Neovasc Inc (US) (NVCN) Sets New 52-Week Low at $0.25

Shares of Neovasc Inc (US) (NASDAQ:NVCN) (TSE:NVC) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $0.25 and last traded at $0.28, with a volume of 3786800 shares trading hands. The stock had previously closed at $0.28.

Several brokerages have recently issued reports on NVCN. ValuEngine cut Neovasc Inc (US) from a “sell” rating to a “strong sell” rating in a research note on Friday, December 1st. Zacks Investment Research cut Neovasc Inc (US) from a “hold” rating to a “sell” rating in a research note on Wednesday, January 31st. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $1.05 price objective on shares of Neovasc Inc (US) in a research note on Friday, January 19th. Two research analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. Neovasc Inc (US) has a consensus rating of “Hold” and an average price target of $2.95.

The stock has a market capitalization of $26.27, a P/E ratio of 0.96 and a beta of 1.23.

Institutional investors have recently bought and sold shares of the business. Virtu KCG Holdings LLC acquired a new stake in Neovasc Inc (US) in the second quarter valued at $149,000. Gagnon Advisors LLC raised its stake 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 buying an additional 610,376 shares in the last quarter. Finally, Hudson Bay Capital Management LP acquired a new stake in Neovasc Inc (US) in the fourth quarter valued at $6,213,000. Institutional investors own 32.83% of the company’s stock.

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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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