Avid Technology (AVID) Receiving Somewhat Favorable Media Coverage, Analysis Finds

Media coverage about Avid Technology (NASDAQ:AVID) has been trending somewhat positive on Thursday, according to Accern Sentiment. The research firm identifies negative and positive media coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Avid Technology earned a media sentiment score of 0.06 on Accern’s scale. Accern also gave news headlines about the technology company an impact score of 45.0801919388936 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.

Here are some of the news headlines that may have impacted Accern’s rankings:

Several research firms have weighed in on AVID. ValuEngine lowered Avid Technology from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Zacks Investment Research raised Avid Technology from a “sell” rating to a “hold” rating in a research note on Wednesday, September 20th. Finally, Dougherty & Co downgraded Avid Technology from a “neutral” rating to a “sell” rating and set a $4.50 price target for the company. in a report on Thursday, December 7th.

Shares of Avid Technology (AVID) traded down $0.09 during trading on Thursday, hitting $6.07. The company’s stock had a trading volume of 358,500 shares, compared to its average volume of 406,154. 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 $253.71, a P/E ratio of 17.11 and a beta of 1.78. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of -0.71.

In other Avid Technology news, Director Robert M. Bakish purchased 20,000 shares of the stock in a transaction on Thursday, December 7th. The stock was bought at an average cost of $6.00 per share, for a total transaction of $120,000.00. Following the completion of the acquisition, the director now directly owns 693,058 shares of the company’s stock, valued at $4,158,348. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 7.50% of the stock is owned by corporate insiders.

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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.

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