During the last session, Novan, Inc. (NASDAQ:NOVN)’s traded shares were 2,366,808, with the beta value of the company hitting -0.03. At the end of the trading day, the stock’s price was $1.46, reflecting an intraday loss of -3.31% or -$0.05. The 52-week high for the NOVN share is $2.59, that puts it down -77.4% from that peak though still a striking +79.45% gain since the share price plummeted to a 52-week low of $0.3. The company’s market capitalization is $221.41 Million, and the average intraday trading volume over the past 10 days was 6.1 Million shares, and the average trade volume was 15.55 Million shares over the past three months.
Novan, Inc. (NOVN) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 2. NOVN has a Sell rating from none of the analyst(s) out of 1 analysts who have looked at this stock. Neither of the analyst(s) recommend to Hold the stock while none of them suggest Overweight, and 1 recommend a Buy rating for it. None of the analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.
Novan, Inc. (NASDAQ:NOVN): Trading Information
Novan, Inc. (NOVN) registered a -3.31% downside in the last session and has traded in the red over the past 5 sessions. The stock spiked 11.52% in intraday trading to $1.65 this Wednesday, Mar 31, hitting a weekly high. The stock’s 5-day price performance is -8.75%, and it has moved by 0.69% in 30 days. Based on these gigs, the overall price performance for the year is 79.58%. The short interest in Novan, Inc. (NASDAQ:NOVN) is 4.07 Million shares and it means that shorts have 0.26 day(s) to cover.
The consensus price target of analysts on Wall Street is $3, which implies an increase of 105.48% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $1.5 and $4.5 respectively. As a result, NOVN is trading at a discount of 208.22% off the target high and 2.74% off the low.
Novan, Inc. (NOVN) projections and forecasts
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 29.7%. While earnings are projected to return 74.6% in 2021, the next five years will return 0% per annum.
Novan, Inc. (NASDAQ:NOVN)’s Biggest Investors
Novan, Inc. insiders own 7.27% of total outstanding shares while institutional holders control 10.33%, with the float percentage being 11.14%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 28 institutions own stock in it. As of Dec 30, 2020, the company held over 6.96 Million shares (or 4.59% of all shares), a total value of $5.65 Million in shares.
The next largest institutional holding, with 3.43 Million shares, is of Blackrock Inc.’s that is approximately 2.26% of outstanding shares. At the market price on Dec 30, 2020, these shares were valued at $2.79 Million.
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Also, the Mutual Funds coming in first place with the largest holdings of Novan, Inc. (NOVN) shares are Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. Data provided on Dec 30, 2020 indicates that Vanguard Total Stock Market Index Fund owns about 5,334,957 shares. This amounts to just over 3.52 percent of the company’s overall shares, with a $4.34 Million market value. The same data shows that the other fund manager holds slightly less at 1.27 Million, or about 0.84% of the stock, which is worth about $1.03 Million.