Stock price movements
Novavax (NVAX) reported first-quarter results on May 2. The company reported revenues of $3.98 billion in the first quarter, a YoY decline of 58.75% and $0.62 million short of the consensus revenue estimate. In the first quarter, the company reported a net loss of $43.22 million, a YoY improvement of 6.76%. In the first quarter, Novavax reported diluted EPS of -$0.11, a YoY improvement of 21.43%.
After the results, Novavax closed at $0.53 on May 2, 3.92% higher than the previous close. On May 3, the company closed at $0.47, 3.29% lower than its 52-week low of $0.49, and 81.67% lower than its 52-week high of $2.58. The company’s market capitalization is $228.63 and PS (price-to-sales) and PC (price-to-cash) ratios were 6.67x and 2.48x, respectively. With a market capitalization lower than $300 million, Novavax is a micro-cap stock and can pose higher risks to retail investors as compared to the broader market or even large-cap stocks.
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Novavax’s 14-day RSI (relative strength index) is currently 37.18. The number of outstanding shares for the company is 469.50 million, while the short float ratio is 20.68%.
Based on its share price on May 3, Novavax has reported returns of -3.57%, -20.47%, -79.44%, -72.18%, -70.44%, and -74.30%, in the previous week, previous month, previous quarter, previous half year, previous year, and YTD, respectively.
Analysts’ recommendations and target price
Wall Street analysts expect an upside potential of 208.73% for Novavax based on the company’s closing price on May 3. Analysts have slashed the company’s 12-month consensus target price from $4.38 in February to $2.13 in March to $1.46 in April and May.
Out of eight analysts covering Novavax, three analysts recommend a “strong buy,” two recommend a “buy,” two recommend a “hold,” and one analyst recommends a “sell.” The consensus recommendation for the company is a “buy.”