Smart Money Is Betting Big In NVO Options
Portfolio Pulse from Benzinga Insights
Recent options trading activity for Novo Nordisk (NYSE:NVO) shows a bearish sentiment among investors, with 66% of trades being bearish. Significant trading activity has targeted a price range of $75.0 to $155.0 for NVO over the last 3 months. The company, a leader in diabetes-care products, has seen its stock price decrease by -1.98% to $125.03. Analysts have set an average target price of $160.0 for NVO, despite its current neutral RSI indicators and upcoming earnings release in 30 days.
April 02, 2024 | 3:16 pm
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Bearish options trading activity observed, with a significant focus on a price range of $75.0 to $155.0. Stock price currently at $125.03, with analysts setting an average target price of $160.0.
The bearish sentiment in options trading, combined with the current stock price decrease, suggests a short-term negative impact. However, the analyst target price of $160 indicates potential long-term growth, moderating the immediate negative outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100