Novus Therapeutics, Inc. (NASDAQ:NVUS) is among the top losers of the stock market today, sinking -18.02% or (-0.11 points) to $0.5 from its previous close of $0.61. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 160549 contracts so far this session. NVUS shares had a relatively better volume day versus average trading capacity of 78.89 million shares, but with a 10.78 million float and a 1.55% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for NVUS stock indicates that the average analyst price target is $4.83 per share. This means the stock has a potential increase of 866% from where the NVUS share price has been trading recently which is between $0.5848 and $0.6283. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $2. Flipping the other side of the coin, an analyst who is fully bullish set a price target as high as $2.5.
During the recent trading session for Novus Therapeutics, Inc. (NASDAQ:NVUS), the company witnessed their stock drop by $-0.04 over a week and tumble down $-0.09 from the price 20 days ago. When compared to their established 52-week high of $5.21, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 02/27/19. The recent low of $0.4 stood for a -90.4% since 10/16/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.83 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to. At the moment, the median target price for NVUS is set at $2.25, a figure which is below the recent 1-year high the stock witnessed.
Looking at the current readings for Novus Therapeutics, Inc., the two-week RSI stands at 34.35. This figure suggests that NVUS stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current NVUS readings is similarly very revealing as it has a stochastic reading of 23.33% at this stage. This figure means that NVUS share price today is being overbought.
Technical chart claims that Novus Therapeutics, Inc. (NVUS) would settle between $0.63/share to $0.65/share level. However, if the stock price goes below the $0.59 mark, then the market for Novus Therapeutics, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $0.56 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.02. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Ascendiant Capital Markets, assumed coverage of NVUS assigning Buy rating, according to their opinion released on February 13.
NVUS equity has an average rating of 2.38, with the figure leaning towards a bullish end. 3 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 3 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 3 analysts rated Novus Therapeutics, Inc. (NASDAQ:NVUS) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.