Avid Technology (NASDAQ:AVID) was downgraded by equities research analysts at Dougherty & Co from a “neutral” rating to a “sell” rating in a research note issued to investors on Thursday, The Fly reports.

A number of other research firms also recently issued reports on AVID. ValuEngine downgraded shares of Avid Technology from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Zacks Investment Research upgraded shares of Avid Technology from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a research report on Wednesday, November 15th.

Shares of Avid Technology (NASDAQ AVID) opened at $6.50 on Thursday. The company has a debt-to-equity ratio of -0.71, a current ratio of 0.65 and a quick ratio of 0.46. The company has a market cap of $278.42, a P/E ratio of 18.78 and a beta of 1.78. Avid Technology has a 12-month low of $3.99 and a 12-month high of $7.65.

A number of hedge funds have recently made changes to their positions in AVID. Tower Research Capital LLC TRC bought a new position in shares of Avid Technology in the second quarter worth about $105,000. Petrus Trust Company LTA acquired a new stake in shares of Avid Technology during the 2nd quarter worth approximately $105,000. Voya Investment Management LLC grew its position in shares of Avid Technology by 25.6% during the 2nd quarter. Voya Investment Management LLC now owns 20,703 shares of the technology company’s stock worth $109,000 after buying an additional 4,220 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Avid Technology during the third quarter valued at approximately $109,000. Finally, Trexquant Investment LP acquired a new position in Avid Technology during the third quarter valued at approximately $130,000. 71.77% of the stock is owned by hedge funds and other institutional investors.

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Avid Technology Company Profile

Avid Technology, Inc is a provider of an open and integrated technology platform, along with applications and services that enable the creation, distribution and monetization of audio and video content. The Company develops, markets, sells and supports software and hardware for digital media content production, management, secured content storage and distribution.

The Fly

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