Novozymes A/S (OTCMKTS:NVZMY) Stock Price Crosses Below 50-Day Moving Average – Here’s Why

Novozymes A/S (OTCMKTS:NVZMY) shares passed below its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $66.64 and traded as low as $62.8245. Novozymes A/S shares last traded at $63.94, with a volume of 36,911 shares traded.

Novozymes A/S Trading Down 0.7%

The firm has a market cap of $26.76 billion, a price-to-earnings ratio of 40.85, a PEG ratio of 2.87 and a beta of 0.89. The company has a fifty day moving average price of $66.65 and a 200-day moving average price of $62.57. The company has a current ratio of 1.74, a quick ratio of 1.04 and a debt-to-equity ratio of 0.25.

Novozymes A/S (OTCMKTS:NVZMY) last announced its quarterly earnings results on Thursday, August 20th. The biotechnology company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.16). Novozymes A/S had a net margin of 14.70% and a return on equity of 6.54%. The company had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.27 billion. As a group, research analysts expect that Novozymes A/S will post 2.45 EPS for the current year.

Institutional Trading of Novozymes A/S

A hedge fund recently raised its position in Novozymes A/S stock. Elefante Mark B boosted its position in shares of Novozymes A/S (OTCMKTS:NVZMY) by 73.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,900 shares of the biotechnology company’s stock after buying an additional 2,500 shares during the quarter. Elefante Mark B’s holdings in Novozymes A/S were worth $371,000 at the end of the most recent reporting period. 0.03% of the stock is owned by institutional investors and hedge funds.

Novozymes A/S Company Profile

Novozymes A/S was a Danish biotechnology company specializing in biological solutions based on enzymes, microorganisms and related technologies. Its products were designed to help businesses improve manufacturing efficiency, reduce resource use and develop more sustainable alternatives to conventional chemical processes.

The company supplied enzyme and microbial products for a range of industries, including household care, food and beverages, agriculture, animal health, bioenergy and industrial manufacturing.