Videndum (LON:VID) Stock Price Down 40% - Here's What Happened

Key Points

• Videndum Plc shares plummeted by 40% to a low of GBX 60 ($0.80) during Wednesday's trading, marking a significant decrease from the previous close of GBX 106 ($1.41).
• Approximately 1.5 million shares were traded on Wednesday, which is a 383% increase from the average daily volume, indicating heightened market activity.
• Shore Capital has issued an "under review" rating for Videndum, reflecting uncertainty about the company's future performance.

Videndum Plc (LON:VID - Get Free Report) traded down 40% during trading on Wednesday . The company traded as low as GBX 60 ($0.81) and last traded at GBX 63.65 ($0.86). 1,502,874 shares changed hands during trading, an increase of 383% from the average session volume of 310,861 shares. The stock had previously closed at GBX 106 ($1.43).

Analyst Upgrades and Downgrades

Separately, Shore Capital reiterated an "under review" rating on shares of Videndum in a research note on Wednesday.

Videndum Trading Down 14.5%

The stock has a market cap of £43.13 million, a PE ratio of -1.22 and a beta of 1.00. The company has a debt-to-equity ratio of 77.44, a quick ratio of 0.68 and a current ratio of 1.91. The company has a 50 day moving average of GBX 89.03 and a two-hundred day moving average of GBX 84.88.

Videndum (LON:VID - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported GBX (11.20) (($0.15)) earnings per share for the quarter. Videndum had a negative return on equity of 19.28% and a negative net margin of 15.04%. Sell-side analysts anticipate that Videndum Plc will post 25.9978425 earnings per share for the current fiscal year.

About Videndum

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.