The stock of Nuvista Energy Ltd (TSE:NVA) gapped up by $0.08 today and has $10.76 target or 52.00% above today’s $7.08 share price. The 8 months technical chart setup indicates low risk for the $1.22 billion company. The gap was reported on Nov, 21 by Barchart.com. If the $10.76 price target is reached, the company will be worth $634.40M 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 338,842 shares traded hands. Nuvista Energy Ltd (TSE:NVA) has risen 46.14% since April 15, 2016 and is uptrending. It has outperformed by 42.28% 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 13.28% above today’s ($7.08) stock price. Nuvista Energy Ltd. has been the topic of 28 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Desjardins Securities maintained the stock with “Buy” rating in Thursday, August 11 report. TD Securities maintained it with “Buy” rating and $8.50 target price in Friday, August 12 report. As per Friday, February 12, the company rating was initiated by BMO Capital Markets. The firm earned “Buy” rating on Wednesday, August 12 by TD Securities. The firm has “Outperform” rating given on Monday, October 31 by RBC Capital Markets. The stock has “” rating given by Desjardins Securities on Tuesday, June 28. The company was maintained on Monday, June 6 by Raymond James. The stock has “Outperform” rating given by Scotia Capital on Thursday, August 11.
More recent Nuvista Energy Ltd (TSE:NVA) news were published by: Businessinsider.com which released: “BRIEF-Nuvista Energy Ltd expects production for 2017 to average about 28000 …” on October 12, 2016. Also Marketwired.com published the news titled: “NuVista Energy Ltd. Announces Bought Deal Financing and Concurrent Private …” on April 07, 2015. Marketwired.com‘s news article titled: “NuVista Energy Ltd. Provides 5-Year Plan to 60000+ Boe/d, Announces New Gas …” with publication date: October 11, 2016 was also an interesting one.
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 $1.22 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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