Neovasc (NVCN) Sees Large Volume Increase
Neovasc Inc (NASDAQ:NVCN) (TSE:NVC) saw unusually-high trading volume on Wednesday . Approximately 6,123,039 shares traded hands during mid-day trading, an increase of 222% from the previous session’s volume of 1,900,017 shares.The stock last traded at $0.54 and had previously closed at $0.41.
NVCN has been the topic of a number of analyst reports. Zacks Investment Research cut Neovasc from a “hold” rating to a “sell” rating in a research note on Wednesday, March 27th. ValuEngine cut Neovasc from a “buy” rating to a “hold” rating in a research note on Monday, February 4th.
The company has a market capitalization of $26.35 million, a price-to-earnings ratio of -0.20 and a beta of 1.59.
A hedge fund recently bought a new stake in Neovasc stock. Virtu Financial LLC acquired a new position in shares of Neovasc Inc (NASDAQ:NVCN) (TSE:NVC) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 63,055 shares of the medical equipment provider’s stock, valued at approximately $38,000. Virtu Financial LLC owned 0.27% of Neovasc at the end of the most recent quarter. 4.64% of the stock is currently owned by hedge funds and other institutional investors.
About Neovasc (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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