Novozymes A/S (OTCMKTS:NVZMY) Shares Pass Above 50 Day Moving Average – Here’s Why

Novozymes A/S (OTCMKTS:NVZMY) shares crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $58.56 and traded as high as $61.02. Novozymes A/S shares last traded at $60.24, with a volume of 74,688 shares.

Wall Street Analysts Forecast Growth

Separately, Rothschild & Co Redburn upgraded Novozymes A/S to a “strong-buy” rating in a report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Novozymes A/S Stock Up 0.5%

The company has a fifty day moving average of $58.56 and a two-hundred day moving average of $61.27. The company has a market cap of $24.97 billion, a PE ratio of 43.03, a price-to-earnings-growth ratio of 1.13 and a beta of 1.06. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.44 and a current ratio of 0.72.

Novozymes A/S (OTCMKTS:NVZMY) last released its quarterly earnings results on Wednesday, February 25th. The biotechnology company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.44). Novozymes A/S had a net margin of 13.96% and a return on equity of 6.37%. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.22 billion. As a group, analysts anticipate that Novozymes A/S will post 2.42 earnings per share for the current fiscal year.

About Novozymes A/S

Novozymes A/S is a Danish biotechnology company that develops, produces and markets industrial enzymes and microorganisms. Headquartered in Bagsværd, Denmark, the company focuses on using biological solutions to improve industrial processes across a range of end markets. Its offerings are designed to increase product performance or process efficiency while reducing energy, water and chemical consumption for customers.

The company’s product portfolio includes enzymes and microbial solutions for household care (detergents and cleaning products), food and beverages (baking, brewing and dairy applications), bioenergy (enzymes for biofuel production), agriculture (microbial crop inputs and biocontrols) and industrial processing (textiles, pulp and paper, and wastewater treatment).