Neovasc Inc (NASDAQ:NVCN) (TSE:NVC) shares shot up 6.4% on Tuesday . The stock traded as high as $0.52 and last traded at $0.50. 1,421,375 shares were traded during mid-day trading, a decline of 26% from the average session volume of 1,930,198 shares. The stock had previously closed at $0.47.
Several research firms recently weighed in on NVCN. ValuEngine cut shares of Neovasc from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. Zacks Investment Research cut shares of Neovasc from a “buy” rating to a “hold” rating in a research report on Wednesday, January 16th.
The stock has a market capitalization of $33.06 million, a price-to-earnings ratio of -0.18 and a beta of 1.67.
A number of hedge funds and other institutional investors have recently modified their holdings of NVCN. Virtu Financial LLC bought a new position in Neovasc during the fourth quarter valued at approximately $38,000. Wedbush Securities Inc. bought a new position in Neovasc during the first quarter valued at approximately $53,000. Finally, Perkins Capital Management Inc. bought a new position in Neovasc during the first quarter valued at approximately $234,000. Institutional investors and hedge funds own 5.63% of the company’s stock.
Neovasc Company Profile (NASDAQ:NVCN)
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.
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