Novavax Sees Significant Decline in Short Interest (NVAX)
Novavax (NASDAQ:NVAX) was the recipient of a large drop in short interest during the month of April. As of April 15th, there was short interest totalling 20,742,961 shares, a drop of 7.2% from the March 31st total of 22,351,621 shares, Analyst Ratings Network.com reports. Based on an average daily volume of 4,447,584 shares, the days-to-cover ratio is presently 4.7 days. Approximately 10.5% of the company’s shares are sold short.
Separately, analysts at Ladenburg Thalmann raised their price target on shares of Novavax from $4.00 to $10.00 in a research note on Tuesday, March 11th. They now have a “buy” rating on the stock. Seven analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and a consensus target price of $10.70.
Novavax (NASDAQ:NVAX) opened at 4.33 on Monday. Novavax has a 52-week low of $1.68 and a 52-week high of $6.95. The stock has a 50-day moving average of $4.35 and a 200-day moving average of $4.57. The company’s market cap is $903.4 million.
Novavax (NASDAQ:NVAX) last issued its quarterly earnings data on Monday, March 10th. The company reported ($0.07) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.08) by $0.01. The company had revenue of $8.70 million for the quarter, compared to the consensus estimate of $6.22 million. During the same quarter last year, the company posted ($0.06) earnings per share. Novavax’s revenue was up 89.1% compared to the same quarter last year. On average, analysts predict that Novavax will post $-0.31 earnings per share for the current fiscal year.
Novavax, Inc (NASDAQ:NVAX), is a clinical stage biopharmaceutical company.
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