Nova Stock Market Value

NVMI Stock  USD 179.74  0.81  0.45%   
Nova's market value is the price at which a share of Nova trades on a public exchange. It measures the collective expectations of Nova investors about its performance. Nova is trading at 179.74 as of the 28th of March 2024. This is a 0.45 percent increase since the beginning of the trading day. The stock's open price was 178.93.
With this module, you can estimate the performance of a buy and hold strategy of Nova and determine expected loss or profit from investing in Nova over a given investment horizon. Check out Nova Correlation, Nova Volatility and Nova Alpha and Beta module to complement your research on Nova.
For more detail on how to invest in Nova Stock please use our How to Invest in Nova guide.
Symbol

Nova Price To Book Ratio

Is Nova's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Nova. If investors know Nova will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Nova listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth
0.043
Earnings Share
4.28
Revenue Per Share
17.966
Quarterly Revenue Growth
(0.11)
Return On Assets
0.0781
The market value of Nova is measured differently than its book value, which is the value of Nova that is recorded on the company's balance sheet. Investors also form their own opinion of Nova's value that differs from its market value or its book value, called intrinsic value, which is Nova's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Nova's market value can be influenced by many factors that don't directly affect Nova's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Nova's value and its price as these two are different measures arrived at by different means. Investors typically determine if Nova is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Nova's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.

Nova 'What if' Analysis

In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Nova's stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Nova.
0.00
02/27/2024
No Change 0.00  0.0 
In 30 days
03/28/2024
0.00
If you would invest  0.00  in Nova on February 27, 2024 and sell it all today you would earn a total of 0.00 from holding Nova or generate 0.0% return on investment in Nova over 30 days. Nova is related to or competes with Diodes Incorporated, Daqo New, MagnaChip Semiconductor, Nano Labs, ON Semiconductor, and Impinj. Nova Ltd. designs, develops, produces, and sells process control systems used in the manufacture of semiconductors in Is... More

Nova Upside/Downside Indicators

Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Nova's stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Nova upside and downside potential and time the market with a certain degree of confidence.

Nova Market Risk Indicators

Today, many novice investors tend to focus exclusively on investment returns with little concern for Nova's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Nova's standard deviation. In reality, there are many statistical measures that can use Nova historical prices to predict the future Nova's volatility.
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Nova's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Hype
Prediction
LowEstimatedHigh
177.06179.49181.92
Details
Intrinsic
Valuation
LowRealHigh
159.93162.36197.71
Details
Naive
Forecast
LowNextHigh
178.87181.30183.73
Details
5 Analysts
Consensus
LowTargetHigh
120.12132.00146.52
Details
Please note, it is not enough to conduct a financial or market analysis of a single entity such as Nova. Your research has to be compared to or analyzed against Nova's peers to derive any actionable benefits. When done correctly, Nova's competitive analysis will give you plenty of quantitative and qualitative data to validate your investment decisions or develop an entirely new strategy toward taking a position in Nova.

Nova Backtested Returns

Nova appears to be very steady, given 3 months investment horizon. Nova has Sharpe Ratio of 0.19, which conveys that the firm had a 0.19% return per unit of risk over the last 3 months. We have found thirty technical indicators for Nova, which you can use to evaluate the volatility of the firm. Please exercise Nova's Downside Deviation of 1.86, mean deviation of 1.83, and Risk Adjusted Performance of 0.1153 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Nova holds a performance score of 14. The company secures a Beta (Market Risk) of 1.75, which conveys a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Nova will likely underperform. Please check Nova's downside variance, as well as the relationship between the accumulation distribution and market facilitation index , to make a quick decision on whether Nova's current price movements will revert.

Auto-correlation

    
  0.44  

Average predictability

Nova has average predictability. Overlapping area represents the amount of predictability between Nova time series from 27th of February 2024 to 13th of March 2024 and 13th of March 2024 to 28th of March 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Nova price movement. The serial correlation of 0.44 indicates that just about 44.0% of current Nova price fluctuation can be explain by its past prices.
Correlation Coefficient0.44
Spearman Rank Test0.25
Residual Average0.0
Price Variance31.07

Nova lagged returns against current returns

Autocorrelation, which is Nova stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Nova's stock expected returns. We can calculate the autocorrelation of Nova returns to help us make a trade decision. For example, suppose you find that Nova has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
   Current and Lagged Values   
       Timeline  

Nova regressed lagged prices vs. current prices

Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Nova stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nova stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Nova stock over time.
   Current vs Lagged Prices   
       Timeline  

Nova Lagged Returns

When evaluating Nova's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Nova stock have on its future price. Nova autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Nova autocorrelation shows the relationship between Nova stock current value and its past values and can show if there is a momentum factor associated with investing in Nova.
   Regressed Prices   
       Timeline  

Nova Investors Sentiment

The influence of Nova's investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in Nova. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock market does not have solid backing from leading economists and market statisticians.
Investor biases related to Nova's public news can be used to forecast risks associated with an investment in Nova. The trend in average sentiment can be used to explain how an investor holding Nova can time the market purely based on public headlines and social activities around Nova. Please note that most equities that are difficult to arbitrage are affected by market sentiment the most.
Nova's market sentiment shows the aggregated news analyzed to detect positive and negative mentions from the text and comments. The data is normalized to provide daily scores for Nova's and other traded tickers. The bigger the bubble, the more accurate is the estimated score. Higher bars for a given day show more participation in the average Nova's news discussions. The higher the estimated score, the more favorable is the investor's outlook on Nova.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Nova in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Nova's short interest history, or implied volatility extrapolated from Nova options trading.

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When determining whether Nova offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Nova's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Nova Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Nova Stock:
Check out Nova Correlation, Nova Volatility and Nova Alpha and Beta module to complement your research on Nova.
For more detail on how to invest in Nova Stock please use our How to Invest in Nova guide.
You can also try the Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.

Complementary Tools for Nova Stock analysis

When running Nova's price analysis, check to measure Nova's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Nova is operating at the current time. Most of Nova's value examination focuses on studying past and present price action to predict the probability of Nova's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Nova's price. Additionally, you may evaluate how the addition of Nova to your portfolios can decrease your overall portfolio volatility.
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Nova technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.
A focus of Nova technical analysis is to determine if market prices reflect all relevant information impacting that market. A technical analyst looks at the history of Nova trading pattern rather than external drivers such as economic, fundamental, or social events. It is believed that price action tends to repeat itself due to investors' collective, patterned behavior. Hence technical analysis focuses on identifiable price trends and conditions. More Info...