Novan, Inc. (NASDAQ:NOVN)’s traded shares stood at 1,791,598 during the last session, with the company’s beta value hitting -0.2. At the close of trading, the stock’s price was $0.48, to imply a decline of -1.07% or -$0.01 in intraday trading. The NOVN share’s 52-week high remains $3.72, putting it -675% down since that peak but still an impressive +55.21% since price per share fell to its 52-week low of $0.215. The company has a valuation of $67.97 Million, with an average of 4.03 Million shares in intraday trading volume over the past 10 days and average of 8.75 Million shares over the past 3 months.
Analysts have given a consensus recommendation of Buy for Novan, Inc. (NOVN), translating to a mean rating of 2. Of 1 analyst(s) looking at the stock, none analyst(s) give NOVN a Sell rating. None of those analysts rate the stock as Overweight while no one advise Hold as 1 recommend it as a Buy. None analyst(s) have given it an Underweight rating. Estimates put the company’s earnings per share at -$0.06.
Novan, Inc. (NASDAQ:NOVN) trade information
After registering a -1.07% downside on the day, Novan, Inc. (NOVN) has traded red over the past five days. The stock hit a weekly high of $0.5115 this Monday, Nov 16, jumping 5.67% in its intraday price action. The 5-day price performance for the stock is -4.42%, and -6.42% over 30 days. Despite these dips, the year-to-date price performance is -84.73%. Short interest in Novan, Inc. (NASDAQ:NOVN) saw shorts transact 5.52 Million shares and set a 0.63 days time to cover.
Analysts on Wall Street suggest a consensus price target of $3, implying an increase of 525% to the stock’s current value. The extremes give us $1.5 and $4.5 for target low and target high price respectively. As such, NOVN is trading +837.5% off suggested target high and 212.5% from its likely low.
Novan, Inc. (NOVN) estimates and forecasts
Forecast revenue for the current quarter as set by 2 analysts is $1.24 Million. Meanwhile, for the quarter ending March 01, 2021, a total of 1 analyst(s) estimate revenue growth to $1.1 Million. Earnings reports from the last fiscal year show that sales brought in $1.38 Million for this quarter and $1.21 Million the next quarter. In this case, analysts estimate current quarter sales to dip -10.1% before falling -9.3% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings fell an estimated -5.9% for the past 5-year period. While 2020 is set for a -137.6% return in earnings, projections for the next 5 years are at 0% annually.
Novan, Inc. (NASDAQ:NOVN)’s Major holders
Novan, Inc. insiders hold 8.94% of total outstanding shares, with institutional holders owning 7.98% of the shares at 8.76% float percentage. In total, 28 institutions holds shares in the company, led by Vanguard Group, Inc. (The). As of Sep 29 this year, the company held over 6.38 Million shares (or 4.51% of shares), all amounting to roughly $3.07 Million.
The next major institution holding the largest number of shares is Qube Research & Technologies Ltd with 602.55 Thousand shares, or about 0.43% of shares outstanding. As of the market price on 44103, these shares were worth $290.13 Thousand.
We also have Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund as the top two Mutual Funds with the largest holdings of the Novan, Inc. (NOVN) shares. Going by data provided on 44011, Vanguard Total Stock Market Index Fund holds roughly 1,219,168 shares. This is just over 0.86% of the total shares, with a market valuation of $588.98 Thousand. Data from the same date shows that the other fund manager holds a little less at 448.12 Thousand, or 0.32% of the shares, all valued at about $216.49 Thousand.