Neovasc Inc. (NASDAQ:NVCN) (TSE:NVC) hit a new 52-week high and low on Wednesday . The stock traded as low as $0.03 and last traded at $0.03, with a volume of 2314550 shares trading hands. The stock had previously closed at $0.03.
Several brokerages have recently weighed in on NVCN. ValuEngine raised Neovasc from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 2nd. Zacks Investment Research cut Neovasc from a “hold” rating to a “sell” rating in a research note on Thursday, April 5th. Canaccord Genuity decreased their price target on Neovasc from $1.05 to $0.50 and set a “buy” rating for the company in a research note on Thursday, March 29th. Finally, Leerink Swann decreased their price target on Neovasc from $5.00 to $2.00 and set an “outperform” rating for the company in a research note on Thursday, March 29th.
The company has a market capitalization of $63.04 million, a P/E ratio of -0.09 and a beta of 1.24. The company has a debt-to-equity ratio of -0.73, a current ratio of 0.92 and a quick ratio of 0.90.
Neovasc (NASDAQ:NVCN) (TSE:NVC) last released its earnings results on Wednesday, March 28th. The medical equipment provider reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). Neovasc had a negative return on equity of 85.81% and a negative net margin of 1,687.90%. The business had revenue of $1.23 million for the quarter, compared to analyst estimates of $1.18 million. equities research analysts predict that Neovasc Inc. will post -0.09 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVCN. Hudson Bay Capital Management LP acquired a new stake in Neovasc during the fourth quarter worth approximately $6,213,000. Gagnon Securities LLC boosted its holdings in Neovasc by 37.4% in the first quarter. Gagnon Securities LLC now owns 4,241,897 shares of the medical equipment provider’s stock worth $259,000 after acquiring an additional 1,154,561 shares in the last quarter. Finally, Gagnon Advisors LLC lifted its holdings in shares of Neovasc by 50.1% in the fourth quarter. Gagnon Advisors LLC now owns 1,829,482 shares of the medical equipment provider’s stock valued at $1,098,000 after purchasing an additional 610,376 shares in the last quarter. 2.72% of the stock is owned by institutional investors and hedge funds.
Neovasc Company Profile
Neovasc Inc, a specialty medical device company, develops, manufactures, and markets cardiovascular devices worldwide. Its products include the Tiara technology for the transcatheter treatment of mitral valve disease; and the Neovasc Reducer for the treatment of refractory angina. The company also provides Peripatch tissue products.
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