Videndum (LON:VID) Trading Down 44.3% - Here's Why

Key Points

• Shares of Videndum Plc plummeted 44.3%, trading as low as GBX 57.20 ($0.76), significantly down from its previous close of GBX 106 ($1.41).
• The company reported a quarterly loss of GBX (11.20) (($0.15)) per share, indicating a negative net margin of 15.04% and a negative return on equity of 19.28%.
• Currently, Shore Capital has placed an "under review" rating on Videndum shares as they navigate market challenges.

Shares of Videndum Plc (LON:VID - Get Free Report) traded down 44.3% during mid-day trading on Wednesday . The stock traded as low as GBX 57.20 ($0.76) and last traded at GBX 59 ($0.78). 1,829,691 shares were traded during mid-day trading, an increase of 485% from the average session volume of 313,025 shares. The stock had previously closed at GBX 106 ($1.41).

Analysts Set New Price Targets

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

Videndum Stock Down 44.3%

The firm's fifty day moving average price is GBX 90.40 and its 200-day moving average price is GBX 86.16. The company has a market capitalization of £55.32 million, a price-to-earnings ratio of -1.56 and a beta of 1.00. The company has a debt-to-equity ratio of 77.44, a current ratio of 1.91 and a quick ratio of 0.68.

Videndum (LON:VID - Get Free Report) last posted 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%. Sell-side analysts expect 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.

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.