Audinate Group (AD8: $A7.28) up 4.1% in 2 days; +16c [2.2%]
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Audinate Group Limited (ASX:AD8 $A7.28), stock price extended its gains on Thursday, rising an additional 16.0c (2.2%) to trade at $A7.28 at 11:35 am, Sydney time Thursday. The shares have climbed 29.0c (4.1%) over the past two trading days; compared with the All Ordinaries Index which rose 92.2 points (1.1%) in the two days for a relative price increase of 3.1%.
There were 50,780 shares worth $A369,678 traded so far today. The volume was close to average trading.
Audinate Group Limited is Australia's 4th largest Technology hardware & equipment company by market cap.
RECAP OF WEDNESDAY'S BULLISH SIGNALS
Relative Value Indicators: Undervaluation compared with Index averages and bond yield - Earnings yield of 1.8% is more attractive compared with the Australian average earning yield of 1.7%. - The earnings yield of 1.8% is below the 10-year bond yield of 4.3%. (All figures in %)
Uptrend Positive MACD: - The Moving Average Convergence Divergence (MACD) indicator of 12-day Exponential Moving Average (EMA) of 7.35 minus the 26-day EMA of 7.06 is positive, suggesting a bullish signal.
Past Month: - Rises to Falls: In the past month the number of rises outnumbered falls 13:8 or 1.6:1.
Past Quarter:
The Best 3 weeks in the past quarter The past month witnessed the best 3 weeks in the past quarter. In the past quarter the week beginning Monday May 12 saw the highest weekly rise of 15.3% for a relative price increase of 14%.
Mon-Fri
Change %
All Ordinaries Index Change %
Vol Ind [1 is avg]
May 12-16
15.3
1.4
0.7
May 26-30
6.7
0.9
0.5
May 19-23
4.3
0.1
0.5
Other Bullish Signals - Interest cover defined by EBIT/I is 77.5 times. This indicates it is less leveraged. MCap/Total Assets: - The company is cash rich with Cash to Market Capitalisation at 11.7%.
Oversold/Bullish Signals: - The stock is oversold according to the Williams % R indicator of -83.8, suggesting the price is close to its 14-day low of $A6.95.
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.