Videndum (LON:VID) Shares Down 22.3% – Here’s Why

Shares of Videndum Plc (LON:VID) dropped 22.3% during mid-day trading on Saturday . The company traded as low as GBX 28.30 ($0.36) and last traded at GBX 48.20 ($0.61). Approximately 6,623,770 shares were traded during trading, an increase of 1,434% from the average daily volume of 431,740 shares. The stock had previously closed at GBX 62 ($0.78).

Wall Street Analyst Weigh In

VID has been the subject of a number of research reports. Shore Capital reiterated a “hold” rating on shares of Videndum in a research report on Friday, December 13th. Jefferies Financial Group reiterated a “buy” rating and set a GBX 425 ($5.38) price target on shares of Videndum in a research report on Monday, December 16th.

Videndum Stock Performance

The stock’s 50-day moving average price is GBX 126.65 and its 200-day moving average price is GBX 229.59. The company has a debt-to-equity ratio of 77.44, a quick ratio of 0.68 and a current ratio of 1.91. The company has a market capitalization of £45.20 million, a price-to-earnings ratio of -1.28 and a beta of 1.00.

About Videndum

Videndum (formerly known as The Vitec Group plc) is a leading global provider of premium branded hardware products and software solutions to the growing content creation market.

Videndum’s customers include broadcasters, film studios, production and rental companies, photographers, independent content creators, vloggers, influencers, gamers, professional sounds crews and enterprises.