Avid Technology Inc. (AVID) Moves Lower on Volume Spike for March 16

Equities Staff  |

Avid Technology Inc. (AVID) traded on unusually high volume on Mar. 16, as the stock lost 7.21% to close at $4.83. On the day, Avid Technology Inc. saw 790,425 shares trade hands on 4,301 trades. Considering that the stock averages only a daily volume of 219,895 shares a day over the last month, this represents a pretty significant bump in volume over the norm.

Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.

The stock has traded between $7.65 and $3.99 over the last 52-weeks, its 50-day SMA is now $5.18, and its 200-day SMA $5.08. Avid Technology Inc. has a P/B ratio of -0.73.

Avid Technology Inc is a provider of technology solutions. Its products enable the creation and monetization of audio and video content for digital media content production.

Headquartered in Burlington, MA, Avid Technology Inc. has 1,591 employees and is currently under the leadership of CEO Jeff Rosica.

For a complete fundamental analysis analysis of Avid Technology Inc., check out Equities.com’s Stock Valuation Analysis report for AVID.

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To get more information on Avid Technology Inc. and to follow the company’s latest updates, you can visit the company’s profile page here: AVID’s Profile. For more news on the financial markets and emerging growth companies, be sure to visit Equities.com’s Newsdesk. Also, don’t forget to sign-up for our daily email newsletter to ensure you don’t miss out on any of our best stories.

All data provided by QuoteMedia and was accurate as of 4:30PM ET.



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