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Tuesday, October 27, 2020

Investor Confidence is Rising for Nova Measuring Instruments Ltd. (NASDAQ:NVMI)

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Nova Measuring Instruments Ltd. (NVMI) shares are trading at higher $58.51 and the avg recommendation for the stock is Moderate Buy, while the current analyst price target stands at $59.00.

To add more color to this target, the company’s high over the last year is $57.87 and the low is $25.70. Over the last 52 weeks, NVMI is up 81.88% while the S&P 500 is up 18.31%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, NVMI reported a profit of $36.6 million. Nova Measuring Instruments Ltd. also saw revenues increase to $62.59 million. In addition, NVMI has free cash flow of $29.43 million as of 06-2020. The company’s EBITDA came in at $12.35 million which compares well with its peers.

NVMI booked profit margins of 17.20%, its Return on Equity (ROE) is 12.90%, and its Return on Assets is 10.20%. All told, it is clear that, NVMI needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. NVMI has a short ratio of 2.94 and outstanding shares of 28.04M.

Company Outlook

NVMI has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 47000.0 and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 1.42. Nova Measuring Instruments Ltd. NVMI also noted assets of $423.4 million at the end of the last quarter. Investors should also keep an eye on sector updates as NVMI has historically followed its peers on positive news.

All told, Nova Measuring Instruments Ltd. NVMI has strung together solid data and demonstrated underlying fundamentals. At its current valuation, NVMI represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Nova Measuring Instruments Ltd. NVMI is now commanding a market cap of 1.61B and a float of 27.82M. NVMI is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of NVMI stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in NVMI, either long or short, and we have not been compensated for this article.

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