Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. NovoCure Ltd shares valued at $19,484 were sold by GROENHUYSEN WILHELMUS CM on Mar 04 ’24. At $16.01 per share, GROENHUYSEN WILHELMUS CM sold 1,217 shares. The insider’s holdings dropped to 251,235 shares worth approximately $3.67 million following the completion of this transaction.
Also, Leonard Frank X sold 840 shares, netting a total of over 13,448 in proceeds. Following the sale of shares at $16.01 each, the insider now holds 160,098 shares.
Before that, GROENHUYSEN WILHELMUS CM had sold 2,107 shares from its account. In a trade valued at $33,769, the Chief Operating Officer traded NovoCure Ltd shares for $16.03 each. Upon closing the transaction, the insider’s holdings decreased to 2,107 shares, worth approximately $3.69 million.
Analysts at H.C. Wainwright downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in late August. As of August 08, 2023, Piper Sandler has increased its “Neutral” rating to a “an Overweight” for NVCR. Earlier on August 04, 2023, SVB Securities initiated its rating. Their recommendation was “an Outperform” for NVCR stock.
Analyzing NVCR Stock Performance
During the last five days, there has been a surge of approximately 1.39%. Over the course of the year, NovoCure Ltd shares have dropped approximately -2.08%. Shares of the company reached a 52-week high of $18.04 on 03/08/24 and a 52-week low of $11.92 on 01/17/24. A 50-day SMA is recorded $14.97, while a 200-day SMA reached $19.39. Nevertheless, trading volume fell to 0.95 million shares from 1.13 million shares the previous day.
Support And Resistance Levels for NovoCure Ltd (NVCR)
According to the 24-hour chart, there is a support level at 14.24, which, if violated, would cause prices to drop to 13.86. In the upper region, resistance lies at 14.87. The next price resistance is at 15.12. RSI (Relative Strength Index) is 50.21 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.30, which suggests the price will decrease in the coming days. Percent R is at 45.23%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is NovoCure Ltd subject to short interest?
Stocks of NovoCure Ltd saw a sharp steep in short interest on Mar 15, 2024 dropping by -0.59 million shares to 5.54 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 6.13 million shares. A decline of -10.65% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.25 of the overall float, the days-to-cover ratio (short ratio) decline to 5.25.
