Neovasc Inc. (NASDAQ:NVCN) Short Interest Down 76.8% in May

Posted by on May 26th, 2022

Neovasc Inc. (NASDAQ:NVCN – Get Rating) (TSE:NVC) was the recipient of a significant decline in short interest in May. As of May 15th, there was short interest totalling 5,300 shares, a decline of 76.8% from the April 30th total of 22,800 shares. Based on an average daily volume of 13,500 shares, the short-interest ratio is currently 0.4 days.

A number of equities research analysts have issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $125.00 target price on shares of Neovasc in a research note on Friday, March 11th. StockNews.com assumed coverage on shares of Neovasc in a research report on Saturday, May 21st. They issued a “sell” rating on the stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Citadel Advisors LLC bought a new position in Neovasc during the fourth quarter valued at about $74,000. Renaissance Technologies LLC acquired a new stake in Neovasc in the 4th quarter valued at $67,000. Goldman Sachs Group Inc. acquired a new position in Neovasc during the second quarter worth $70,000. Susquehanna International Group LLP bought a new position in shares of Neovasc during the fourth quarter valued at $26,000. Finally, UBS Group AG boosted its position in Neovasc by 564.9% in the third quarter. UBS Group AG now owns 34,701 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 29,482 shares in the last quarter. 2.42% of the stock is owned by institutional investors and hedge funds.

NVCN opened at $5.58 on Thursday. The company has a quick ratio of 12.50, a current ratio of 12.88 and a debt-to-equity ratio of 0.27. The stock’s 50 day moving average price is $11.46 and its two-hundred day moving average price is $12.67. The firm has a market capitalization of $15.11 million, a P/E ratio of -0.47 and a beta of 2.48. Neovasc has a 12-month low of $4.64 and a 12-month high of $28.25.

Neovasc (NASDAQ:NVCN – Get Rating) (TSE:NVC) last announced its quarterly earnings data on Thursday, March 10th. The medical equipment provider reported ($2.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.50) by $0.25. The business had revenue of $0.76 million for the quarter, compared to the consensus estimate of $0.80 million. Neovasc had a negative net margin of 1,192.20% and a negative return on equity of 50.69%. As a group, analysts anticipate that Neovasc will post -5 earnings per share for the current year.

Neovasc Company Profile (Get Rating)

Neovasc Inc, a specialty medical device company, develops, manufactures, and markets products for cardiovascular marketplace in Europe and internationally. Its products include the Tiara technology for the transcatheter treatment of mitral valve disease; and the Neovasc Reducer for the treatment of refractory angina.

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