Novae Group Plc (LON:NVA) Downgraded by Peel Hunt

Novae Group Plc (LON:NVA) was downgraded by Peel Hunt to a “hold” rating in a research note issued on Wednesday, August 2nd. They currently have a GBX 665 ($8.66) target price on the stock. Peel Hunt’s price objective indicates a potential downside of 4.66% from the stock’s current price.

Several other equities research analysts also recently commented on NVA. Macquarie reissued an “outperform” rating and issued a GBX 729 ($9.49) price objective on shares of Novae Group Plc in a report on Tuesday, April 4th. Stockdale Securities reissued an “add” rating on shares of Novae Group Plc in a report on Tuesday, April 18th. Shore Capital reissued a “buy” rating on shares of Novae Group Plc in a report on Wednesday, May 10th. Canaccord Genuity cut their price objective on Novae Group Plc from GBX 680 ($8.86) to GBX 635 ($8.27) and set a “hold” rating for the company in a report on Wednesday, May 10th. Finally, Numis Securities Ltd downgraded Novae Group Plc to a “hold” rating and set a GBX 650 ($8.46) price objective for the company. in a report on Friday, May 12th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of GBX 685 ($8.92).

Shares of Novae Group Plc (NVA) opened at 697.50 on Wednesday. Novae Group Plc has a 1-year low of GBX 490.32 and a 1-year high of GBX 850.00. The firm has a 50-day moving average of GBX 669.53 and a 200-day moving average of GBX 624.42. The firm’s market capitalization is GBX 442.22 million.

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In other Novae Group Plc news, insider Reeken Patel purchased 81 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was acquired at an average price of GBX 570 ($7.42) per share, with a total value of £461.70 ($601.25). Insiders have acquired a total of 225 shares of company stock valued at $134,847 in the last ninety days.

About Novae Group Plc

Novae Group plc is a United Kingdom-based holding company. The Company is engaged in a diversified property and casualty (re)insurance business. The Company operates in three segments: Property; Casualty, and Marine, Aviation & Political Risk (MAP). The Property segment comprises approximately 10 underwriting units.

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