Avid Technology (AVID) Receiving Somewhat Favorable Press Coverage, Report Finds

Headlines about Avid Technology (NASDAQ:AVID) have trended somewhat positive on Saturday, according to Accern Sentiment. The research firm identifies negative and positive media 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 nearest to one being the most favorable. Avid Technology earned a daily sentiment score of 0.15 on Accern’s scale. Accern also assigned headlines about the technology company an impact score of 45.1830596849429 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the near term.

Here are some of the media stories that may have effected Accern Sentiment’s analysis:

Shares of Avid Technology (NASDAQ:AVID) traded down $0.12 during midday trading on Friday, reaching $4.84. 217,642 shares of the company were exchanged, compared to its average volume of 303,334. Avid Technology has a one year low of $3.99 and a one year high of $7.65. The stock has a market cap of $204.28, a PE ratio of -26.89 and a beta of 1.80. The company has a debt-to-equity ratio of -0.71, a quick ratio of 0.46 and a current ratio of 0.65.

A number of brokerages recently issued reports on AVID. ValuEngine raised shares of Avid Technology from a “hold” rating to a “buy” rating in a research report on Saturday, February 3rd. Zacks Investment Research cut shares of Avid Technology from a “buy” rating to a “hold” rating in a research report on Friday, January 12th. Finally, Dougherty & Co cut shares of Avid Technology from a “neutral” rating to a “sell” rating and set a $4.50 price target for the company. in a research report on Thursday, December 7th.

In other Avid Technology news, Director Robert M. Bakish purchased 20,000 shares of the stock in a transaction that occurred on Tuesday, December 5th. The stock was bought at an average cost of $6.69 per share, with a total value of $133,800.00. Following the transaction, the director now directly owns 693,058 shares in the company, valued at approximately $4,636,558.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company 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.

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