In the last trading session, 2,761,254 Novan, Inc. (NASDAQ:NOVN) shares changed hands as the company’s beta touched -0.09. With the company’s per share price at $10.87 changed hands at $0.02 or 0% during last session, the market valuation stood at $164.91 Million. NOVN’s last price was a discount, traded about -138.27% off its 52-week high of $25.9. The share price had its 52-week low at $3, which suggests the last value was 72.4% up since then. When we look at Novan, Inc.’s average trading volume, we note the 10-day average is 33.36 Million shares, with the 3-month average coming to 3.77 Million.
Analysts gave the Novan, Inc. (NOVN) stock a consensus recommendation rating of Buy, calculated at a mean rating of 2. If we narrow down to specifics, the data shows that none out of 2 analysts rate the stock as a Sell, with a further none assigning it an Overweight rating. Of the remaining, none recommended NOVN as a Hold, 2 felt it is a Buy and none rated the stock as Underweight. Novan, Inc.’s EPS for the current quarter is expected to be -$0.05.
Novan, Inc. (NASDAQ:NOVN) trade information
Instantly NOVN was in green as seen at the end of in last trading. With action 0.18%, the performance over the past five days has been red. The jump to weekly highs of $20.74 on Monday, Jun 14 added 47.59% to the stock’s daily price. The company’s shares are showing year-to-date upside of 0.34%, with the 5-day performance at -0.26% in the red. However, in the 30-day time frame, Novan, Inc. (NASDAQ:NOVN) is -0.12% down. Looking at the short shares, we see there were 306.51 Million shares sold at short interest cover period of 81.3 days.
The consensus price target for the stock as assigned by Wall Street analysts is $52.67, meaning bulls need an upside of 384.54% from its current market value. According to analyst projections, NOVN’s forecast low is $28 with $90 as the target high. To hit the forecast high, the stock’s price needs a +727.97% upsurge from its current level, while the stock would need to tank 157.59% for it to hit the projected low.
Novan, Inc. (NOVN) estimates and forecasts
Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of $850Million. 2 analysts are of the opinion that Novan, Inc.’s revenue for the quarter ending September 01, 2021 will be $850Million. The company’s revenue for the corresponding quarters a year ago was $1.09 Million and $1.24 Million respectively. According to analysts, the company will likely register a drop in its current quarter sales, forecast at -22%. The estimates for the next quarter sales put growth at -31.5%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 29.7%. The 2021 estimates are for Novan, Inc. earnings to increase by 74.6%, but the outlook for the next 5-year period is at 0% per year.
Novan, Inc. (NASDAQ:NOVN)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 7.27% of Novan, Inc. shares while 12.13% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 13.09%. There are 42 institutions holding the Novan, Inc. stock share, with Vanguard Group, Inc. (The) the top institutional holder. As of Mar 30, 2021, the company held 0.39% of the shares, roughly 594.53 Thousand NOVN shares worth $9.27 Million.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 0.18% or 266.26 Thousand shares worth $4.15 Million as of Mar 30, 2021.
Among Mutual Funds, the top two as of Mar 30, 2021 were Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. With 384704 shares estimated at $6Million under it, the former controlled 0.25% of total outstanding shares. On the other hand, Vanguard Extended Market Index Fund held about 0.12% of the shares, roughly 183.58 Thousand shares worth around $2.86 Million.