Short Interest in Avidbank Holdings, Inc. (OTCMKTS:AVBH) Grows By 211.1%

Avidbank Holdings, Inc. (OTCMKTS:AVBH) was the target of a large growth in short interest in the month of June. As of June 30th, there was short interest totalling 2,800 shares, a growth of 211.1% from the June 15th total of 900 shares. Based on an average daily trading volume, of 3,300 shares, the days-to-cover ratio is currently 0.8 days.

Avidbank Trading Up 4.1 %

OTCMKTS AVBH traded up $0.76 during trading hours on Thursday, reaching $19.20. The company’s stock had a trading volume of 61,081 shares, compared to its average volume of 4,500. The business has a 50-day simple moving average of $18.71 and a 200 day simple moving average of $19.14. Avidbank has a 52 week low of $16.38 and a 52 week high of $22.00. The stock has a market cap of $150.14 million, a PE ratio of 9.23 and a beta of 0.69.

Avidbank (OTCMKTS:AVBH) last issued its earnings results on Wednesday, April 17th. The company reported $0.69 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.69. The business had revenue of $35.94 million during the quarter, compared to the consensus estimate of $19.84 million. As a group, equities analysts predict that Avidbank will post 2.71 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lowered their price target on Avidbank from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Friday, April 19th.

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.