Avid Technology (NASDAQ:AVID) was downgraded by equities research analysts at Dougherty & Co from a “neutral” rating to a “sell” rating in a research note issued on Thursday.

Several other research firms also recently weighed in on AVID. ValuEngine downgraded shares of Avid Technology from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Zacks Investment Research upgraded shares of Avid Technology from a “hold” rating to a “buy” rating and set a $6.00 price objective for the company in a report on Wednesday, November 15th.

Shares of Avid Technology (NASDAQ:AVID) opened at $6.50 on Thursday. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of -0.71. The company has a market cap of $278.42, a price-to-earnings ratio of 18.78 and a beta of 1.78. Avid Technology has a twelve month low of $3.99 and a twelve month high of $7.65.

A number of institutional investors and hedge funds have recently modified their holdings of AVID. Tower Research Capital LLC TRC purchased a new stake in shares of Avid Technology during the second quarter worth about $105,000. Petrus Trust Company LTA acquired a new position in Avid Technology in the second quarter valued at approximately $105,000. Voya Investment Management LLC raised its stake in shares of Avid Technology by 25.6% during the 2nd quarter. Voya Investment Management LLC now owns 20,703 shares of the technology company’s stock worth $109,000 after buying an additional 4,220 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Avid Technology during the third quarter worth approximately $109,000. Finally, Alliancebernstein L.P. purchased a new stake in shares of Avid Technology during the second quarter worth approximately $140,000. Institutional investors own 71.77% of the company’s stock.

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About Avid Technology

Avid Technology, Inc is a provider of an open and integrated technology platform, along with applications and services that enable the creation, distribution and monetization of audio and video content. The Company develops, markets, sells and supports software and hardware for digital media content production, management, secured content storage and distribution.

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