As of Thursday close, NovoCure Limited’s (NASDAQ:NVCR) stock was up $0.13, moving up 0.59 percent to $22.06. The average number of shares traded per day over the past five days has been 6,427,560 shares. 1 time new highs have been achieved over the past 5 days, with a -$7.94 fall in that time frame. In the last twenty days, the average volume was 2,667,915, while in the previous 50 days, it was 1,823,700.
Since last month, NVCR stock retreated -26.69%. Shares of the company fell to $18.03 on 08/29/23, the lowest level in the past month. A 52-week high of $120.03 was reached on 01/05/23 after having rallying from a 52-week low of $18.03. Since the beginning of this year, NVCR’s stock price has dropped by -69.93% or -$51.29, and marked a new high 2 times. However, the stock has declined by -81.62% since its 52-week high.
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NVCR stock investors should be aware that NovoCure Limited (NVCR) stock had its last reported insider trading activity 30 days ago on Aug 02. Cordova Ashley, the Chief Financial Officer of the company, disposed of 1,144 shares for $30.25 on Aug 02. It resulted in a $34,607 divestment by the insider. Leonard Frank X sold 8,318 shares at an average price of $75.16 on Mar 07. The insider now owns 54,284 shares following the transaction. On Mar 03, Chief Operating Officer GROENHUYSEN WILHELMUS CM sold 25,635 shares at $76.16 apiece. The transaction was valued at $1,952,346.
Valuation Metrics
The stock’s beta is 0.61. Besides these, the trailing price-to-sales (P/S) ratio of 4.67, the price-to-book (PB) ratio of 5.64.
Financial Health
In the three months ended June 29, NovoCure Limited’s quick ratio stood at 6.90, while its current ratio was 7.10, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 1.36, and the total debt-to-equity ratio was 1.36. On the profitability front, the trailing twelve-month gross margin is 75.90% percent. In the year ended June 29, EBITDA margin amounted to -14.56%, whereas operating margins totaled -37.50%. Based on annual data, NVCR earned $422.97 million in gross profit and brought in $537.84 million in revenue.
In NovoCure Limited’s quarter-end financial report for June 29, it reported total debt of $567.15 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. NVCR’s revenue fell -11.76% to $122.18 million during the quarter, while net income inched up to $126.05 million. While analysts expected NovoCure Limited to report -$0.5 quarterly earnings, the actual figure was -$0.54 per share, beating the consensus estimate by -8.00%. During the quarter, the company generated -$65.01 million in EBITDA. The liabilities of NovoCure Limited were 743.33 million at the end of its most recent quarter ended June 29, and its total debt was $587.48 million. The value of shareholders’ equity is $106.62 million.
Technical Picture
This quick technical analysis looks at NovoCure Limited’s (NVCR) price momentum. With a historical volatility rate of 248.16%, the RSI 9-day stood at 29.08% on 31 August.
With respect to its five-day moving average, the current NovoCure Limited price is down by -26.47% percent or -$7.94. At present, NVCR shares trade -24.19% below its 20-day simple moving average and -65.42% percent below its 100-day simple moving average. However, the stock is currently trading approximately -49.72% below its SMA50 and -73.18% below its SMA200.
Stochastic coefficient K was 24.66% and Stochastic coefficient D was 21.52%, while ATR was 2.48. Given the Stochastic reading of 29.42% for the 14-day period, the RSI (14) reading has been calculated as 29.05%. As of today, the MACD Oscillator reading stands at -4.53, while the 14-day reading stands at -6.41.
Analyst Ratings
NovoCure Limited downgraded its rating on NovoCure Limited (NASDAQ: NVCR) to a Neutral in a note to investors on August 28, 2023. The analysts firm previously had a Buy rating on the stock.NovoCure Limited (NVCR) has been rated Overweight by analysts. According to 0 brokerage firms, NVCR is a sell, and 3 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate NovoCure Limited stock as buy, with 3 recommending it as overweight.
With a median target price of $34.00, the current consensus forecast for the stock is $23.00 – $49.00. Based on these forecasts, analysts predict NovoCure Limited (NVCR) will achieve an average price target of $35.17.
