Nova Measuring Instruments Ltd (NASDAQ:NVMI) close to 52-week high, short interest surging

Nova Measuring Instruments Ltd (NASDAQ:NVMI) (TREND ANALYSIS) shares were traded with thin volume. The stock closed last trading session at $11.36, down by -0.35%, with a volume of 24,974 shares against an average volume for the last 3 months of 40,526.

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NVMI reported last quarter earnings on May 12. The Semiconductor Equipment company announced earnings per share of $0.13 against a consensus Street estimate of $0.04, beating the average estimate by $0.09. This corresponds to a decrease of $0.07 compared to the same quarter of the previous fiscal year.

Nova Measuring Instruments Ltd (NASDAQ:NVMI) is currently trading 6.81% below its 52-week-high, 19.58% above its 52-week-low. The 1-year range for the stock is $9.5 – $12.19. Nova Measuring Instruments Ltd (NVMI) has a price to earnings ratio of 16.96 versus Technology sector average of 16.8. NVMI stock price has outperformed the Nasdaq by 5%. The Semiconductor Equipment company is currently valued at $0.31 billion and its share price closed the last trading session at $11.36. The stock has a 50-day moving average of $11.57 and a 200-day moving average of $10.98.

Nova Measuring Instruments Ltd (NVMI) current short interest stands at 0.07 million shares. It has increased by 39% from the same period of last month. Around 1% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.04 million shares, the number of days required to cover the short positions stand at 1.9 days.

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There are currently three analysts that cover NVMI stock. Of those three, two have a Buy rating, one has a Hold rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $13.67.

A recent analyst activity consisted of Canaccord Genuity who resumed their coverage on the stock with Hold rating on March 6. Canaccord Genuity fixed their price target at $12. This corresponds to a 5.63% upside from the last closing price. On the date of report, the stock closed at $11.43.

Company profile

Nova Measuring Instruments Ltd. develops, produces, and markets monitoring and measurement systems for the semiconductor manufacturing industry. The Company provides integrated monitoring and process control systems for other integrated circuit manufacturing processes.

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