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Market Overview

Novell Falls Nearly 7% (NOVL)

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Shares of Novell, Inc. (Nasdaq: NOVL) are trading down nearly 7% at $6.06 per share on Thursday afternoon. The day's trading range for shares of Novell, Inc has been between $5.93 and $6.15 per share.

Analysts covering the company's stock have a consensus price target of just $5.75 per share.

Reuters reported that private equity firms have been unwilling to pay Novell's asking price for its NetWare and identity management products.

Although the stock's price is down considerably, it has recovered somewhat from morning trading when it started the day trading at $5.94 per share, down from the previous day's closing price of $6.51 per share.

Volume of 7.8 million shares is already more than double the daily average volume of 3.6 million shares.

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