Avid Bioservices (CDMO, $15.96) beats fiscal Q1 expectations
Avid Bioservices posted adjusted earnings of $0.04 per share for the quarter ending July 2022, exceeding the Zacks Consensus Estimate of $0.03 per share. Earnings were $0.10 per share in the year-ago quarter.
Revenues of $36.69 million for the quarter also topped the Zacks Consensus Estimate by 7.92%. The figure is also higher than year-ago period’s $30.75 million.
The current consensus EPS expectation is $0.02 on $31 million in revenues for the coming quarter, and $0.07 on $140 million in revenues for the current fiscal year. (as reported by Zacks Equity Research).
CDMO's RSI Indicator climbs out of oversold territory
The RSI Oscillator for CDMO moved out of oversold territory on November 28, 2023. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 26 similar instances when the indicator left oversold territory. In of the 26 cases the stock moved higher. This puts the odds of a move higher at .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 55 cases where CDMO's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for CDMO just turned positive on November 14, 2023. Looking at past instances where CDMO's MACD turned positive, the stock continued to rise in of 41 cases over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where CDMO advanced for three days, in of 296 cases, the price rose further within the following month. The odds of a continued upward trend are .
CDMO may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on November 27, 2023. You may want to consider selling the stock, shorting the stock, or exploring put options on CDMO as a result. In of 93 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where CDMO declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Aroon Indicator for CDMO entered a downward trend on November 29, 2023. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating slightly better than average sales and a considerably profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating slightly worse than average price growth. CDMO’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.606) is normal, around the industry mean (20.645). CDMO has a moderately high P/E Ratio (1250.000) as compared to the industry average of (137.274). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (7.704). Dividend Yield (0.000) settles around the average of (0.035) among similar stocks. P/S Ratio (2.054) is also within normal values, averaging (329.009).
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. CDMO’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 95, placing this stock worse than average.
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Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
Engages in the developing and manufacturing of monoclonal antibody therapeutics
Industry Biotechnology
CDMO and
Correlation & Price change
A.I.dvisor indicates that over the last year, CDMO has been loosely correlated with AXON. These tickers have moved in lockstep 49% of the time. This A.I.-generated data suggests there is some statistical probability that if CDMO jumps, then AXON could also see price increases.
| Ticker / NAME | Correlation To CDMO | 1D Price Change % | ||
|---|---|---|---|---|
| CDMO | 100% | -1.87% | ||
| AXON - CDMO | 49% Loosely correlated | +0.71% | ||
| MDGL - CDMO | 48% Loosely correlated | +4.83% | ||
| ORMP - CDMO | 44% Loosely correlated | -4.05% | ||
| NTLA - CDMO | 43% Loosely correlated | +4.08% | ||
| BEAM - CDMO | 42% Loosely correlated | +5.31% | ||
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