Meanwhile, 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 jump 0.37% to $110.13. Over the last five days, the stock has lost -1.65%. Novo Nordisk ADR shares have risen nearly 6.46% since the year began. Nevertheless, the stocks have risen 12.18% over the past one year. While a 52-week high of $148.15 was reached on 06/25/24, a 52-week low of $94.73 was recorded on 01/02/24. SMA at 50 days reached $123.15, while 200 days put it at $128.31.
Levels Of Support And Resistance For NVO Stock
The 24-hour chart illustrates a support level at 108.49, which if violated will result in even more drops to 106.84. On the upside, there is a resistance level at 111.04. A further resistance level may holdings at 111.94. The Relative Strength Index (RSI) on the 14-day chart is 28.50, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -3.29, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 75.57%. Stochastics %K at 28.36% 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 2024-10-15, growing by 0.56 million shares to a total of 6.36 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 5.8 million shares. There was a rise of 8.79%, 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.
