Novozymes A/S (OTCMKTS:NVZMY) Short Interest Up 66,741.0% in March

Key Points

• Short interest surged 66,741% in March to 270,706 shares (about 0.1% of the stock) with a days-to-cover ratio of 0.8 days.
• Novozymes missed quarterly estimates, reporting EPS of $0.35 vs. $0.79 expected and revenue of $1.18 billion vs. $1.22 billion expected.
• Rothschild & Co Redburn upgraded the stock to a "strong-buy"; overall analyst coverage averages to a "Buy" (one Strong Buy, one Hold).

Novozymes A/S (OTCMKTS:NVZMY - Get Free Report) was the recipient of a large growth in short interest during the month of March. As of March 31st, there was short interest totaling 270,706 shares, a growth of 66,741.0% from the March 15th total of 405 shares. Currently, 0.1% of the company's stock are sold short. Based on an average trading volume of 359,621 shares, the days-to-cover ratio is presently 0.8 days.

Analysts Set New Price Targets

Separately, Rothschild & Co Redburn raised shares of Novozymes A/S to a "strong-buy" rating in a report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Novozymes A/S has an average rating of "Buy".

Novozymes A/S Stock Performance

Novozymes A/S stock traded up $0.06 during midday trading on Friday, reaching $60.04. The stock had a trading volume of 35,987 shares, compared to its average volume of 104,690. Novozymes A/S has a 12 month low of $49.90 and a 12 month high of $75.99. The firm's 50-day moving average price is $58.64 and its 200 day moving average price is $61.27. The firm has a market capitalization of $24.89 billion, a PE ratio of 42.89, a P/E/G ratio of 1.11 and a beta of 1.06. The company has a quick ratio of 0.44, a current ratio of 0.72 and a debt-to-equity ratio of 0.12.

Novozymes A/S (OTCMKTS:NVZMY - Get Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The biotechnology company reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.79 by ($0.44). Novozymes A/S had a net margin of 13.96% and a return on equity of 6.37%. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.22 billion. As a group, research analysts predict that Novozymes A/S will post 1.82 earnings per share for the current fiscal year.

About Novozymes A/S

Novozymes A/S is a Danish biotechnology company that develops, produces and markets industrial enzymes and microorganisms. Headquartered in Bagsværd, Denmark, the company focuses on using biological solutions to improve industrial processes across a range of end markets. Its offerings are designed to increase product performance or process efficiency while reducing energy, water and chemical consumption for customers.

The company's product portfolio includes enzymes and microbial solutions for household care (detergents and cleaning products), food and beverages (baking, brewing and dairy applications), bioenergy (enzymes for biofuel production), agriculture (microbial crop inputs and biocontrols) and industrial processing (textiles, pulp and paper, and wastewater treatment).

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