Neovasc Inc. (NASDAQ:NVCN) Short Interest Update


Share on StockTwits

Neovasc Inc. (NASDAQ:NVCN) (TSE:NVC) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 2,400,000 shares, an increase of 32.6% from the March 15th total of 1,810,000 shares. Approximately 3.6% of the shares of the company are sold short. Based on an average trading volume of 5,730,000 shares, the short-interest ratio is presently 0.4 days.

NVCN has been the topic of a number of recent research reports. SVB Leerink restated a “buy” rating and issued a $2.00 price objective on shares of Neovasc in a research note on Sunday, March 14th. Zacks Investment Research lowered shares of Neovasc from a “buy” rating to a “hold” rating in a research note on Thursday, April 8th.

Hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new stake in Neovasc during the fourth quarter worth about $219,000. Usca Ria LLC lifted its holdings in shares of Neovasc by 100.0% in the fourth quarter. Usca Ria LLC now owns 144,000 shares of the medical equipment provider’s stock valued at $137,000 after purchasing an additional 72,000 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Neovasc by 229.6% in the third quarter. Morgan Stanley now owns 119,383 shares of the medical equipment provider’s stock valued at $256,000 after purchasing an additional 83,161 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Neovasc by 62.1% in the fourth quarter. JPMorgan Chase & Co. now owns 26,634 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 10,200 shares in the last quarter. 13.48% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Neovasc stock traded up $0.01 on Monday, reaching $0.81. 1,279,437 shares of the stock were exchanged, compared to its average volume of 5,374,476. Neovasc has a 1-year low of $0.68 and a 1-year high of $3.38. The company has a current ratio of 2.19, a quick ratio of 2.09 and a debt-to-equity ratio of 12.94. The business has a fifty day moving average price of $1.19 and a two-hundred day moving average price of $1.30. The firm has a market capitalization of $54.26 million, a PE ratio of -0.26 and a beta of 2.58.

Neovasc (NASDAQ:NVCN) (TSE:NVC) last issued its quarterly earnings results on Thursday, March 11th. The medical equipment provider reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.36. The firm had revenue of $0.51 million for the quarter, compared to analyst estimates of $0.55 million. Research analysts expect that Neovasc will post -1.93 EPS for the current year.

Neovasc Company Profile

Neovasc Inc, a specialty medical device company, develops, manufactures, and markets medical devices for cardiovascular marketplace in Europe, Canada, the United States, 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.

Further Reading: Why do companies issue stock splits?

Receive News & Ratings for Neovasc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Neovasc and related companies with MarketBeat.com's FREE daily email newsletter.