Short Interest in Avidbank Holdings, Inc. (OTCMKTS:AVBH) Declines By 60.0%

Avidbank Holdings, Inc. (OTCMKTS:AVBH) was the recipient of a significant decrease in short interest in November. As of November 15th, there was short interest totalling 200 shares, a decrease of 60.0% from the October 31st total of 500 shares. Based on an average trading volume of 4,700 shares, the days-to-cover ratio is presently 0.0 days.

Avidbank Stock Performance

Avidbank stock opened at $22.20 on Thursday. The firm has a market capitalization of $174.74 million, a price-to-earnings ratio of 11.33 and a beta of 0.68. Avidbank has a fifty-two week low of $18.16 and a fifty-two week high of $22.23. The stock’s fifty day moving average is $20.47 and its two-hundred day moving average is $19.50.

Avidbank (OTCMKTS:AVBH) last posted its earnings results on Monday, October 21st. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.09. The firm had revenue of $38.43 million during the quarter, compared to analyst estimates of $20.18 million. As a group, sell-side analysts forecast that Avidbank will post 2.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Janney Montgomery Scott upgraded Avidbank from a “neutral” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Tuesday, November 12th.

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.