Organovo Holdings Inc. [NASDAQ: ONVO] jumped around 3.22 points on Monday, while shares priced at $13.50 at the close of the session, up 31.32%. The company report on September 4, 2020 that Organovo Regains Compliance with Nasdaq Minimum Bid Price Requirement.
Organovo Holdings, Inc. (“Organovo” or the “Company”) (Nasdaq: ONVO) announced that it has regained compliance with the minimum bid price requirement for continued listing on The Nasdaq Capital Market (the “Minimum Bid Price Requirement”). On September 2, 2020, Organovo received a letter from the Listing Qualifications Department of The Nasdaq Stock Market, Inc. stating that because Organovo’s common stock had a closing bid price at or above $1.00 per share for a minimum of ten (10) consecutive business days, Organovo had regained compliance with the Minimum Bid Price Requirement and that Nasdaq had closed the matter.
Organovo Holdings Inc. stock is now 89.77% up from its year-to-date (YTD) trading value. ONVO Stock saw the intraday high of $14.2758 and lowest of $9.75 per share. The company’s 52-week high price is 18.60, which means current price is +249.20% above from all time high which was touched on 05/13/20.
Compared to the average trading volume of 152.12K shares, ONVO reached a trading volume of 1241000 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Organovo Holdings Inc. [ONVO]?
H.C. Wainwright have made an estimate for Organovo Holdings Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 13, 2018. The new note on the price target was released on November 10, 2017, representing the official price target for Organovo Holdings Inc. stock.
The Average True Range (ATR) for Organovo Holdings Inc. is set at 0.97, with the Price to Sales ratio for ONVO stock in the period of the last 12 months amounting to 234.00. The Price to Book ratio for the last quarter was 4.44, with the Price to Cash per share for the same quarter was set at 3.40.
How has ONVO stock performed recently?
Organovo Holdings Inc. [ONVO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 81.70. With this latest performance, ONVO shares gained by 51.69% in over the last four-week period, additionally plugging by 30.84% over the last 6 months – not to mention a rise of 49.83% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ONVO stock in for the last two-week period is set at 81.13, with the RSI for the last a single of trading hit 88.36, and the three-weeks RSI is set at 74.26 for Organovo Holdings Inc. [ONVO]. The present Moving Average for the last 50 days of trading for this stock 9.01, while it was recorded at 9.25 for the last single week of trading, and 9.58 for the last 200 days.
Organovo Holdings Inc. [ONVO]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Organovo Holdings Inc. [ONVO] shares currently have an operating margin of -853.73 and a Gross Margin at +33.06. Organovo Holdings Inc.’s Net Margin is presently recorded at -852.00.
Return on Total Capital for ONVO is now -59.58, given the latest momentum, and Return on Invested Capital for the company is -59.46. Return on Equity for this stock declined to -59.46, with Return on Assets sitting at -54.18.
Reflecting on the efficiency of the workforce at the company, Organovo Holdings Inc. [ONVO] managed to generate an average of -$3,118,333 per employee. Receivables Turnover for the company is 6.57 with a Total Asset Turnover recorded at a value of 0.06.Organovo Holdings Inc.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 29.60.
Earnings analysis for Organovo Holdings Inc. [ONVO]
With the latest financial reports released by the company, Organovo Holdings Inc. posted -0.06/share EPS, while the average EPS was predicted by analysts to be reported at -0.07/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 14.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ONVO.
Insider trade positions for Organovo Holdings Inc. [ONVO]
There are presently around $34 million, or 41.70% of ONVO stock, in the hands of institutional investors. The top three institutional holders of ONVO stocks are: ARK INVESTMENT MANAGEMENT LLC with ownership of 1,422,394, which is approximately 4.825% of the company’s market cap and around 1.80% of the total institutional ownership; NIKKO ASSET MANAGEMENT AMERICAS, INC., holding 478,570 shares of the stock with an approximate value of $4.92 million in ONVO stocks shares; and SUMITOMO MITSUI TRUST HOLDINGS, INC., currently with $4.92 million in ONVO stock with ownership of nearly -2.297% of the company’s market capitalization.
Positions in Organovo Holdings Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 18 institutional holders increased their position in Organovo Holdings Inc. [NASDAQ:ONVO] by around 163,080 shares. Additionally, 50 investors decreased positions by around 98,926 shares, while 15 investors held positions by with 3,014,261 shares. The mentioned changes placed institutional holdings at 3,276,267 shares, according to the latest SEC report filing. ONVO stock had 7 new institutional investments in for a total of 737 shares, while 35 institutional investors sold positions of 53,710 shares during the same period.