Neovasc Inc (US) (NVCN) Shares Gap Up to $0.35

Neovasc Inc (US) (NASDAQ:NVCN) (TSE:NVC) shares gapped up prior to trading on Tuesday . The stock had previously closed at $0.35, but opened at $0.35. Neovasc Inc (US) shares last traded at $0.35, with a volume of 3267500 shares trading hands.

Several research analysts have recently weighed in on NVCN shares. Canaccord Genuity restated a “buy” rating and issued a $1.05 target price on shares of Neovasc Inc (US) in a research note on Friday, January 19th. Zacks Investment Research downgraded shares of Neovasc Inc (US) from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. Finally, ValuEngine downgraded shares of Neovasc Inc (US) from a “sell” rating to a “strong sell” rating in a research note on Friday, December 1st. Two analysts have rated the stock with a sell rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $2.95.

The company has a market cap of $32.84, a P/E ratio of 1.05 and a beta of 1.23.

Neovasc Inc (US) (NASDAQ:NVCN) (TSE:NVC) last posted its quarterly earnings results on Tuesday, November 14th. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.04). The company had revenue of $1.38 million during the quarter, compared to analyst estimates of $1.42 million. Neovasc Inc (US) had a net margin of 268.35% and a negative return on equity of 85.81%. equities analysts predict that Neovasc Inc will post -0.21 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Gagnon Advisors LLC raised its holdings in Neovasc Inc (US) 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 acquiring an additional 610,376 shares in the last quarter. Hudson Bay Capital Management LP acquired a new stake in Neovasc Inc (US) in the fourth quarter valued at $6,213,000. Finally, Virtu KCG Holdings LLC acquired a new stake in Neovasc Inc (US) in the second quarter valued at $149,000. 19.03% of the stock is currently owned by hedge funds and other institutional investors.

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About Neovasc Inc (US)

Neovasc Inc (Neovasc) is a specialty medical device company. The Company develops, manufactures and markets products for the cardiovascular marketplace. The Company’s segment is the development, manufacture and marketing of medical devices. Its products include the Tiara technology in development for the transcatheter treatment of mitral valve disease, the Neovasc Reducer for the treatment of refractory angina, and tissue products.

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