With the current price of $114.62, the stock of Novavax, Inc. (NASDAQ:NVAX) concluded the trading session seeing its price rise by 1.51 points or at a gain of 1.33% compared to its previous day’s closing price of $113.11. About 6.989 million shares of the stock changed hands on the day. The trading volume of NVAX’s shares during the past session compares with the stock’s average daily trading volume of 8.345 million shares. On the other hand, a float of 55.24 million shares and a weekly performance of -22.06% make the stock worth to keep an eye on. Analysts are in agreement on an annual target price of $227.6 for NVAX’s share which suggests that the stock, price of which is currently buoying between $106.5 and $122.73, has a potential to gain 98.57%. But still, there are some analysts recommending a price below the agreed average price and one of them has given a target price of $105 to the stock.
The latest data released on August 14, 2020 shows that the short float in the Novavax, Inc.’s stock is trending downward as short interest in NVAX shares turned down leaving more number of shares available to public for trading. Number of shares shorted in the NVAX is currently comprised of 14.56% of the float as the volume of shorted shares declined by -44208 shares. Over the past two weeks, stock’s short interests improved as number of shorted shares reduced to 8.001 million shares from the previous figure of 8.045 million shares. Stock’s average intraday volume is now standing at 10.187 million shares which indicate that the days to cover the shorts are nearly 1.
After concluding the day’s trading, price of Novavax, Inc. (NASDAQ:NVAX) is down -$32.44 over the week and it is -$30.74 below20-day average price. The highest price touched by the stock on the day was lower than 52-week high price of $189.4 that was attained on 08/05/20.
The stock has traded as low as $3.54 in past 52-week, and its current price is 3137.85% above from that 52-week low price mark recorded on 11/21/19, which is an indicator that could increase the investors’ motivation level in taking advantage of price surge the stock has currently been going through. Stock currently has its beta at 1.69. A beta value of more than 1 represents higher volatility of a stock than that of the market and for the reason investors closely watch the behavior of such stock.
Current indicators are pointing at 41.15 as 14-days RSI of Novavax, Inc. This means that the NVAX is currently in a neutral territory and its share’s price movement is likely to be steady for a while. Similarly, the stochastic oscillator is indicating a momentum of 16.01%, implying stock’s share price is buoying in an overbought state.
Technical chart is showing 1st resistance point of $122.73 for the NVAX’s share while placing it at a 2nd resistance point of $130.85 to be settled at. But if the stock takes a plunge lower than the 1st support price of $106.5 then its market would become weakened. And that would likely sliding the stock price down to 2nd support price level of $98.39.
MACD oscillator is showing a reading of -20.23 for the stock which means that it is currently in the red zone. Any movement above or below the zero level of the indicator has always being noticed by the investors as it makes them compare the stock’s average measure in short-term with that in the long-term. An MACD evaluation of more than zero means that stock has a stronger short-term average than long-term average, which implies that stock’s price is likely to climb up. But an MACD below zero indicates weaker short-term average compare to the long-term average.
H.C. Wainwright maintained its Buy recommendation for NVAX stock in a review note dated August 06, but moved the price target up from $132 to $290. The stock gets its recommendation upgraded from Neutral to Overweight from the analysts at JP Morgan who assigned a target price of $275 in their August 05 note to investors.Ladenburg Thalmannanalysts downgraded their recommendation from Neutral to Sell on August 05, while assigning a price target of $105.
The average rating of 2.5 for NVAX is placing the stock in bullish category at the moment. In a poll by Reuters including 6 analysts in it who kept tracking the Novavax, Inc., 1 rated the stock as hold. Others were in different opinions for the NVAX. Out of remaining 5 analysts, 4 rated the stock as a buy or strong buy. 1 were in favor of a sell rating for the stock while advising investors to shun the stock if they already have any or otherwise not to buy it.
A quick look at other side of the picture shows that NVAX stock is ahead of earnings per share estimates with a forward price-to-earnings ratio of 5.27.
Projection by Zacks Consensus Estimates suggests that Novavax, Inc. (NASDAQ:NVAX) will see its current-quarter revenues drop by nearly -99.33% to be decreased to about $237 million. Full-year revenue of the company is however forecasted to be increased by nearly 6170.1% to bring $1170 million in revenues against last year revenue of $18.66 million. Earnings, after adjustments, are likely to fell by -347.3% to post an EPS of $1.83, while estimate for company’s full year earnings is $9.08 per share with a growth rate of -264.79%.