall short of the cost of capital, CDMO is expected to be a modest Value Eraser.
Avid Bioservices has a current Value Trend Rating of D (Negative). The Value Trend Rating reflects very contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Avid Bioservices has a very low Appreciation Score of 3 but a good Power Rating of 80, with the Negative Value Trend Rating the result.
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