Novan Inc. [NASDAQ: NOVN] gained 16.79% on the last trading session, reaching $1.60 price per share at the time. The company report on March 8, 2021 that NOVN: B-SIMPLE4 Enrollment Complete.
By John Vandermosten, CFA.
Novan Inc. represents 143.35 million in outstanding shares, while the company has a total market value of $246.05 million with the latest information. NOVN stock price has been found in the range of $1.47 to $1.67.
If compared to the average trading volume of 20.28M shares, NOVN reached a trading volume of 13191817 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Novan Inc. [NOVN]:
Piper Jaffray have made an estimate for Novan Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 06, 2020.
The Average True Range (ATR) for Novan Inc. is set at 0.21, with the Price to Sales ratio for NOVN stock in the period of the last 12 months amounting to 50.21. The Price to Book ratio for the last quarter was 80.00, with the Price to Cash per share for the same quarter was set at 0.23.
Trading performance analysis for NOVN stock
Novan Inc. [NOVN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.44. With this latest performance, NOVN shares dropped by -1.23% in over the last four-week period, additionally plugging by 213.73% over the last 6 months – not to mention a rise of 236.84% 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 NOVN stock in for the last two-week period is set at 51.00, with the RSI for the last a single of trading hit 52.29, and the three-weeks RSI is set at 51.47 for Novan Inc. [NOVN]. The present Moving Average for the last 50 days of trading for this stock 1.5954, while it was recorded at 1.4640 for the last single week of trading, and 0.8382 for the last 200 days.
Novan Inc. [NOVN]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Novan Inc. [NOVN] shares currently have an operating margin of -531.81. Novan Inc.’s Net Margin is presently recorded at -595.39.
When it comes to the capital structure of this company, Novan Inc. [NOVN] has a Total Debt to Total Equity ratio set at 32.11. Additionally, NOVN Total Debt to Total Capital is recorded at 24.31, with Total Debt to Total Assets ending up at 2.04. Long-Term Debt to Equity for the company is recorded at 16.06, with the Long-Term Debt to Total Capital now at 12.15.
Reflecting on the efficiency of the workforce at the company, Novan Inc. [NOVN] managed to generate an average of -$1,273,609 per employee. Receivables Turnover for the company is 1.86 with a Total Asset Turnover recorded at a value of 0.13.Novan Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.10 and a Current Ratio set at 5.10.
Novan Inc. [NOVN]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Novan Inc. posted -0.17/share EPS, while the average EPS was predicted by analysts to be reported at -0.22/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 22.70%. 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 NOVN.
An analysis of insider ownership at Novan Inc. [NOVN]
There are presently around $21 million, or 10.30% of NOVN stock, in the hands of institutional investors. The top three institutional holders of NOVN stocks are: VANGUARD GROUP INC with ownership of 6,955,289, which is approximately 9.086% of the company’s market cap and around 8.94% of the total institutional ownership; BLACKROCK INC., holding 3,434,770 shares of the stock with an approximate value of $5.5 million in NOVN stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $1.59 million in NOVN stock with ownership of nearly 205.606% of the company’s market capitalization.
Positions in Novan Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 18 institutional holders increased their position in Novan Inc. [NASDAQ:NOVN] by around 5,136,403 shares. Additionally, 12 investors decreased positions by around 906,354 shares, while 6 investors held positions by with 6,985,365 shares. The mentioned changes placed institutional holdings at 13,028,122 shares, according to the latest SEC report filing. NOVN stock had 9 new institutional investments in for a total of 269,712 shares, while 9 institutional investors sold positions of 365,550 shares during the same period.