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 November. As of November 30th, there was short interest totalling 100 shares, a drop of 50.0% from the November 15th total of 200 shares. Based on an average daily trading volume, of 4,900 shares, the short-interest ratio is currently 0.0 days.

Avidbank Stock Performance

Avidbank stock opened at $21.82 on Friday. The company’s 50 day simple moving average is $20.98 and its 200-day simple moving average is $19.73. The company has a market capitalization of $172.51 million, a price-to-earnings ratio of 11.13 and a beta of 0.69. Avidbank has a 1 year low of $18.16 and a 1 year high of $22.49.

Avidbank (OTCMKTS:AVBH) last announced its quarterly earnings data on Monday, October 21st. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.09. The business had revenue of $38.43 million during the quarter, compared to analyst estimates of $20.18 million. Equities analysts expect that Avidbank will post 2.71 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Janney Montgomery Scott raised shares of Avidbank from a “neutral” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Tuesday, November 12th.

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.