NovoCure Ltd (NASDAQ: NVCR)’s Stock Is Down -76.02% Since The Beginning Of The Year, Likely To Sustain The Trend In 2024

During the last session, NovoCure Ltd (NASDAQ:NVCR)’s traded shares were 1.36 million, with the beta value of the company hitting 0.44. At the end of the trading day, the stock’s price was $14.42, reflecting an intraday gain of 0.21% or $0.03. The 52-week high for the NVCR share is $83.60, that puts it down -479.75 from that peak though still a striking 24.62% gain since the share price plummeted to a 52-week low of $10.87. The company’s market capitalization is $1.54B, and the average intraday trading volume over the past 10 days was 2.61 million shares, and the average trade volume was 1.42 million shares over the past three months.

NovoCure Ltd (NASDAQ:NVCR) trade information

NovoCure Ltd (NVCR) registered a 0.21% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 0.21% in intraday trading to $14.42, hitting a weekly high. The stock’s 5-day price performance is 10.33%, and it has moved by -12.23% in 30 days. Based on these gigs, the overall price performance for the year is -76.02%. The short interest in NovoCure Ltd (NASDAQ:NVCR) is 5.54 million shares and it means that shorts have 5.25 day(s) to cover.

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NovoCure Ltd (NVCR) estimates and forecasts

Statistics show that NovoCure Ltd has underperformed its competitors in share price, compared to the industry in which it operates. NovoCure Ltd (NVCR) shares have gone down -7.50% during the last six months, with a year-to-date growth rate less than the industry average at 8.72% against 13.30. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 16.00% this quarter and then jump 18.50% in the quarter after that. In the rating firms’ projections, revenue will increase 5.70% compared to the previous financial year.

Revenue for the current quarter is expected to be $131.45 million as predicted by 7 analyst(s). Meanwhile, a consensus of 7 analyst(s) estimates revenue growth to $133.76 million by the end of Jun 2024.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -22.97%. While earnings are projected to return 9.67% in 2024.

NVCR Dividends

NovoCure Ltd is due to release its next quarterly earnings on May 02. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

NovoCure Ltd (NASDAQ:NVCR)’s Major holders

NovoCure Ltd insiders own 1.67% of total outstanding shares while institutional holders control 85.89%, with the float percentage being 87.34%. FMR, LLC is the largest shareholder of the company, while 332 institutions own stock in it. As of Jun 29, 2023, the company held over 15.93 million shares (or 14.94% of all shares), a total value of $661.1 million in shares.

The next largest institutional holding, with 11.39 million shares, is of Capital World Investors’s that is approximately 10.68% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $472.71 million.

Also, the Mutual Funds coming in first place with the largest holdings of NovoCure Ltd (NVCR) shares are Growth Fund Of America Inc and Fidelity Growth Company Fund. Data provided on Jun 29, 2023 indicates that Growth Fund Of America Inc owns about 7.53 million shares. This amounts to just over 7.06 percent of the company’s overall shares, with a $312.3 million market value. The same data shows that the other fund manager holds slightly less at 4.67 million, or about 4.38% of the stock, which is worth about $103.13 million.