Short Interest in Novadaq Technologies Inc (NVDQ) Declines By 44.0%
Novadaq Technologies Inc (NASDAQ:NVDQ) (TSE:NDQ) saw a large drop in short interest in the month of July. As of July 31st, there was short interest totalling 785,842 shares, a drop of 44.0% from the July 14th total of 1,404,365 shares. Based on an average trading volume of 1,174,762 shares, the days-to-cover ratio is currently 0.7 days. Approximately 1.4% of the shares of the company are sold short.
Novadaq Technologies (NASDAQ NVDQ) opened at 11.64 on Friday. The company’s market cap is $673.05 million. The company’s 50 day moving average price is $11.71 and its 200 day moving average price is $8.44. Novadaq Technologies has a 52-week low of $5.84 and a 52-week high of $12.74.
Several large investors have recently modified their holdings of the stock. Sand Grove Capital Management LLP bought a new stake in shares of Novadaq Technologies during the second quarter valued at about $27,072,000. Harvest Management LLC bought a new stake in shares of Novadaq Technologies during the second quarter valued at about $2,944,000. K2 Principal Fund L.P. bought a new stake in shares of Novadaq Technologies during the second quarter valued at about $3,516,000. Northern Trust Corp boosted its stake in shares of Novadaq Technologies by 4.5% in the second quarter. Northern Trust Corp now owns 193,177 shares of the medical research company’s stock valued at $2,264,000 after buying an additional 8,366 shares during the period. Finally, FNY Partners Fund LP bought a new stake in shares of Novadaq Technologies during the second quarter valued at about $293,000. Institutional investors and hedge funds own 88.77% of the company’s stock.
A number of brokerages have commented on NVDQ. ValuEngine upgraded Novadaq Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, June 22nd. Zacks Investment Research downgraded Novadaq Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Canaccord Genuity downgraded Novadaq Technologies from a “buy” rating to a “hold” rating and set a $11.75 price objective for the company. in a research report on Monday, July 10th. Royal Bank Of Canada downgraded Novadaq Technologies from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $12.00 to $11.75 in a research report on Thursday, July 13th. Finally, JMP Securities reiterated a “market perform” rating on shares of Novadaq Technologies in a research report on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $11.86.
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Novadaq Technologies Company Profile
NOVADAQ Technologies Inc is a medical device company. The Company primarily develops, manufactures and markets real-time fluorescence imaging products that are designed for use by surgeons in the operating room and other clinical settings where open and minimally invasive surgery or interventional procedures are performed.
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