Somewhat Favorable News Coverage Somewhat Unlikely to Impact Avid Technology (NASDAQ:AVID) Share Price

Media stories about Avid Technology (NASDAQ:AVID) have been trending somewhat positive on Wednesday, according to Accern. The research group identifies negative and positive news coverage by analyzing more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Avid Technology earned a media sentiment score of 0.03 on Accern’s scale. Accern also assigned press coverage about the technology company an impact score of 45.3819874453203 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near future.

Shares of Avid Technology (AVID) traded down $0.08 on Wednesday, reaching $5.49. 222,000 shares of the company traded hands, compared to its average volume of 270,500. The company has a debt-to-equity ratio of -0.71, a current ratio of 0.65 and a quick ratio of 0.46. Avid Technology has a 12 month low of $3.99 and a 12 month high of $7.65. The company has a market capitalization of $224.05, a PE ratio of -30.50 and a beta of 1.80.

Several equities analysts have weighed in on the stock. Dougherty & Co downgraded shares of Avid Technology from a “neutral” rating to a “sell” rating and set a $4.50 price target on the stock. in a report on Thursday, December 7th. ValuEngine cut shares of Avid Technology from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Zacks Investment Research upgraded shares of Avid Technology from a “hold” rating to a “buy” rating and set a $6.00 price objective on the stock in a research report on Wednesday, November 15th.

In other news, Director Robert M. Bakish acquired 20,000 shares of the business’s stock in a transaction on Thursday, December 7th. The shares were acquired at an average price of $6.00 per share, for a total transaction of $120,000.00. Following the completion of the transaction, the director now directly owns 693,058 shares of the company’s stock, valued at approximately $4,158,348. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 7.50% of the company’s stock.

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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.

Insider Buying and Selling by Quarter for Avid Technology (NASDAQ:AVID)

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