Avidbank Holdings Inc. (NASDAQ:AVBH) Sees Large Increase in Short Interest

Key Points

• Avidbank Holdings Inc. experienced a significant increase in short interest, rising by 703.8% from 10,600 shares to 85,200 shares as of September 30th.
• The stock opened at $24.86 with a market cap of $271.97 million and has a 1-year range between $19.50 and $26.59.
• Analysts have a generally positive outlook, with an average target price of $31.25 and multiple upgrades including ratings of "buy" and "overweight."

Avidbank Holdings Inc. (NASDAQ:AVBH - Get Free Report) was the target of a large growth in short interest during the month of September. As of September 30th, there was short interest totaling 85,200 shares, a growth of 703.8% from the September 15th total of 10,600 shares. Based on an average daily volume of 40,800 shares, the short-interest ratio is presently 2.1 days. Approximately 1.2% of the shares of the company are short sold. Approximately 1.2% of the shares of the company are short sold. Based on an average daily volume of 40,800 shares, the short-interest ratio is presently 2.1 days.

Avidbank Stock Performance

AVBH opened at $24.86 on Friday. The company has a market cap of $271.97 million, a PE ratio of 8.10 and a beta of 0.58. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.11. Avidbank has a 1 year low of $19.50 and a 1 year high of $26.59.

Avidbank (NASDAQ:AVBH - Get Free Report) last issued its earnings results on Monday, August 25th. The company reported $0.75 EPS for the quarter, hitting the consensus estimate of $0.75. Avidbank had a return on equity of 11.51% and a net margin of 15.89%.The firm had revenue of $21.83 million during the quarter.

Analysts Set New Price Targets

Several research analysts have commented on the company. Piper Sandler assumed coverage on Avidbank in a research report on Tuesday, September 2nd. They issued an "overweight" rating and a $31.00 price target on the stock. Wall Street Zen upgraded shares of Avidbank to a "hold" rating in a research note on Saturday, September 20th. DA Davidson upped their target price on shares of Avidbank from $27.00 to $31.50 and gave the company a "buy" rating in a research note on Tuesday, September 2nd. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Avidbank in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Avidbank currently has an average rating of "Buy" and an average target price of $31.25.

About Avidbank

Avidbank Holdings, Inc operates as a bank holding company for Avidbank that provides financial products and services to small and middle-market businesses, professionals, and individuals in the Santa Clara, San Mateo, and San Francisco counties. It offers business and personal deposit products, such as checking, money market, and savings accounts; and certificates of deposit.

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