Price Action To Observe: Time to Reconsider Cnova NV After Making 52-Week High?

Price Action To Observe: Time to Reconsider Cnova NV After Making 52 Week High?

The stock of Cnova NV (NASDAQ:CNV) hit a new 52-week high and has $8.37 target or 53.00% above today’s $5.47 share price. The 6 months bullish chart indicates low risk for the $2.41B company. The 1-year high was reported on Nov, 1 by Barchart.com. If the $8.37 price target is reached, the company will be worth $1.28 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 757,702 shares traded hands or 264.87% up from the average. Cnova NV (NASDAQ:CNV) has risen 79.87% since March 30, 2016 and is uptrending. It has outperformed by 76.85% the S&P500.

Cnova NV (NASDAQ:CNV) Ratings Coverage

Out of 7 analysts covering Cnova NV (NASDAQ:CNV), 1 rate it a “Buy”, 2 “Sell”, while 4 “Hold”. This means 14% are positive. $5.50 is the highest target while $1.60 is the lowest. The $3.63 average target is -33.64% below today’s ($5.47) stock price. Cnova NV has been the topic of 18 analyst reports since August 18, 2015 according to StockzIntelligence Inc. Deutsche Bank maintained it with “Hold” rating and $5.50 target price in Friday, May 13 report. The firm earned “Sell” rating on Monday, November 30 by Goldman Sachs. As per Tuesday, January 19, the company rating was reinitiated by HSBC. On Tuesday, August 18 the stock rating was upgraded by Zacks to “Sell”. The firm has “Overweight” rating by JP Morgan given on Wednesday, April 13. The rating was upgraded by Goldman Sachs to “Neutral” on Thursday, May 19. The firm has “Sell” rating given on Monday, September 21 by Zacks. The firm earned “Neutral” rating on Thursday, November 19 by JP Morgan. Bank of America downgraded the stock to “Neutral” rating in Thursday, October 29 report. The rating was downgraded by Morgan Stanley on Thursday, October 29 to “Equal-Weight”.

According to Zacks Investment Research, “Cnova NV operates as an e-commerce company. The Company’s product lines include appliances, customer electronics, computers, home furnishings, leisure, and personal goods. Its brands include sites Extra.com.br, Pontofrio.com, Casasbahia.com.br., Comptoirsante.com, Moncornerdeco.com, Monshowroom.com and Barateiro.com.br. Cnova also offers B2B solutions, such as eHub, an e-commerce platform solution for third parties. The Company offers its services through direct sales and marketplaces. It has operations in Brazil, France, Colombia, Ecuador, Thailand, Vietnam, Ivory Coast, Belgium and Senegal. Cnova, N.V. is based in Eindhoven, the Netherlands.”

Insitutional Activity: The institutional sentiment increased to 1.67 in 2016 Q2. Its up 1.25, from 0.42 in 2016Q1. The ratio improved, as 1 funds sold all Cnova NV shares owned while 5 reduced positions. 3 funds bought stakes while 7 increased positions. They now own 8.69 million shares or 19.07% more from 7.30 million shares in 2016Q1.
Bnp Paribas Arbitrage Sa has invested 0% of its portfolio in Cnova NV (NASDAQ:CNV). Geode Capital Management Llc holds 0% or 183,725 shares in its portfolio. Credit Agricole S A last reported 0% of its portfolio in the stock. The New York-based Fny Managed Accounts Ltd has invested 0% in Cnova NV (NASDAQ:CNV). Sylebra Hk holds 0.38% of its portfolio in Cnova NV (NASDAQ:CNV) for 821,886 shares. Boussard Gavaudan Inv Management Llp holds 2.62% of its portfolio in Cnova NV (NASDAQ:CNV) for 1.83M shares. Credit Suisse Ag holds 0% of its portfolio in Cnova NV (NASDAQ:CNV) for 179,431 shares. Goldman Sachs Gru holds 29,330 shares or 0% of its portfolio. California Employees Retirement Sys holds 66,200 shares or 0% of its portfolio. Invesco reported 2.97M shares or 0.01% of all its holdings. Barclays Public Limited Liability Corp holds 0% of its portfolio in Cnova NV (NASDAQ:CNV) for 39,822 shares. Tower Research Ltd Liability Com (Trc) holds 540 shares or 0% of its portfolio. Citigroup owns 630 shares or 0% of their US portfolio. Fmr Ltd Co holds 0% or 1.73 million shares in its portfolio. The New York-based Morgan Stanley has invested 0% in Cnova NV (NASDAQ:CNV).

More notable recent Cnova NV (NASDAQ:CNV) news were published by: Nasdaq.com which released: “Cnova N.V.: Shareholders approve the reorganization of CNOVA N.V.”s Brazilian …” on October 27, 2016, also Streetinsider.com with their article: “Cnova N.V. (CNV) to Reorganization Brazilian Activities” published on August 08, 2016, Prnewswire.com published: “Cnova NV Launches Initial Public Offering” on October 31, 2014. More interesting news about Cnova NV (NASDAQ:CNV) were released by: Nasdaq.com and their article: “Cnova N.V. Publishes Notice for Extraordinary General Meeting” published on September 15, 2016 as well as Globenewswire.com‘s news article titled: “Cnova N.V. Publishes 2014 U.S. Annual Report on Form 20-F” with publication date: March 31, 2015.

CNV Company Profile

Cnova N.V., incorporated on May 30, 2014, is an e-commerce firm with its two markets in France and Brazil. The Firm offers differentiated delivery and payment solutions. It operates through three divisions: Cdiscount France, Cdiscount International and Cnova Brazil. The Cdiscount France segment is engaged in the retail sales of consumer products through Cdiscount.com and specialized Websites in France. The Cdiscount International segment is engaged in retail sales of consumer products through Websites created by Cdiscount S.A. (Cdiscount) outside of France. The Cnova Brazil segment is engaged in retail sales of consumer products through Websites in Brazil, which include Extra.com.br, PontoFrio.com.br, CasasBahia.com.br, Barateiro.com.br, PartiuViagens.com.br, and wholesale activities and E-Hub. As of December 31, 2015, it offered approximately 29 million product offerings on its sites through its direct sales and marketplace businesses across a range of categories, such as consumer electronics, home appliances, home furnishings, computers, personal goods, leisure and other.

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