NovoCure Ltd (NASDAQ: NVCR)’s stock price has soared by 4.08 in relation to previous closing price of 12.24. Nevertheless, the company has seen a gain of 3.24% in its stock price over the last five trading days. Zacks Investment Research reported 2024-04-01 that NovoCure (NVCR) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
Is It Worth Investing in NovoCure Ltd (NASDAQ: NVCR) Right Now?
Additionally, the 36-month beta value for NVCR is 0.49. There are mixed opinions on the stock, with 3 analysts rating it as a “buy,” 2 rating it as “overweight,” 1 rating it as “hold,” and 0 rating it as “sell.”
The public float for NVCR is 96.75M and currently, short sellers hold a 6.24% ratio of that float. The average trading volume of NVCR on May 02, 2024 was 1.28M shares.
NVCR’s Market Performance
The stock of NovoCure Ltd (NVCR) has seen a 3.24% increase in the past week, with a -11.47% drop in the past month, and a -8.48% fall in the past quarter. The volatility ratio for the week is 4.81%, and the volatility levels for the past 30 days are at 5.08% for NVCR. The simple moving average for the past 20 days is -2.50% for NVCR’s stock, with a -26.77% simple moving average for the past 200 days.
Analysts’ Opinion of NVCR
Many brokerage firms have already submitted their reports for NVCR stocks, with JP Morgan repeating the rating for NVCR by listing it as a “Neutral.” The predicted price for NVCR in the upcoming period, according to JP Morgan is $15 based on the research report published on November 20, 2023 of the previous year 2023.
H.C. Wainwright, on the other hand, stated in their research note that they expect to see NVCR reach a price target of $25, previously predicting the price at $85. The rating they have provided for NVCR stocks is “Neutral” according to the report published on August 28th, 2023.
Piper Sandler gave a rating of “Overweight” to NVCR, setting the target price at $45 in the report published on August 08th of the previous year.
NVCR Trading at -10.84% from the 50-Day Moving Average
After a stumble in the market that brought NVCR to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -84.76% of loss for the given period.
Volatility was left at 5.08%, however, over the last 30 days, the volatility rate increased by 4.81%, as shares sank -11.65% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -19.47% lower at present.
During the last 5 trading sessions, NVCR rose by +3.24%, which changed the moving average for the period of 200-days by -68.60% in comparison to the 20-day moving average, which settled at $12.98. In addition, NovoCure Ltd saw -14.67% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at NVCR starting from GROENHUYSEN WILHELMUS CM, who sale 1,217 shares at the price of $16.01 back on Mar 04 ’24. After this action, GROENHUYSEN WILHELMUS CM now owns 251,235 shares of NovoCure Ltd, valued at $19,484 using the latest closing price.
Leonard Frank X, the EVP, Pres., Novocure Oncology of NovoCure Ltd, sale 840 shares at $16.01 during a trade that took place back on Mar 04 ’24, which means that Leonard Frank X is holding 160,098 shares at $13,448 based on the most recent closing price.
Stock Fundamentals for NVCR
Current profitability levels for the company are sitting at:
- -0.46 for the present operating margin
- 0.75 for the gross margin
The net margin for NovoCure Ltd stands at -0.41. The total capital return value is set at -0.24. Equity return is now at value -51.52, with -17.71 for asset returns.
Based on NovoCure Ltd (NVCR), the company’s capital structure generated 0.63 points at debt to capital in total, while cash flow to debt ratio is standing at -0.12. The debt to equity ratio resting at 1.67. The interest coverage ratio of the stock is 25.4.
Currently, EBITDA for the company is -176.66 million with net debt to EBITDA at -1.97. When we switch over and look at the enterprise to sales, we see a ratio of 3.39. The receivables turnover for the company is 6.61for trailing twelve months and the total asset turnover is 0.44. The liquidity ratio also appears to be rather interesting for investors as it stands at 5.78.
Conclusion
In conclusion, NovoCure Ltd (NVCR) has seen bad performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
