Audinate Group (AD8: $A6.12) in 4th consecutive fall; -3c [-0.5%]
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Audinate Group Limited (ASX:AD8 $A6.12), stock price slipped further on Friday, sliding an additional 3.0c (0.5%) to trade at $A6.12 at 11:35 am, Sydney time Friday.
This brought its 4-day fall to 4.1%; compared with the All Ordinaries Index which fell 41.4 points (0.5%) in the four days for a relative price change of -3.6%.
There were 19,530 shares worth $A119,524 traded so far today. The volume was 0.2 times the average trading volume of 79,426 shares since open at 10:00 am.
Audinate Group Limited is Australia's 4th largest Technology hardware & equipment company by market cap.
RECAP OF THURSDAY'S BEARISH SIGNALS
PAST WEEK: WEAK MOMENTUM DOWN AD8 dips 1.6% on weak volume 0.6 times average. Compared with the All Ordinaries Index which rose 19.6 points (or 0.2%) in the week, the relative price change was -1.8%.
The price ranged between a low of $A6.15 on Thursday Jul 31 and a high of $A6.38 on Monday Jul 28.
Short Selling + In the Australian Short Selling market of 1254 stocks, short selling (on ASX and CHI-X) as a % of issued shares ranked 31st and within the top quartile of stocks. This means it was higher than market average of 0.18%, a bearish indicator. + The current short volume is 1.6 times its own historical average of 0.1%.
Downtrend The stock traded at a four-month low of $A5.96 today. Price/Moving Average Price of 0.95 and negative MACD:
- The Price/MAP 200 for Audinate Group is 0.95. Being less than 1 is a bearish indicator. It is lower than the Price/MAP 200 for the All Ordinaries Index of 1.06, a second bearish indicator. The 200-day MAP has decreased to $A6.48, a third bearish indicator. - The Moving Average Convergence Divergence (MACD) indicator of 12-day Exponential Moving Average (EMA) of 6.36 minus the 26-day EMA of 6.55 is negative, suggesting a bearish signal. Both the 12-day EMA as well as the 26-day EMA are falling, another bearish signal. - The price to 50-day EMAP ratio is 0.9, a bearish indicator. In the past 50 days this ratio has been under 0.9 just twice suggesting a support level. The 50-day EMAP has decreased to $A6.71. A decrease is another bearish indicator.
Past Month: - Falls to Rises: In the past month the number of falls outnumbered rises 14:9 or 1.6:1. - Audinate Group stock was the eleventh lowest performer in the All Ordinaries Index.
Past Quarter:
The Worst 3 weeks in the past quarter The past month witnessed the worst 2 weeks in the past quarter. In the past quarter the steepest fall of 10.1% took place in the week beginning Monday June 02.
Mon-Fri
Change %
All Ordinaries Index Change %
Vol Ind [1 is avg]
Jun 02-06
-10.1
0.9
0.4
Jun 30-Jul 04
-8.1
1.1
0.5
Jul 21-25
-7.2
-0.8
0.6
Trailing Relative Strength (6 months) at 23 percentile:
- The stock has a 6-month relative strength of 23 in the Australian market of 1,439 stocks indicating it is trailing 77% of the market.
Other Bearish Signals - Total Liabilities/EBITDA of 275.2 is more than 5, this compares unfavourably with the Joseph Piotroski benchmark of 5. MCap/Total Assets: - Tobin's Q Ratio, defined as MCap divided by Total Assets, is 2.7. Compared with the rest of the market the stock is overvalued and ranks in the bottom quartile of stocks by value of Q Ratio. - Net profit margin has averaged 5.6% in the last 3 years. This is lower than the sector average of 5.9% and suggests a low margin of safety.
Activities Audinate Group Limited is an Australia-based developer of Dante audio over IP networking solution. The Company's principal activity is the development and sale of digital audiovisual (AV) networking solutions. Dante is its technology platform that distributes digital audio and video signals over computer networks. Dante comprises software and chips, cards and modules that are sold to and integrated inside the AV products of its original equipment manufacturer (OEM) customers. The Company also provides a series of products and services to AV professionals, including AVIO adapters and management and control software. Its Dante IP networking solution is used extensively in the professional live sound, commercial installation, broadcast, public address, and recording industries. Dante replaces traditional analogue cables by transmitting synchronized AV signals across large distances to multiple locations at once, using nothing more than an ethernet cable.
It is Australia's 5th largest Technology hardware & equipment company by market capitalisation.