Novan Inc. (NASDAQ: NOVN) is 153.38% higher on its value in year-to-date trading and has touched a low of $0.22 and a high of $2.59 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The NOVN stock was last observed hovering at around $1.90 in the last trading session, with the day’s gains setting it 0.16% off its average median price target of $3.00 for the next 12 months. It is also 54.22% off the consensus price target high of $4.50 offered by 1 analysts, but current levels are -37.33% lower than the price target low of $1.50 for the same period.
Even if you’re not actively in crypto, you deserve to know what’s actually going on...
Because while leading assets such as Bitcoin (BTC) and Ethereum (ETH) are climbing in value, a select group of public “crypto stocks” are surging right along with them. More importantly, these stocks are outpacing the returns these leading crypto assets aren already producing.
Click here to get the full story… along with our long list of backdoor Bitcoin strategies. It’s free.
Currently trading at $2.06, the stock is 29.15% and 80.82% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 15.47 million and changing 8.42% at the moment leaves the stock 207.65% off its SMA200. NOVN registered 303.37% gain for a year compared to 6-month gain of 308.16%. The firm has a 50-day simple moving average (SMA 50) of $1.4235 and a 200-day simple moving average (SMA200) of $0.7485.
The stock witnessed a 57.25% loss in the last 1 month and extending the period to 3 months gives it a 328.19%, and is -4.19% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 16.58% over the week and 15.17% over the month.
Novan Inc. (NOVN) has around 42 employees, a market worth around $268.89M and $5.20M in sales. Distance from 52-week low is 858.14% and -20.46% from its 52-week high. The company has generated returns on investments over the last 12 months (128.90%).
Novan Inc. (NOVN) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Novan Inc. (NOVN) is a “Buy”. 1 analysts offering their recommendations for the stock have an average rating of 2.00, where 0 rate it as a Hold and 0 think it is a “Overweight”. 1 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Novan Inc. is expected to release its quarterly report on 05/19/2021 and quarterly earnings per share for the current quarter are estimated at $0 with sales reaching $1.24M over the same period.The EPS is expected to shrink by -137.60% this year, but quarterly earnings will post 4.00% year-over-year. Quarterly sales are estimated to shrink -10.10% in year-over-year returns.
Novan Inc. (NOVN) Top Institutional Holders
28 institutions hold shares in Novan Inc. (NOVN), with 12.65M shares held by insiders accounting for 8.94% while institutional investors hold 8.81% of the company’s shares. The shares outstanding are 133.69M, and float is at 130.56M with Short Float at 4.47%. Institutions hold 8.03% of the Float.
The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 6.38 million shares valued at $3.07 million. The investor’s holdings represent 4.51% of the NOVN Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 3.43 million shares valued at $2.79 million to account for 2.43% of the shares outstanding. The other top investors are Qube Research & Technologies Ltd which holds 0.6 million shares representing 0.43% and valued at over $0.29 million, while Bridgeway Capital Management, Inc. holds 0.33% of the shares totaling 0.47 million with a market value of $0.22 million.
Novan Inc. (NOVN) Insider Activity
A total of 0 insider transactions have happened at Novan Inc. (NOVN) in the last six months, with sales accounting for 0 and purchases happening 0 times.
Novan Inc. (NOVN): Who are the competitors?
Omeros Corporation (OMER) is 73.65% up on the 1-year trading charts. Short interest in the company’s stock has fallen -2.74% from the last report on Dec 30, 2020 to stand at a total of 6.0 million short shares sold with a short interest ratio of 0.17.