Avidbank Holdings, Inc. (OTCMKTS:AVBH) Short Interest Down 88.9% in July

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

Wall Street Analysts Forecast Growth

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

Avidbank Price Performance

Shares of OTCMKTS:AVBH remained flat at $18.75 during midday trading on Monday. The stock had a trading volume of 1,100 shares, compared to its average volume of 5,523. The firm has a market capitalization of $146.63 million, a PE ratio of 9.01 and a beta of 0.69. The stock’s fifty day moving average is $18.76 and its 200 day moving average is $18.94. Avidbank has a 12 month low of $18.16 and a 12 month high of $22.00.

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

About Avidbank

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.