The stock of Nuvista Energy Ltd (TSE:NVA) gapped up by $0.01 today and has $10.67 target or 52.00% above today’s $7.02 share price. The 8 months technical chart setup indicates low risk for the $1.24B company. The gap was reported on Nov, 15 by Barchart.com. If the $10.67 price target is reached, the company will be worth $644.80 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 256,237 shares traded hands. Nuvista Energy Ltd (TSE:NVA) has risen 40.54% since April 11, 2016 and is uptrending. It has outperformed by 36.61% the S&P500.
Nuvista Energy Ltd (TSE:NVA) Ratings Coverage
Out of 8 analysts covering Nuvista Energy Ltd. (TSE:NVA), 7 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 88% are positive. $10.25 is the highest target while $4.85 is the lowest. The $8.02 average target is 14.25% above today’s ($7.02) stock price. Nuvista Energy Ltd. has been the topic of 28 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Nuvista Energy Ltd (TSE:NVA) has “Buy” rating given on Thursday, August 11 by Desjardins Securities. The company was maintained on Friday, August 12 by TD Securities. The firm has “” rating by Raymond James given on Monday, June 6. The firm earned “Buy” rating on Wednesday, August 12 by TD Securities. As per Thursday, August 11, the company rating was maintained by Scotia Capital. The stock of Nuvista Energy Ltd (TSE:NVA) earned “Market Perform” rating by BMO Capital Markets on Friday, February 12. RBC Capital Markets maintained the shares of NVA in a report on Monday, October 31 with “Outperform” rating. Desjardins Securities maintained Nuvista Energy Ltd (TSE:NVA) on Tuesday, June 28 with “” rating.
More notable recent Nuvista Energy Ltd (TSE:NVA) news were published by: Marketwired.com which released: “NuVista Energy Ltd. Provides 5-Year Plan to 60000+ Boe/d, Announces New Gas …” on October 11, 2016, also Marketwired.com with their article: “NuVista Energy Ltd. Announces $21.5 Million CDE Flow Through Equity Financing” published on June 15, 2016, Marketwired.com published: “NuVista Energy Ltd. Announces Bought Deal Financing and Concurrent Private …” on April 07, 2015. More interesting news about Nuvista Energy Ltd (TSE:NVA) were released by: Businessinsider.com and their article: “BRIEF-Nuvista Energy Ltd expects production for 2017 to average about 28000 …” published on October 12, 2016 as well as Marketwired.com‘s news article titled: “NuVista Energy Ltd. Announces Closing of Equity Financing” with publication date: October 28, 2016.
NuVista Energy Ltd. is an exploration and production company, which is engaged in exploration, development and production of oil and natural gas reserves in the Western Canadian Sedimentary Basin. The company has a market cap of $1.24 billion. The Company’s primary focus is on Montney formation in the Alberta Deep Basin (Wapiti Montney). It currently has negative earnings. The Company’s products include natural gas, and condensate and oil.
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