Shore Capital Reaffirms Buy Rating for Novae Group Plc (LON:NVA)
Novae Group Plc (LON:NVA)‘s stock had its “buy” rating restated by investment analysts at Shore Capital in a report released on Thursday, MarketBeat Ratings reports.
A number of other equities analysts have also recently issued reports on the company. Peel Hunt restated an “add” rating and set a GBX 665 ($8.61) price objective on shares of Novae Group Plc in a report on Monday, July 3rd. Numis Securities Ltd cut Novae Group Plc to a “hold” rating and set a GBX 650 ($8.42) price objective for the company. in a report on Friday, May 12th. Macquarie dropped their price objective on Novae Group Plc from GBX 729 ($9.44) to GBX 715 ($9.26) and set an “outperform” rating for the company in a report on Friday, May 12th. Canaccord Genuity dropped their price objective on Novae Group Plc from GBX 680 ($8.81) to GBX 635 ($8.23) and set a “hold” rating for the company in a report on Wednesday, May 10th. Finally, Stockdale Securities restated an “add” rating on shares of Novae Group Plc in a report on Thursday, April 27th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of GBX 685 ($8.87).
Shares of Novae Group Plc (NVA) traded down 0.21% during trading on Thursday, hitting GBX 709.00. The company had a trading volume of 928,509 shares. The stock’s 50-day moving average price is GBX 552.57 and its 200 day moving average price is GBX 620.03. The company’s market capitalization is GBX 442.90 million. Novae Group Plc has a 52 week low of GBX 490.32 and a 52 week high of GBX 850.00.
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In other news, insider Reeken Patel bought 72 shares of the stock in a transaction on Wednesday, May 3rd. The stock was acquired at an average cost of GBX 618 ($8.01) per share, for a total transaction of £444.96 ($576.37). Insiders acquired a total of 234 shares of company stock valued at $135,054 over the last quarter.
Novae Group Plc Company Profile
Novae Group plc is a United Kingdom-based holding company. The Company is engaged in a diversified property and casualty (re)insurance business. The Company operates in three segments: Property; Casualty, and Marine, Aviation & Political Risk (MAP). The Property segment comprises approximately 10 underwriting units.
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