Avid Technology Stock Gaps Down On Today's Open (AVID)

NEW YORK ( TheStreet) -- Shares of Avid Technology (Nasdaq: AVID) were gapping down Thursday morning with an open price 15.7% lower than Wednesday's closing price. The stock closed at $10.28 Wednesday and opened today's trading at $8.67.

The average volume for Avid Technology has been 242,700 shares per day over the past 30 days. Avid Technology has a market cap of $394.6 million and is part of the technology sector and computer software & services industry. Shares are up 20.5% year to date as of the close of trading on Wednesday.

Avid Technology, Inc. provides digital media content-creation products and solutions for audio, film, video, broadcast professionals, artists, and creative enthusiasts in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa.

TheStreet Ratings rates Avid Technology as a hold. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income and good cash flow from operations. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year. You can view the full Avid Technology Ratings Report.

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