Avidbank Holdings, Inc. (OTCMKTS:AVBH) Short Interest Down 60.0% in November

Avidbank Holdings, Inc. (OTCMKTS:AVBH) was the recipient of a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 200 shares, a decrease of 60.0% from the October 31st total of 500 shares. Based on an average trading volume of 4,700 shares, the days-to-cover ratio is currently 0.0 days.

Wall Street Analyst Weigh In

Separately, Janney Montgomery Scott raised shares of Avidbank from a “neutral” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Tuesday, November 12th.

Avidbank Trading Up 0.0 %

OTCMKTS:AVBH traded up $0.01 on Friday, hitting $22.20. The company had a trading volume of 800 shares, compared to its average volume of 4,537. The firm has a 50 day moving average of $20.52 and a two-hundred day moving average of $19.52. The stock has a market capitalization of $174.74 million, a price-to-earnings ratio of 11.33 and a beta of 0.68. Avidbank has a 52 week low of $18.16 and a 52 week high of $22.23.

Avidbank (OTCMKTS:AVBH) last issued its quarterly earnings data on Monday, October 21st. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.09. The company had revenue of $38.43 million for the quarter, compared to the consensus estimate of $20.18 million. As a group, equities analysts forecast that Avidbank will post 2.71 EPS for the current year.

About Avidbank

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.