Novae Group Plc (NVA) Given “Buy” Rating at Shore Capital
Shore Capital restated their buy rating on shares of Novae Group Plc (LON:NVA) in a research note issued to investors on Friday morning. Shore Capital currently has a GBX 698 ($9.06) target price on the stock.
Several other research firms have also weighed in on NVA. Peel Hunt lowered Novae Group Plc to a hold rating and set a GBX 665 ($8.63) price objective on the stock. in a research note on Wednesday, August 2nd. Canaccord Genuity reduced their price objective on Novae Group Plc from GBX 680 ($8.83) to GBX 635 ($8.24) and set a hold rating on the stock in a research note on Wednesday, May 10th. Stockdale Securities reaffirmed an add rating on shares of Novae Group Plc in a research note on Thursday, April 27th. Numis Securities Ltd lowered Novae Group Plc to a hold rating and set a GBX 650 ($8.44) price objective on the stock. in a research note on Friday, May 12th. Finally, Macquarie reduced their price objective on Novae Group Plc from GBX 729 ($9.46) to GBX 715 ($9.28) and set an outperform rating on the stock in a research note on Friday, May 12th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of GBX 687.17 ($8.92).
Novae Group Plc (LON NVA) traded up 1.79% during midday trading on Friday, hitting GBX 710.00. 899,715 shares of the stock traded hands. The stock has a 50-day moving average of GBX 701.61 and a 200 day moving average of GBX 629.26. The firm’s market cap is GBX 450.14 million. Novae Group Plc has a 52-week low of GBX 490.32 and a 52-week high of GBX 850.00.
In related news, insider Reeken Patel purchased 81 shares of Novae Group Plc stock in a transaction that occurred on Monday, July 3rd. The shares were purchased at an average cost of GBX 570 ($7.40) per share, with a total value of £461.70 ($599.38). Insiders bought a total of 225 shares of company stock worth $134,847 over the last ninety days.
About Novae Group Plc
Novae Group plc is a United Kingdom-based holding company. The Company is engaged in a diversified property and casualty (re)insurance business. The Company operates in three segments: Property; Casualty, and Marine, Aviation & Political Risk (MAP). The Property segment comprises approximately 10 underwriting units.
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