In the latest trading session, 1.56 million Novavax, Inc. (NASDAQ:NVAX) shares changed hands as the company’s beta touched 1.61. With the company’s most recent per share price at $5.61 changed hands at -$0.12 or -2.18% at last look, the market valuation stands at $665.82M. NVAX’s current price is a discount, trading about -280.39% off its 52-week high of $21.34. The share price had its 52-week low at $5.61. When we look at Novavax, Inc.’s average trading volume, we note the 10-day average is 6.44 million shares, with the 3-month average coming to 9.50 million.
Analysts gave the Novavax, Inc. (NVAX) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.50. If we narrow down to specifics, the data shows that 1 out of 6 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended NVAX as a Hold, 3 felt it is a Buy and 1 rated the stock as Underweight. Novavax, Inc.’s EPS for the current quarter is expected to be -$0.38.
Novavax, Inc. (NASDAQ:NVAX) trade information
Instantly NVAX was in red as seen in intraday trades today. With action -10.61%, the performance over the past five days has been red. The drop to weekly highs of 6.51 on Friday, 11/17/23 subtracted -2.18% to the stock’s daily price. The company’s shares are showing year-to-date downside of -45.48%, with the 5-day performance at -10.61% in the red. However, in the 30-day time frame, Novavax, Inc. (NASDAQ:NVAX) is -12.83% down. Looking at the short shares, we see there were 44.91 million shares sold at short interest cover period of 5.27 days.
The consensus price target for the stock as assigned by Wall Street analysts is $20.20, meaning bulls need an upside of 72.23% from its recent market value. According to analyst projections, NVAX’s forecast low is $5.00 with $38.00 as the target high. To hit the forecast high, the stock’s price needs a -577.36% plunge from its current level, while the stock would need to tank 10.87% for it to hit the projected low.
Novavax, Inc. (NVAX) estimates and forecasts
Data shows that the Novavax, Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -25.66% over the past 6 months, a 57.84% in annual growth rate that is considerably higher than the industry average of 14.90%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Novavax, Inc. will rise 83.30%, while the growth in revenue is estimated to hit 90.00% for the next quarter. Year-over-year growth is forecast to reach -48.80% down from the last financial year.
Consensus estimates given by 6 financial analysts project the company’s revenue in the current quarter to hit an average of $321.65 million. 1 analysts are of the opinion that Novavax, Inc.’s revenue for the quarter ending Mar 2024 will be $300 million. The company’s revenue for the corresponding quarters a year ago was $357.4 million and $80.95 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -10.00%. The estimates for the next quarter sales put growth at 270.60%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 7.76%. The 2023 estimates are for Novavax, Inc. earnings to increase by 56.61%.
Novavax, Inc. is expected to release its next quarterly earnings report on November 09.
Novavax, Inc. (NASDAQ:NVAX)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.60% of Novavax, Inc. shares while 70.61% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 71.03%. There are 70.61% institutions holding the Novavax, Inc. stock share, with State Street Corporation the top institutional holder. As of Jun 29, 2023, the company held 12.37% of the shares, roughly 11.68 million NVAX shares worth $86.78 million.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 11.20% or 10.57 million shares worth $78.55 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Aug 30, 2023 were SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund. With 9.38 million shares estimated at $75.07 million under it, the former controlled 9.94% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.79% of the shares, roughly 2.64 million shares worth around $19.6 million.