Novan Inc. (NASDAQ:NOVN) has a beta value of -0.11 and has seen 3,568,563 shares traded in the last trading session. The company, currently valued at $207.77 Million, closed the last trade at $1.37 per share which meant it gained $0.04 on the day or 3.01% during that session. The NOVN stock price is -89.05% off its 52-week high price of $2.59 and 78.1% above the 52-week low of $0.3. If we look at the company’s 10-day average daily trading volume, we find that it stood at 6.1 Million shares traded. The 3-month trading volume is 15.55 Million shares.
The consensus among analysts is that Novan Inc. (NOVN) is a Buy stock at the moment, with a recommendation rating of 2. None of the analysts rate the stock as a Sell, while none rate it as Overweight. None out of 2 have rated it as a Hold, with 2 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is -$0.05.
Novan Inc. (NASDAQ:NOVN) trade information
Sporting 3.01% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Wednesday, Apr 28 when the NOVN stock price touched $1.39 or saw a rise of 1.44%. Year-to-date, Novan Inc. shares have moved 68.51%, while the 5-day performance has seen it change 4.58%. Over the past 30 days, the shares of Novan Inc. (NASDAQ:NOVN) have changed -14.38%. Short interest in the company has seen 2.85 Million shares shorted with days to cover at 0.18.
Wall Street analysts have a consensus price target for the stock at $3, which means that the shares’ value could jump 118.98% from current levels. The projected low price target is $1.5 while the price target rests at a high of $4.5. In that case, then, we find that the current price level is +228.47% off the targeted high while a plunge would see the stock lose 9.49% from current levels.
Novan Inc. (NOVN) estimates and forecasts
Figures show that Novan Inc. shares have outperformed across the wider relevant industry. The company’s shares have gained +183.88% over the past 6 months, with this year growth rate of 26.92%, compared to 16.6% for the industry. Other than that, the company has, however Increased its growth outlook for the 2021 fiscal year revenue. Growth estimates for the current quarter are 70.6% and 50% for the next quarter. Revenue growth from the last financial year stood is estimated to be -25%.
1 analysts offering their estimates for the company have set an average revenue estimate of $1.1 Million for the current quarter. 1 have an estimated revenue figure of $1.1 Million for the next quarter concluding in June 01, 2021. Year-ago sales stood $1.21 Million and $1.09 Million respectively for this quarter and the next, and analysts expect sales will grow by -9.3% for the current quarter and 0.9% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was +29.7% over the past 5 years. Earnings growth for 2021 is a modest +74.6%.
Novan Inc. (NASDAQ:NOVN)’s Major holders
Insiders own 7.27% of the company shares, while shares held by institutions stand at 10.31% with a share float percentage of 11.12%. Investors are also buoyed by the number of investors in a company, with Novan Inc. having a total of 27 institutions that hold shares in the company. The top two institutional holders are Vanguard Group Inc. (The) with over 6.96 Million shares worth more than $5.65 Million. As of December 30, 2020, Vanguard Group Inc. (The) held 4.59% of shares outstanding.
The other major institutional holder is Blackrock Inc., with the holding of over 3.43 Million shares as of December 30, 2020. The firm’s total holdings are worth over $2.79 Million and represent 2.26% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. As of December 30, 2020, the former fund manager holds about 3.52% shares in the company for having 5334957 shares of worth $4.34 Million while later fund manager owns 1.27 Million shares of worth $1.03 Million as of December 30, 2020, which makes it owner of about 0.84% of company’s outstanding stock.