Are Novavax, Inc. (NASDAQ: NVAX) Shares Ready For A Price Rise?

In the last trading session, 8.2 million Novavax, Inc. (NASDAQ:NVAX) shares changed hands as the company’s beta touched 1.54. With the company’s per share price at $4.15 changed hands at $0.12 or 2.98% during last session, the market valuation stood at $492.98M. NVAX’s last price was a discount, traded about -173.73% off its 52-week high of $11.36. The share price had its 52-week low at $3.53, which suggests the last value was 14.94% up since then. When we look at Novavax, Inc.’s average trading volume, we note the 10-day average is 6.81 million shares, with the 3-month average coming to 1.08.

Novavax, Inc. (NASDAQ:NVAX) trade information

Instantly NVAX was in green as seen at the end of in last trading. With action 10.37%, the performance over the past five days has been green. The jump to weekly highs of 4.34 added 2.98% to the stock’s daily price. The company’s shares are showing year-to-date downside of -13.54%, with the 5-day performance at 10.37% in the green. However, in the 30-day time frame, Novavax, Inc. (NASDAQ:NVAX) is -8.99% down. Looking at the short shares, we see there were 52.09 million shares sold at short interest cover period of 6.44 days.

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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 -43.61% over the past 6 months, a 54.04% in annual growth rate that is considerably higher than the industry average of 15.50%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Novavax, Inc. will rise 78.10%, while the growth in revenue is estimated to hit 99.10% 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. 2 analysts are of the opinion that Novavax, Inc.’s revenue for the quarter ending Mar 2024 will be $301 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 271.80%.

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 2024 estimates are for Novavax, Inc. earnings to increase by 49.98%.

NVAX Dividends

Novavax, Inc. is expected to release its next quarterly earnings report between February 26 and March 01.

Novavax, Inc. (NASDAQ:NVAX)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 5.80% of Novavax, Inc. shares while 59.91% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 63.61%. There are 59.91% institutions holding the Novavax, Inc. stock share, with Vanguard Group Inc the top institutional holder. As of Sep 29, 2023, the company held 9.72% of the shares, roughly 11.55 million NVAX shares worth $47.94 million.

State Street Corporation holds the second largest percentage of outstanding shares, with 8.57% or 10.17 million shares worth $42.22 million as of Sep 29, 2023.

Among Mutual Funds, the top two as of Nov 29, 2023 were SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund. With 8.87 million shares estimated at $36.79 million under it, the former controlled 7.46% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.31% of the shares, roughly 2.75 million shares worth around $11.4 million.

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