Videndum (LON:VID) Trading Down 22.3% – Here’s What Happened

Videndum Plc (LON:VID) shares were down 22.3% during trading on Friday . The company traded as low as GBX 28.30 ($0.36) and last traded at GBX 48.20 ($0.61). Approximately 6,623,770 shares traded hands during mid-day trading, an increase of 1,434% from the average daily volume of 431,740 shares. The stock had previously closed at GBX 62 ($0.79).

Analysts Set New Price Targets

A number of brokerages recently weighed in on VID. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 425 ($5.39) target price on shares of Videndum in a research note on Monday, December 16th. Shore Capital reissued a “hold” rating on shares of Videndum in a report on Friday, December 13th.

Videndum Price Performance

The company’s fifty day moving average price is GBX 130.88 and its 200 day moving average price is GBX 232.17. The company has a market capitalization of £45.20 million, a P/E ratio of -1.28 and a beta of 1.00. The company has a quick ratio of 0.68, a current ratio of 1.91 and a debt-to-equity ratio of 77.44.

Videndum Company Profile

Videndum (formerly known as The Vitec Group plc) is a leading global provider of premium branded hardware products and software solutions to the growing content creation market.

Videndum’s customers include broadcasters, film studios, production and rental companies, photographers, independent content creators, vloggers, influencers, gamers, professional sounds crews and enterprises.