Is AvidXchange Holdings Inc (AVDX) a Stock to Watch After Gaining 2.75% This Week?

Overall market sentiment has been high on AvidXchange Holdings Inc (AVDX) stock lately. AVDX receives a Bullish rating from InvestorsObserver Stock Sentiment Indicator.

AvidXchange Holdings Inc has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on AVDX!

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What is Stock Sentiment?

Sentiment uses short term technical analysis to gauge whether a stock is desired by investors. As a technical indicator, it focuses on recent trends as opposed to the long term health of the underlying company. Updates for the company such as a earnings release can move the stock away from current trends. Recent trends are a good indicator of current market sentiments. In its most basic form, stocks that are trending up are desirable by investors while stocks currently falling must be unattractive. InvestorsObserver's Sentimental Indicator tracks both changes in price and volume to analyze the most recent trends. Typically an increase in volume indicates ongoing trends are getting stronger, while a decrease in volume usually signals an end to the current trend. Available options can also represent current sentiments for a given stock. Since investors are able to bet on future trends of stocks using options, we consider the ratio of calls to puts when analyzing market sentiments .

What's Happening With AVDX Stock Today?

AvidXchange Holdings Inc (AVDX) stock is trading at $13.45 as of 10:01 AM on Thursday, Mar 28, an increase of $0.32, or 2.44% from the previous closing price of $13.13. The stock has traded between $13.18 and $13.49 so far today. Volume today is light. So far 447,596 shares have traded compared to average volume of 2,019,860 shares.

More About AvidXchange Holdings Inc

AvidXchange Holdings, Inc. provides accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers in North America. The company offers AP automation software, a SaaS-based solution that automates and digitizes capture, review, approval, and payment of invoices for buyers; the AvidPay network that connects two-sided payments with buyers and suppliers; and Cashflow manager that provides cash management solutions. Its platform offers electronic invoice capture, workflow routing, and automated payments solutions. The company markets its solutions through direct salesforces; strategic channel partnerships; and software and technology business partners. It serves real estate, homeowners associations, construction, financial services, healthcare facilities, social services, education, and media sectors. The company was incorporated in 2000 and is headquartered in Charlotte, North Carolina. Click Here to get the full Stock Report for AvidXchange Holdings Inc stock.