Novozymes A/S (OTCMKTS:NVZMY) Shares Gap Down - Here's Why

Key Points

• Shares of Novozymes A/S gapped down prior to trading, opening at $62.56 after closing at $64.71.
• Zacks Research downgraded Novozymes from a "strong-buy" to a "hold" rating, contributing to a consensus rating of "Moderate Buy".
• The company boasts a market capitalization of $30.14 billion and a P/E ratio of 40.73, indicating strong demand in its sector.

Shares of Novozymes A/S (OTCMKTS:NVZMY - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $64.71, but opened at $62.56. Novozymes A/S shares last traded at $63.34, with a volume of 132 shares.

Wall Street Analysts Forecast Growth

Separately, Zacks Research lowered shares of Novozymes A/S from a "strong-buy" rating to a "hold" rating in a report on Monday, August 25th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Novozymes A/S has a consensus rating of "Moderate Buy".

Novozymes A/S Stock Performance

The stock's 50-day simple moving average is $67.68 and its 200 day simple moving average is $65.30. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.04 and a current ratio of 1.66. The company has a market capitalization of $29.39 billion, a PE ratio of 39.72, a P/E/G ratio of 1.26 and a beta of 0.93.

Novozymes A/S Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, September 11th. Shareholders of record on Wednesday, September 3rd will be given a $0.1856 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a dividend yield of 88.0%. Novozymes A/S's dividend payout ratio is currently 23.42%.

Novozymes A/S Company Profile

Novozymes A/S produces and sells industrial enzymes, microorganisms, and probiotics in Denmark, rest of Europe, North America, Asia Pacific, the Middle East, Africa, Latin America, and internationally. The company offers protein solutions for the food and beverage industry. It also offers industrial hygiene, drain openers, hard surface, medical cleaning, septic tanks, ware washing, and professional laundry services.