Neovasc Inc. (NASDAQ:NVCN) (TSE:NVC) was the target of a large growth in short interest during the month of April. As of April 30th, there was short interest totalling 74,020,430 shares, a growth of 55.3% from the April 13th total of 47,655,636 shares. Approximately 83.5% of the company’s shares are short sold. Based on an average daily volume of 87,826,510 shares, the short-interest ratio is presently 0.8 days.
A number of research analysts have commented on NVCN shares. ValuEngine raised Neovasc from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 2nd. Canaccord Genuity reaffirmed a “buy” rating and set a $1.05 price target on shares of Neovasc in a research report on Friday, January 19th. Zacks Investment Research lowered Neovasc from a “hold” rating to a “sell” rating in a research report on Thursday, April 5th. Finally, Leerink Swann lowered their price target on Neovasc from $5.00 to $2.00 and set an “outperform” rating for the company in a research report on Thursday, March 29th.
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Neovasc opened at $0.04 on Friday, according to Marketbeat.com. The company has a market cap of $55.91 million, a price-to-earnings ratio of -0.11 and a beta of 1.24. The company has a debt-to-equity ratio of -0.43, a current ratio of 0.77 and a quick ratio of 0.75. Neovasc has a one year low of $0.03 and a one year high of $0.04.
Neovasc (NASDAQ:NVCN) (TSE:NVC) last released its quarterly earnings results on Wednesday, March 28th. The medical equipment provider reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The business had revenue of $1.23 million for the quarter, compared to the consensus estimate of $1.18 million. Neovasc had a negative net margin of 439.15% and a negative return on equity of 85.81%. equities research analysts forecast that Neovasc will post -0.09 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Gagnon Advisors LLC grew its holdings in shares of Neovasc by 50.1% during the 4th quarter. Gagnon Advisors LLC now owns 1,829,482 shares of the medical equipment provider’s stock worth $1,098,000 after acquiring an additional 610,376 shares during the period. Gagnon Securities LLC grew its holdings in shares of Neovasc by 37.4% during the 1st 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 during the period. Finally, Hudson Bay Capital Management LP purchased a new position in shares of Neovasc during the 4th quarter worth approximately $6,213,000. 2.72% of the stock is owned by institutional investors and hedge funds.
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.