NovoCure Ltd (NASDAQ:NVCR) shares, rose in value, with the stock price down by -0.89% to the previous day’s close as strong demand from buyers drove the stock to $12.23.
Actively observing the price movement in the last trading, the stock closed the session at $12.34. The value of beta (5-year monthly) was 0.43. Referring to stock’s 52-week performance, its high was $83.60, and the low was $10.87. On the whole, NVCR has fluctuated by -6.43% over the past month.
With the market capitalization of NovoCure Ltd currently standing at about $1.32 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 02, 2024.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 538.3M, with a low estimate of 129.43M and a high estimate of 135M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 131.45M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that NVCR’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium-term indicators have put the stock in the category of Hold while long-term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of NVCR currently trading nearly -9.93% and -15.91% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 38.18, while the 7-day volatility ratio is showing 4.30% which for the 30-day chart, stands at 6.22%. Furthermore, NovoCure Ltd (NVCR)’s beta value is 0.48, and its average true range (ATR) is 0.74.
A comparison of NovoCure Ltd (NVCR) with its peers suggests the former has fared considerably weaker in the market. NVCR showed an intraday change of -0.89% in last session, and over the past year, it shrunk by -79.94%%.
Data on historical trading for NovoCure Ltd (NASDAQ:NVCR) indicates that the trading volumes over the past 3 months, they’ve averaged 1.28 million. According to company’s latest data on outstanding shares, there are 107.08 million shares outstanding.
Nearly 10.09% of NovoCure Ltd’s shares belong to company insiders and institutional investors own 84.56% of the company’s shares. The stock has fallen by -18.08% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the NVCR stock heading into the next quarter.
