Nova (NASDAQ:NVMI) Sees Large Volume Increase

Posted by on Jun 2nd, 2023

Nova Ltd. (NASDAQ:NVMI – Get Rating) saw unusually-high trading volume on Wednesday . Approximately 58,614 shares traded hands during mid-day trading, a decline of 46% from the previous session’s volume of 107,988 shares.The stock last traded at $109.90 and had previously closed at $109.32.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NVMI. StockNews.com began coverage on shares of Nova in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Needham & Company LLC upped their target price on shares of Nova from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, February 14th. Benchmark upped their target price on shares of Nova from $100.00 to $106.00 and gave the company a “buy” rating in a research report on Thursday, February 16th. Finally, Jefferies Financial Group began coverage on shares of Nova in a research report on Thursday, April 20th. They set a “buy” rating and a $115.00 target price on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Nova has an average rating of “Moderate Buy” and a consensus price target of $112.20.

Nova Price Performance

The company has a debt-to-equity ratio of 0.31, a quick ratio of 3.77 and a current ratio of 4.78. The firm has a market capitalization of $3.19 billion, a P/E ratio of 25.10 and a beta of 1.24. The stock’s 50 day simple moving average is $97.45 and its 200 day simple moving average is $92.30.

Hedge Funds Weigh In On Nova

Hedge funds have recently added to or reduced their stakes in the stock. Y.D. More Investments Ltd bought a new position in shares of Nova during the fourth quarter valued at approximately $31,000. Tower Research Capital LLC TRC boosted its stake in shares of Nova by 109.0% during the third quarter. Tower Research Capital LLC TRC now owns 788 shares of the semiconductor company’s stock valued at $67,000 after purchasing an additional 411 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Nova by 134.9% during the fourth quarter. Quadrant Capital Group LLC now owns 827 shares of the semiconductor company’s stock valued at $68,000 after purchasing an additional 475 shares in the last quarter. Barclays PLC boosted its stake in shares of Nova by 29.9% during the third quarter. Barclays PLC now owns 1,551 shares of the semiconductor company’s stock valued at $132,000 after purchasing an additional 357 shares in the last quarter. Finally, Atlas Capital Advisors LLC bought a new position in shares of Nova during the third quarter valued at approximately $153,000. 70.02% of the stock is currently owned by institutional investors.

About Nova

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Nova Ltd. engages in the provision of metrology solutions for the semiconductor manufacturing industry. Its products and services include dimensional metrology, in-line materials and chemical metrology for semiconductor manufacturing and software solutions. The company was founded by Giora Dishon and Moshe Finarov in May 1993 and is headquartered in Rehovot, Israel.

Further Reading

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