Short Interest in Avidbank Holdings, Inc. (OTCMKTS:AVBH) Decreases By 60.0%

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

Avidbank Stock Performance

AVBH traded up $0.01 during midday trading on Friday, hitting $22.20. The company had a trading volume of 800 shares, compared to its average volume of 4,537. Avidbank has a twelve month low of $18.16 and a twelve month high of $22.23. The company has a market capitalization of $174.74 million, a PE ratio of 11.33 and a beta of 0.68. The firm’s 50-day simple moving average is $20.52 and its 200-day simple moving average is $19.52.

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

Analyst Upgrades and Downgrades

Separately, Janney Montgomery Scott upgraded shares of Avidbank from a “neutral” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Tuesday, November 12th.

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.