Neovasc Inc (US) (NVCN) Stock Price Down 9.1%

Neovasc Inc (US) (NASDAQ:NVCN) (TSE:NVC) shares were down 9.1% on Wednesday . The company traded as low as $0.11 and last traded at $0.10. Approximately 43,069,073 shares changed hands during trading, an increase of 174% from the average daily volume of 15,743,965 shares. The stock had previously closed at $0.11.

A number of research analysts recently weighed in on NVCN shares. ValuEngine downgraded shares of Neovasc Inc (US) from a “sell” rating to a “strong sell” rating in a research report on Friday, December 1st. Canaccord Genuity restated a “buy” rating and set a $1.05 price objective on shares of Neovasc Inc (US) in a research report on Friday, January 19th. Finally, Zacks Investment Research downgraded shares of Neovasc Inc (US) from a “hold” rating to a “sell” rating in a research report on Wednesday, January 31st. Two research analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. Neovasc Inc (US) currently has an average rating of “Hold” and an average target price of $2.95.

The firm has a market capitalization of $9.82, a PE ratio of 0.43 and a beta of 0.52.

A hedge fund recently bought a new stake in Neovasc Inc (US) stock. Hudson Bay Capital Management LP bought a new stake in shares of Neovasc Inc (US) (NASDAQ:NVCN) (TSE:NVC) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 10,355,108 shares of the medical equipment provider’s stock, valued at approximately $6,213,000. Hudson Bay Capital Management LP owned about 13.12% of Neovasc Inc (US) at the end of the most recent quarter. 41.47% of the stock is currently owned by 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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