Avidbank Holdings, Inc. (OTCMKTS:AVBH) Sees Large Decline in Short Interest

Avidbank Holdings, Inc. (OTCMKTS:AVBH) was the recipient of a significant drop in short interest in the month of July. As of July 31st, there was short interest totalling 100 shares, a drop of 88.9% from the July 15th total of 900 shares. Based on an average daily trading volume, of 25,900 shares, the short-interest ratio is currently 0.0 days.

Avidbank Price Performance

AVBH remained flat at $18.75 on Monday. 1,100 shares of the company were exchanged, compared to its average volume of 5,523. The firm has a 50 day moving average of $18.76 and a two-hundred day moving average of $18.94. The stock has a market cap of $146.63 million, a P/E ratio of 9.01 and a beta of 0.69. Avidbank has a 12-month low of $18.16 and a 12-month high of $22.00.

Avidbank (OTCMKTS:AVBH) last issued its quarterly earnings results on Monday, July 22nd. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.22). The business had revenue of $37.30 million during the quarter, compared to analysts’ expectations of $20.56 million. Sell-side analysts forecast that Avidbank will post 2.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AVBH. Stephens lowered their price target on shares of Avidbank from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Tuesday, July 23rd. Piper Sandler reduced their target price on shares of Avidbank from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Friday, April 19th. Finally, Janney Montgomery Scott began coverage on shares of Avidbank in a research note on Friday, July 12th. They issued a “neutral” rating and a $21.00 price target on the stock.

Avidbank Company Profile

Avidbank Holdings, Inc operates as a bank holding company for Avidbank that provides financial products and services to businesses and individuals in the Santa Clara, San Mateo, and San Francisco counties. The company offers business and personal deposit products, such as checking, money market, and savings accounts; and certificates of deposit.