While this happened, 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 2.83% to $102.63. Over the last five days, the stock has lost -4.14%. Novo Nordisk ADR shares have fallen nearly -0.79% since the year began. Nevertheless, the stocks have risen 1.22% 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 11/18/24. SMA at 50 days reached $117.39, while 200 days put it at $128.04.
Levels Of Support And Resistance For NVO Stock
The 24-hour chart illustrates a support level at 101.47, which if violated will result in even more drops to 100.32. On the upside, there is a resistance level at 103.45. A further resistance level may holdings at 104.28. The Relative Strength Index (RSI) on the 14-day chart is 32.04, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -5.50, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 76.40%. Stochastics %K at 12.30% indicates the stock is a buying.
How much short interest is there in Novo Nordisk ADR?
A steep rise in short interest was recorded in Novo Nordisk ADR stocks on 2024-10-31, dropping by -0.98 million shares to a total of 6.05 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 7.03 million shares. There was a decline of -16.16%, which implies that there is a negative 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.
