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Looking For A Top Momentum Stock? Check Out Novo Integrated Sciences Inc. (NASDAQ: NVOS)

Novo Integrated Sciences Inc. (NASDAQ:NVOS) shares, rose in value on Thursday, 05/25/23, with the stock price down by -10.52% to the previous day’s close as strong demand from buyers drove the stock to $0.13.

Actively observing the price movement in the last trading, the stock closed the session at $0.15, falling within a range of $0.133 and $0.147. The value of beta (5-year monthly) was -0.19. Referring to stock’s 52-week performance, its high was $2.14, and the low was $0.10. On the whole, NVOS has fluctuated by 22.18% over the past month.

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With the market capitalization of Novo Integrated Sciences Inc. currently standing at about $18.50 million, investors are eagerly awaiting this quarter’s results, scheduled for Jul 12, 2023 – Jul 17, 2023.

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Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that NVOS’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 50% Sell.

0 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by 0 analyst(s), 0 recommend it as a Buy and 0 called the NVOS stock Overweight. In the meantime, 0 analyst(s) believe the stock as Underweight and 0 think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is -.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of NVOS currently trading nearly -11.13% and 3.08% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 46.79, while the 7-day volatility ratio is showing 14.35% which for the 30-day chart, stands at 18.58%. Furthermore, Novo Integrated Sciences Inc. (NVOS)’s beta value is -0.20, and its average true range (ATR) is 0.02.

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Data on historical trading for Novo Integrated Sciences Inc. (NASDAQ:NVOS) indicates that the trading volumes over the past 10 days have averaged 8.05 million and over the past 3 months, they’ve averaged 20.72 million. According to company’s latest data on outstanding shares, there are 29.12 million shares outstanding.

Nearly 12.92% of Novo Integrated Sciences Inc.’s shares belong to company insiders and institutional investors own 1.40% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 4.19 million shares as on May 14, 2023, resulting in a short ratio of 0.29. According to the data, the short interest in Novo Integrated Sciences Inc. (NVOS) stood at 2.90% of shares outstanding as of May 14, 2023; the number of short shares registered in Apr 13, 2023 reached 4.01 million. The stock has fallen by -33.17% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the NVOS stock heading into the next quarter.

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