The trading price of NovoCure Limited (NASDAQ:NVCR) floating higher at last check on Wednesday, June 22, closing at $63.67, 8.36% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it has been fluctuating between $58.65 and $60.27. In examining the 52-week price action we see that the stock hit a 52-week high of $232.76 and a 52-week low of $56.39. Over the past month, the stock has lost -20.65% in value.
NovoCure Limited, whose market valuation is $6.00 billion at the time of this writing, is expected to release its quarterly earnings report Apr 27, 2022 – May 02, 2022. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -$0.15 per share this quarter, however they have predicted annual earnings per share of -$0.54 for 2022 and -$0.61 for 2023. It means analysts are expecting annual earnings per share growth of 3.60% this year and -13.00% next year.
Analysts have forecast the company to bring in revenue of $135.44 million for the current quarter, with the likely lows of $133.73 million and highs of $138.2 million. The average estimate suggests sales will likely up by 1.40% this quarter compared to what was recorded in the comparable quarter last year. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2022 is $551.88 million. The company’s revenue is forecast to grow by 3.10% over what it did in 2022.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of NovoCure Limited No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest NVCR has a 100% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Sell, while an average of long term indicators suggests that the stock is currently 100% Sell.
A quick review shows that NVCR’s price is currently -12.05% off the SMA20 and -14.79% off the SMA50. The RSI metric on the 14-day chart is currently showing 42.35, and weekly volatility stands at 5.10%. When measured over the past 30 days, the indicator reaches 5.85%. NovoCure Limited (NASDAQ:NVCR)’s beta value is currently sitting at 1.08, while the Average True Range indicator is currently displaying 4.49.
To see how NovoCure Limited stock has been performing today in comparison to its peers in the industry, here are the numbers: NVCR stock’s performance was 8.36% at last check in today’s session, and -73.35% in the past year, while NuVasive Inc. (NUVA) has been trading 3.17% in recent session and positioned -29.45% lower than it was a year ago. Also during today’s trading, the S&P 500 Index has surged 0.15%, while the Dow Jones Industrial also saw a negative session, down -0.07% today.
An evaluation of the daily trading volume of NovoCure Limited (NASDAQ:NVCR) indicates that the 3-month average is 652.01K.
Currently, records show that 104.19 million of the company’s shares remain outstanding. The insiders hold 1.10% of outstanding shares, whereas institutions hold 78.80%. However, since the stock’s price has seen -21.74% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.