Avidbank Holdings, Inc. (OTCMKTS:AVBH) Short Interest Down 30.8% in June

Avidbank Holdings, Inc. (OTCMKTS:AVBH) was the target of a large decline in short interest in June. As of June 15th, there was short interest totalling 900 shares, a decline of 30.8% from the May 31st total of 1,300 shares. Based on an average daily volume of 5,100 shares, the days-to-cover ratio is currently 0.2 days.

Analyst Ratings Changes

Separately, Piper Sandler decreased their price target 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.

Avidbank Trading Down 0.1 %

Shares of OTCMKTS:AVBH traded down $0.01 during midday trading on Friday, reaching $18.44. The company had a trading volume of 2,750 shares, compared to its average volume of 1,896. The company’s 50 day moving average price is $18.83 and its 200 day moving average price is $19.34. The stock has a market cap of $144.20 million, a P/E ratio of 8.87 and a beta of 0.67. Avidbank has a 52-week low of $16.01 and a 52-week high of $22.00.

Avidbank (OTCMKTS:AVBH) last released its quarterly earnings data on Wednesday, April 17th. The company reported $0.69 EPS for the quarter, meeting the consensus estimate of $0.69. The business had revenue of $35.94 million for the quarter, compared to analysts’ expectations of $19.84 million. Research 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.