Novan Inc. [NASDAQ: NOVN] plunged by -$0.12 during the normal trading session on Wednesday and reaching a high of $1.35 during the day while it closed the day at $1.21. The company report on March 8, 2021 that NOVN: B-SIMPLE4 Enrollment Complete.
By John Vandermosten, CFA.
Novan Inc. stock has also loss -17.12% of its value over the past 7 days. However, NOVN stock has inclined by 22.17% in the 3 months of the year. Over the past six months meanwhile, it has gained 160.22% and gained 48.83% year-on date.
The market cap for NOVN stock reached $183.46 million, with 143.35 million shares outstanding and 130.56 million shares in the current float. Compared to the average trading volume of 14.00M shares, NOVN reached a trading volume of 5799353 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say 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 0.15, with the Price to Sales ratio for NOVN stock in the period of the last 12 months amounting to 37.44. The Price to Book ratio for the last quarter was 60.50, with the Price to Cash per share for the same quarter was set at 0.24.
NOVN stock trade performance evaluation
Novan Inc. [NOVN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -17.12. With this latest performance, NOVN shares dropped by -32.40% in over the last four-week period, additionally plugging by 160.22% over the last 6 months – not to mention a rise of 181.13% 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 36.30, with the RSI for the last a single of trading hit 28.09, and the three-weeks RSI is set at 41.34 for Novan Inc. [NOVN]. The present Moving Average for the last 50 days of trading for this stock 1.6320, while it was recorded at 1.3760 for the last single week of trading, and 0.8849 for the last 200 days.
Novan Inc. [NOVN]: An insightful look at the core fundamentals
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.
Earnings per share (EPS) analysis for Novan Inc. [NOVN] stock
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.
Novan Inc. [NOVN]: Insider Ownership positions
There are presently around $16 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 0.10% of the total institutional ownership; BLACKROCK INC., holding 3,434,770 shares of the stock with an approximate value of $4.16 million in NOVN stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $1.21 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 May and at the time of the May reporting period, where 17 institutional holders increased their position in Novan Inc. [NASDAQ:NOVN] by around 5,114,903 shares. Additionally, 13 investors decreased positions by around 927,854 shares, while 6 investors held positions by with 6,963,865 shares. The mentioned changes placed institutional holdings at 13,006,622 shares, according to the latest SEC report filing. NOVN stock had 8 new institutional investments in for a total of 248,212 shares, while 10 institutional investors sold positions of 387,050 shares during the same period.