Novo Resources Corp Stock Probability of Future Stock Price Finishing Over 13.82
| NVO Stock | CAD 0.07 0.01 7.14% |
Novo |
Novo Resources Target Price Odds to finish over 13.82
The tendency of Novo Stock price to converge on an average value over time is a known aspect in finance that investors have used since the beginning of the stock market for forecasting. However, many studies suggest that some traded equity instruments are consistently mispriced before traders' demand and supply correct the spread. One possible conclusion to this anomaly is that these stocks have additional risk, for which investors demand compensation in the form of extra returns.
| Current Price | Horizon | Target Price | Odds to move over C$ 13.82 or more in 90 days |
| 0.07 | 90 days | 13.82 | close to zero percent |
Based on a normal probability distribution, the odds of Novo Resources to move over C$ 13.82 or more in 90 days from now is close to zero percent (This Novo Resources Corp probability density function shows the probability of Novo Stock to fall within a particular range of prices over 90 days) . Probability of Novo Resources Corp price to stay between its current price of C$ 0.07 and C$ 13.82 at the end of the 90-day period is under 95 .
Assuming the 90 days trading horizon Novo Resources has a beta of 0.77. This indicates as returns on the market go up, Novo Resources average returns are expected to increase less than the benchmark. However, during the bear market, the loss on holding Novo Resources Corp will be expected to be much smaller as well. Additionally Novo Resources Corp has a negative alpha, implying that the risk taken by holding this instrument is not justified. The company is significantly underperforming the Dow Jones Industrial. Novo Resources Price Density |
| Price |
Predictive Modules for Novo Resources
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Novo Resources Corp. Regardless of method or technology, however, to accurately forecast the stock market is more a matter of luck rather than a particular technique. Nevertheless, trying to predict the stock market accurately is still an essential part of the overall investment decision process. Using different forecasting techniques and comparing the results might improve your chances of accuracy even though unexpected events may often change the market sentiment and impact your forecasting results.Novo Resources Risk Indicators
For the most part, the last 10-20 years have been a very volatile time for the stock market. Novo Resources is not an exception. The market had few large corrections towards the Novo Resources' value, including both sudden drops in prices as well as massive rallies. These swings have made and broken many portfolios. An investor can limit the violent swings in their portfolio by implementing a hedging strategy designed to limit downside losses. If you hold Novo Resources Corp, one way to have your portfolio be protected is to always look up for changing volatility and market elasticity of Novo Resources within the framework of very fundamental risk indicators.α | Alpha over Dow Jones | -0.18 | |
β | Beta against Dow Jones | 0.77 | |
σ | Overall volatility | 0.01 | |
Ir | Information ratio | -0.04 |
Novo Resources Alerts and Suggestions
In today's market, stock alerts give investors the competitive edge they need to time the market and increase returns. Checking the ongoing alerts of Novo Resources for significant developments is a great way to find new opportunities for your next move. Suggestions and notifications for Novo Resources Corp can help investors quickly react to important events or material changes in technical or fundamental conditions and significant headlines that can affect investment decisions.| Novo Resources Corp generated a negative expected return over the last 90 days | |
| Novo Resources Corp has some characteristics of a very speculative penny stock | |
| Novo Resources Corp has high historical volatility and very poor performance | |
| Net Loss for the year was (48.89 M) with loss before overhead, payroll, taxes, and interest of (21.41 M). | |
| Novo Resources Corp has accumulated about 74.88 M in cash with (47.43 M) of positive cash flow from operations. This results in cash-per-share (CPS) ratio of 0.3, which can makes it an attractive takeover target, given it will continue generating positive cash flow. | |
| Latest headline from news.google.com: Novo Resources Sells Quartz Hill Stake for A850,000, Sharpens Focus on Pilbara Gold NSRPF Stock News - StockTitan |
Novo Resources Price Density Drivers
Market volatility will typically increase when nervous long traders begin to feel the short-sellers pressure to drive the market lower. The future price of Novo Stock often depends not only on the future outlook of the current and potential Novo Resources' investors but also on the ongoing dynamics between investors with different trading styles. Because the market risk indicators may have small false signals, it is better to identify suitable times to hedge a portfolio using different long/short signals. Novo Resources' indicators that are reflective of the short sentiment are summarized in the table below.
| Common Stock Shares Outstanding | 297.4 M | |
| Cash And Short Term Investments | 11.8 M |
Novo Resources Technical Analysis
Novo Resources' future price can be derived by breaking down and analyzing its technical indicators over time. Novo Stock technical analysis helps investors analyze different prices and returns patterns as well as diagnose historical swings to determine the real value of Novo Resources Corp. In general, you should focus on analyzing Novo Stock price patterns and their correlations with different microeconomic environments and drivers.
Novo Resources Predictive Forecast Models
Novo Resources' time-series forecasting models is one of many Novo Resources' stock analysis techniques aimed to predict future share value based on previously observed values. Time-series forecasting models are widely used for non-stationary data. Non-stationary data are called the data whose statistical properties, e.g., the mean and standard deviation, are not constant over time, but instead, these metrics vary over time. This non-stationary Novo Resources' historical data is usually called time series. Some empirical experimentation suggests that the statistical forecasting models outperform the models based exclusively on fundamental analysis to predict the direction of the stock market movement and maximize returns from investment trading.
Things to note about Novo Resources Corp
Checking the ongoing alerts about Novo Resources for important developments is a great way to find new opportunities for your next move. Our stock alerts and notifications screener for Novo Resources Corp help investors to be notified of important events, changes in technical or fundamental conditions, and significant headlines that can affect investment decisions.
| Novo Resources Corp generated a negative expected return over the last 90 days | |
| Novo Resources Corp has some characteristics of a very speculative penny stock | |
| Novo Resources Corp has high historical volatility and very poor performance | |
| Net Loss for the year was (48.89 M) with loss before overhead, payroll, taxes, and interest of (21.41 M). | |
| Novo Resources Corp has accumulated about 74.88 M in cash with (47.43 M) of positive cash flow from operations. This results in cash-per-share (CPS) ratio of 0.3, which can makes it an attractive takeover target, given it will continue generating positive cash flow. | |
| Latest headline from news.google.com: Novo Resources Sells Quartz Hill Stake for A850,000, Sharpens Focus on Pilbara Gold NSRPF Stock News - StockTitan |
Other Information on Investing in Novo Stock
Novo Resources financial ratios help investors to determine whether Novo Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Novo with respect to the benefits of owning Novo Resources security.