Avid Technology, Inc. (AVID) Rating Increased to Hold at Zacks Investment Research

Avid Technology, Inc. (OTCMKTS:AVID) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.

According to Zacks, “Avid Technology, Inc. develops, markets, sells and supports a wide range of software and systems for creating and manipulating digital media content. Digital media are media elements, whether video or audio or graphics, in which the image, sound or picture is recorded and stored as digital values, as opposed to analog signals. The company’s systems are designed to improve the productivity of video and film editors by enabling them to edit moving pictures and sound in a faster, easier, and more cost-effective manner than traditional analog tape-based systems. “

Separately, ValuEngine lowered shares of Avid Technology from a “buy” rating to a “hold” rating in a report on Friday, September 1st.

Avid Technology (OTCMKTS AVID) traded up 0.22% during trading on Tuesday, reaching $4.57. The company had a trading volume of 181,199 shares. The company has a market capitalization of $187.96 million and a PE ratio of 117.18. The stock has a 50 day moving average price of $4.48 and a 200-day moving average price of $4.92. Avid Technology has a 52-week low of $3.99 and a 52-week high of $7.56.

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Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC bought a new stake in shares of Avid Technology in the 2nd quarter worth about $105,000. Petrus Trust Company LTA bought a new stake in shares of Avid Technology in the 2nd quarter worth about $105,000. Voya Investment Management LLC increased its position in shares of Avid Technology by 25.6% in the 2nd quarter. Voya Investment Management LLC now owns 20,703 shares of the technology company’s stock worth $109,000 after purchasing an additional 4,220 shares during the last quarter. Alliancebernstein L.P. bought a new stake in shares of Avid Technology in the 2nd quarter worth about $140,000. Finally, Goldman Sachs Group Inc. bought a new stake in shares of Avid Technology in the 1st quarter worth about $133,000.

Avid Technology Company Profile

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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