Novozymes A/S (OTCMKTS:NVZMY) Stock Breaks Below 50-Day Moving Average - Here's What Happened

Key Points

• Novozymes A/S shares fell below their 50-day moving average of $66.64, reaching as low as $62.82 before last trading at $63.94; the 200-day average stood at $62.49.
• Analyst sentiment remained favorable overall, with two Strong Buy ratings and one Hold rating, while Zacks upgraded the stock from Strong Sell to Hold. MarketBeat reported an average rating of Buy.
• The company reported quarterly earnings of $0.44 per share, missing estimates of $0.60, although revenue of $1.30 billion exceeded the $1.27 billion consensus forecast.

Novozymes A/S (OTCMKTS:NVZMY - Get Free Report)'s share price passed below its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $66.64 and traded as low as $62.8245. Novozymes A/S shares last traded at $63.94, with a volume of 36,911 shares traded.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded shares of Novozymes A/S from a "strong sell" rating to a "hold" rating in a research report on Monday, June 8th. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy".

Novozymes A/S Trading Up 2.1%

The company has a current ratio of 1.74, a quick ratio of 1.04 and a debt-to-equity ratio of 0.25. The company has a market cap of $26.51 billion, a PE ratio of 40.47, a PEG ratio of 2.81 and a beta of 0.89. The stock has a 50 day moving average price of $66.64 and a 200 day moving average price of $62.49.

Novozymes A/S (OTCMKTS:NVZMY - Get Free Report) last issued its quarterly earnings results on Thursday, August 20th. The biotechnology company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.16). The firm had revenue of $1.30 billion during the quarter, compared to analysts' expectations of $1.27 billion. Novozymes A/S had a return on equity of 6.54% and a net margin of 14.70%. Sell-side analysts predict that Novozymes A/S will post 2.45 EPS for the current fiscal year.

Institutional Trading of Novozymes A/S

An institutional investor recently raised its stake in Novozymes A/S stock. Elefante Mark B raised its stake in Novozymes A/S (OTCMKTS:NVZMY - Free Report) by 73.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,900 shares of the biotechnology company's stock after acquiring an additional 2,500 shares during the period. Elefante Mark B's holdings in Novozymes A/S were worth $371,000 as of its most recent SEC filing. 0.03% of the stock is currently owned by hedge funds and other institutional investors.

About Novozymes A/S

Novozymes A/S was a Danish biotechnology company specializing in biological solutions based on enzymes, microorganisms and related technologies. Its products were designed to help businesses improve manufacturing efficiency, reduce resource use and develop more sustainable alternatives to conventional chemical processes.

The company supplied enzyme and microbial products for a range of industries, including household care, food and beverages, agriculture, animal health, bioenergy and industrial manufacturing.

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