In the last trading session, 8,337,018 shares of the Novan, Inc.(NASDAQ:NOVN) were traded, and its beta was 0.16. Most recently the company’s share price was $2.02, and it changed around -$0.04 or -0.02% from the last close, which brings the market valuation of the company to $285.86 Million. NOVN currently trades at a discount to its 52-week high of $2.59, offering almost -28.22% off that amount. The share price’s 52-week low was $0.215, which indicates that the current value has risen by an impressive 89.36% since then. We note from Novan, Inc.’s average daily trading volume that its 10-day average is 19.06 Million shares, with the 3-month average coming to 22.27 Million.
Novan, Inc. stock received a consensus recommendation rating of Buy, based on a mean score of 2. If we narrow it down even further, the data shows that none out of 1 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, no body recommended NOVN as a Hold, whereas 1 deemed it a Buy, and no one rated it as Underweight. Novan, Inc. is expected to report earnings per share of $0 for the current quarter.
Novan, Inc. (NASDAQ:NOVN): Trading Information
Although NOVN has showed a red trend with a performance of -1.94% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of $2.59- on Tuesday, Feb 16 increased the stock’s daily price by 22.01%. The company’s shares are currently up 1.48% year-to-date, but still down -0.2078 over the last five days. On the other hand, Novan, Inc. (NASDAQ:NOVN) is 0.5% up in the 30-day period. We can see from the shorts that 5.84 Million shares have been sold at a short interest cover period of 0.26 day(s).
The consensus price target as assigned by Wall Street analysts is $3, which translates to bears needing to increase their stock price by 48.51% from its current value. Analyst projections state that NOVN is forecast to be at a low of $1.5 and a high of $4.5. In order for the stock price to hit the forecast high, the stock would need to surge +122.77% from its current level, while the stock would need to crash -25.74% from its current level to reach the projected low.
Novan, Inc. (NOVN) projections and forecasts
Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $1.24 Million in revenue for the current quarter. 1 analysts expect Novan, Inc. to make $1.1 Million in revenue for the quarter ending March 01, 2021. The company’s sales for the same quarters a year ago were $1.38 Million and $1.21 Million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -10.1%. Forecasts for the next quarter put sales growth at -9.3%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -5.9%. Novan, Inc. earnings are expected to decrease by -137.6% in 2021, but the outlook is negative 0% per year for the next five years.
Novan, Inc. (NASDAQ:NOVN)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 8.94% of Novan, Inc. shares, and 8.03% of them are in the hands of institutional investors. The stock currently has a share float of 8.81%. Novan, Inc. stock is held by 28 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Sep 29, 2020, it held 4.51% of the shares, which is about 6.38 Million shares worth $3.07 Million.
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