Sinovac Biotech Sees Strong Trading Volume After Analyst Upgrade (SVA)
Sinovac Biotech (NYSE:SVA) shares saw unusually-strong trading volume on Monday after Aegis raised their price target on the stock from $7.00 to $10.00, Stock Ratings Network reports. Aegis currently has a buy rating on the stock. Approximately 166,956 shares traded hands during mid-day trading, an increase of 21% from the previous session’s volume of 137,945 shares.The stock last traded at $5.60 and had previously closed at $5.61.
Separately, analysts at Morgan Stanley reiterated an “overweight” rating on shares of Sinovac Biotech in a research note on Tuesday, May 27th. They now have a $9.00 price target on the stock.
The stock has a 50-day moving average of $5.61 and a 200-day moving average of $6.15. The company has a market cap of $311.3 million and a price-to-earnings ratio of 33.20.
Sinovac Biotech (NYSE:SVA) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by $0.05. The company had revenue of $12.10 million for the quarter, compared to the consensus estimate of $17.20 million. Analysts expect that Sinovac Biotech will post $-0.04 EPS for the current fiscal year.
Sinovac Biotech Ltd. (NYSE:SVA) is a holding company.
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