Following these proceedings, Goldman initiated its Novo Nordisk ADR [NVO] rating to a Buy in a research note published on May 30, 2024; the price target was $156. A number of analysts have revised their coverage, including BMO Capital Markets’s analysts, who began to cover the stock in mid April with a ‘”an Outperform”‘ rating. Morgan Stanley began covering NVO with “an Overweight” recommendation on January 23, 2024.
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Price Performance Review of NVO
On Tuesday, Novo Nordisk ADR [NYSE:NVO] saw its stock fall -1.64% to $117.81. Over the last five days, the stock has gained 0.52%. Novo Nordisk ADR shares have risen nearly 13.88% since the year began. Nevertheless, the stocks have risen 15.34% over the past one year. While a 52-week high of $148.15 was reached on 06/25/24, a 52-week low of $92.94 was recorded on 01/02/24. SMA at 50 days reached $128.83, while 200 days put it at $127.70.
Levels Of Support And Resistance For NVO Stock
The 24-hour chart illustrates a support level at 116.94, which if violated will result in even more drops to 116.07. On the upside, there is a resistance level at 118.88. A further resistance level may holdings at 119.96. The Relative Strength Index (RSI) on the 14-day chart is 38.34, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.93, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 66.02%. Stochastics %K at 40.85% indicates the stock is a holding.
How much short interest is there in Novo Nordisk ADR?
A steep rise in short interest was recorded in Novo Nordisk ADR stocks on 2024-09-30, growing by 1.9 million shares to a total of 7.03 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 5.13 million shares. There was a rise of 27.08%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on December 01, 2023 when Cantor Fitzgerald began covering the stock and recommended ‘”an Overweight”‘ rating along with a $120 price target.
