Today’s big question for investors is, “what’s going on with Novavax, Inc. (NASDAQ:NVAX) stock? Its price is nose-diving -0.21 points, trading at $6.48 levels, and is down -3.14% from its previous close of $6.69. The shares seem to have an active trading volume day with a reported 589448 contracts so far this session. NVAX shares had a relatively better volume day versus average trading capacity of 1.06 million shares, but with a 0.47 billion float and a -16.54% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for NVAX stock indicates that the average analyst price target is $1.42 per share. This means the stock has a potential decrease of -78.09% from where the NVAX share price has been trading recently which is between $6.55 and $7.1399. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $7.
The shorts are running away from Novavax, Inc. (NVAX) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a drop in short interest in NVAX shares. While short interest still represents only 20.67% of NVAX’s float, the number of shares shorted have fallen by -13334304. The number of shares shorted fell to 82807018 shares, down from 96141322 shares during the preceding fortnight. With average daily trading volumes at 9967369 shares, days to cover increased to about 7.488797 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Novavax Announces Adjustment of Conversion Rate for its 3.75% Convertible Senior Notes due 2023” and dated May 10, 2019.
During the recent trading session for Novavax, Inc. (NASDAQ:NVAX), the company witnessed their stock drop by $-0.57 over a week and tumble down $-3.99 from the price 20 days ago. When compared to their established 52-week high of $51.6, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 12/13/18. The recent low of $5.72 stood for a -87.44% since 05/13/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Novavax, Inc., the two-week RSI stands at 31.8. This figure suggests that NVAX stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current NVAX readings is similarly very revealing as it has a stochastic reading of 21.56% at this stage. This figure means that NVAX share price today is being overbought.
Technical chart claims that Novavax, Inc. (NVAX) would settle between $7.04/share to $7.38/share level. However, if the stock price goes below the $6.45 mark, then the market for Novavax, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $6.2 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.44. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Piper Jaffray lowered their recommendation on shares of NVAX from Overweight to Underweight in their opinion released on February 28. Ladenburg Thalmann, analysts launched coverage of Novavax, Inc. (NASDAQ:NVAX) stock with a Buy recommendation, according to their flash note issued to investors on December 18. Analysts at Oppenheimer, made their first call for the equity with a Outperform recommendation, according to a research note that dated back to December 11.
NVAX equity has an average rating of 2.12, with the figure leaning towards a bullish end. 8 analysts who tracked the company were contacted by Reuters. Amongst them, 2 rated the stock as a hold while the remaining 6 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 5 analysts rated Novavax, Inc. (NASDAQ:NVAX) as a buy or a strong buy while 1 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, NVAX stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 5.49 while for the average stock in the same group, the multiple is 42.51.
Novavax, Inc. (NVAX)’s current-quarter revenues are projected to climb by nearly -67.2% to hit $3.53 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over -66.48% from $34.29 million to a noteworthy $11.5 million. At the other end of the current quarter income statement, Novavax, Inc. is expected to see its adjusted earnings surge by roughly 21.67% to hit $-1.88 per share. For the fiscal year, NVAX’s earnings are projected to climb by roughly 30.1% to hit $-6.99 per share.