Novo Resources Corp. (NVO.V) (CVE:NVO) Shares Pass Below 200-Day Moving Average of $2.38

Shares of Novo Resources Corp. (NVO.V) (CVE:NVO) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$2.38 and traded as low as C$2.37. Novo Resources Corp. (NVO.V) shares last traded at C$2.38, with a volume of 311,570 shares traded.

Separately, Pi Financial raised Novo Resources Corp. (NVO.V) from a “neutral” rating to a “buy” rating and raised their price target for the stock from C$3.05 to C$3.25 in a research note on Thursday, June 3rd.

The company has a debt-to-equity ratio of 11.62, a current ratio of 2.78 and a quick ratio of 2.57. The firm has a 50-day simple moving average of C$2.38 and a 200 day simple moving average of C$2.38. The firm has a market cap of C$548.24 million and a PE ratio of -21.25.

In other Novo Resources Corp. (NVO.V) news, Director Quinton Todd Hennigh sold 26,000 shares of Novo Resources Corp. (NVO.V) stock in a transaction on Friday, August 20th. The stock was sold at an average price of C$1.90, for a total value of C$49,400.00. Following the completion of the sale, the director now owns 3,177,400 shares of the company’s stock, valued at approximately C$6,037,060. Also, Senior Officer Ronan Joseph Sabo-Walsh sold 100,000 shares of Novo Resources Corp. (NVO.V) stock in a transaction dated Wednesday, August 18th. The stock was sold at an average price of C$1.96, for a total value of C$196,060.00. Following the completion of the sale, the insider now owns 18,550 shares of the company’s stock, valued at C$36,369.13. In the last 90 days, insiders sold 276,000 shares of company stock worth $548,565.

About Novo Resources Corp. (NVO.V) (CVE:NVO)

Novo Resources Corp., together with its subsidiaries, engages in evaluating, acquiring, and exploring natural resource properties in Canada, Australia, and the United States. It primarily explores for gold deposits. The company primarily focuses on the Egina and Beatons Creek projects in the Pilbara region of Western Australia.

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