In the last trading session, 1.23 million NovoCure Ltd (NASDAQ:NVCR) shares changed hands as the company’s beta touched 0.53. With the company’s per share price at $12.19 changed hands at -$0.18 or -1.46% during last session, the market valuation stood at $1.30B. NVCR’s last price was a discount, traded about -884.66% off its 52-week high of $120.03. The share price had its 52-week low at $10.87, which suggests the last value was 10.83% up since then. When we look at NovoCure Ltd’s average trading volume, we note the 10-day average is 1.45 million shares, with the 3-month average coming to 1.86 million.
Analysts gave the NovoCure Ltd (NVCR) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.14. If we narrow down to specifics, the data shows that 0 out of 7 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 4 recommended NVCR as a Hold, 3 felt it is a Buy and 0 rated the stock as Underweight. NovoCure Ltd’s EPS for the current quarter is expected to be $NVR, Inc..
NovoCure Ltd (NASDAQ:NVCR) trade information
Instantly NVCR was in red as seen at the end of in last trading. With action 7.12%, the performance over the past five days has been green. The drop to weekly highs of 13.01 on Monday, 11/20/23 subtracted -1.46% to the stock’s daily price. The company’s shares are showing year-to-date downside of -83.38%, with the 5-day performance at 7.12% in the green. However, in the 30-day time frame, NovoCure Ltd (NASDAQ:NVCR) is -16.28% down. Looking at the short shares, we see there were 8.93 million shares sold at short interest cover period of 5.81 days.
The consensus price target for the stock as assigned by Wall Street analysts is $26.86, meaning bulls need an upside of 54.62% from its current market value. According to analyst projections, NVCR’s forecast low is $15.00 with $49.00 as the target high. To hit the forecast high, the stock’s price needs a -301.97% plunge from its current level, while the stock would need to soar -23.05% for it to hit the projected low.
NovoCure Ltd (NVCR) estimates and forecasts
Data shows that the NovoCure Ltd share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -84.92% over the past 6 months, a -126.14% in annual growth rate that is considerably lower than the industry average of 5.70%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -4.89%. The 2023 estimates are for NovoCure Ltd earnings to decrease by -128.35%.
NovoCure Ltd is expected to release its next quarterly earnings report on October 26.
NovoCure Ltd (NASDAQ:NVCR)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 1.22% of NovoCure Ltd shares while 85.56% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 86.62%. There are 85.56% institutions holding the NovoCure Ltd stock share, with FMR, LLC the top institutional holder. As of Jun 29, 2023, the company held 14.94% of the shares, roughly 15.93 million NVCR shares worth $661.1 million.
Capital World Investors holds the second largest percentage of outstanding shares, with 10.68% or 11.39 million shares worth $472.71 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Growth Fund Of America Inc and Fidelity Growth Company Fund. With 7.53 million shares estimated at $312.3 million under it, the former controlled 7.06% of total outstanding shares. On the other hand, Fidelity Growth Company Fund held about 4.38% of the shares, roughly 4.67 million shares worth around $103.13 million.