NovoCure (NASDAQ:NVCR) Sees Unusually-High Trading Volume - Here's Why

Shares of NovoCure Limited (NASDAQ:NVCR - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 3,162,298 shares changed hands during mid-day trading, an increase of 175% from the previous session's volume of 1,151,617 shares.The stock last traded at $17.02 and had previously closed at $17.04.

Analyst Upgrades and Downgrades

NVCR has been the topic of a number of recent research reports. Wedbush cut their target price on shares of NovoCure from $29.00 to $27.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Wall Street Zen cut shares of NovoCure from a "hold" rating to a "sell" rating in a report on Friday, April 25th. JPMorgan Chase & Co. cut their target price on shares of NovoCure from $29.00 to $28.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Finally, Piper Sandler cut their target price on shares of NovoCure from $42.00 to $34.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $32.83.

NovoCure Stock Performance

The stock has a fifty day moving average price of $17.40 and a two-hundred day moving average price of $21.87. The company has a market cap of $1.86 billion, a P/E ratio of -11.94 and a beta of 0.73. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.49 and a quick ratio of 1.44.

NovoCure (NASDAQ:NVCR - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The medical equipment provider reported ($0.31) EPS for the quarter, beating analysts' consensus estimates of ($0.47) by $0.16. The business had revenue of $154.99 million for the quarter, compared to analyst estimates of $147.57 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The business's revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.36) earnings per share. On average, equities analysts forecast that NovoCure Limited will post -1.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. GeoWealth Management LLC acquired a new position in NovoCure in the fourth quarter worth approximately $27,000. Lindbrook Capital LLC grew its position in NovoCure by 189.2% in the fourth quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider's stock worth $55,000 after buying an additional 1,213 shares during the last quarter. Blue Trust Inc. grew its position in NovoCure by 70.7% in the fourth quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider's stock worth $56,000 after buying an additional 781 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in NovoCure in the fourth quarter worth approximately $68,000. Finally, SBI Securities Co. Ltd. acquired a new position in NovoCure in the fourth quarter worth approximately $70,000. Institutional investors and hedge funds own 84.61% of the company's stock.

NovoCure Company Profile

NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of tumor treating fields (TTFields) devices for the treatment of solid tumor cancers in the United States, Germany, Japan, Greater China, and internationally. The company's TTFields devices include Optune Gio and Optune Lua.