Videndum (LON:VID) Stock Price Down 41.7% - Here's What Happened

Key Points

• Videndum's stock price dropped sharply by 41.7% during mid-day trading, reaching a low of GBX 57.20 ($0.76) from a previous close of GBX 106 ($1.41).
• The company reported a quarterly earnings loss of GBX (11.20) (($0.15)) per share and has a negative net margin of 15.04%.
• Analysts have given the stock an "under review" rating, indicating uncertainty about its future performance amidst these financial challenges.

Videndum Plc (LON:VID - Get Free Report) traded down 41.7% during mid-day trading on Wednesday . The company traded as low as GBX 57.20 ($0.76) and last traded at GBX 61.80 ($0.82). 2,011,021 shares traded hands during mid-day trading, an increase of 540% from the average session volume of 314,226 shares. The stock had previously closed at GBX 106 ($1.41).

Analysts Set New Price Targets

Separately, Shore Capital restated an "under review" rating on shares of Videndum in a report on Wednesday.

Videndum Trading Down 41.7%

The stock has a market cap of £57.95 million, a P/E ratio of -1.64 and a beta of 1.00. The company has a current ratio of 1.91, a quick ratio of 0.68 and a debt-to-equity ratio of 77.44. The company has a 50-day moving average price of GBX 90.40 and a two-hundred day moving average price of GBX 86.16.

Videndum (LON:VID - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported GBX (11.20) (($0.15)) earnings per share for the quarter. Videndum had a negative net margin of 15.04% and a negative return on equity of 19.28%. On average, research analysts expect that Videndum Plc will post 25.9978425 EPS 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.