On 10/15/24, Nova Ltd (NASDAQ: NVMI) stock suffered a major decline of -10.3%, closing at $198.74. Moreover, trading volume in this decline was above average at 132% of normal. The stock has been exceptionally strong relative to the market over the last nine months but has declined -0.9% during the last week.
Current PriceTarget Research Rating
NVMI is expected to continue to be an important Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
Nova has a current Value Trend Rating of C (High Neutral). The Value Trend Rating reflects very contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Nova has a slightly negative Appreciation Score of 33 but a very high Power Rating of 92, leading to the High Neutral Value Trend Rating.
Rating Review
In light of this highly negative price change we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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