Avid Technology (AVID) : Traders are bullish on Avid Technology (AVID) as it has outperformed the S&P 500 by a wide margin of 34.97% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 17.47%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 17.53% in the last 1 week, and is up 36.36% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 27.53% and the 50-Day Moving Average is 38.45%. Avid Technology (NASDAQ:AVID): stock turned positive on Friday. Though the stock opened at $8.76, the bulls momentum made the stock top out at $8.95 level for the day. The stock recorded a low of $8.58 and closed the trading day at $8.85, in the green by 1.84%. The total traded volume for the day was 921,775. The stock had closed at $8.69 in the previous days trading.
The company Insiders own 8.1% of Avid Technology shares according to the proxy statements. Institutional Investors own 87.24% of Avid Technology shares. During last six month period, the net percent change held by insiders has seen a change of 1.09%.
Avid Technology, Inc. is 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. The Companys professional video creative software and hardware products include the Media Composer product line used to edit film, television programming, news broadcasts, commercials and other video content. Video products also include Avid ISIS shared storage systems and Avid Interplay asset management solutions. The Companys audio products include Pro Tools digital audio software and workstation solutions, and a range of complementary control surfaces and consoles, including the System 5 and System 6 modular consoles, as well as the VENUE live-sound systems and Sibelius-branded notation software.