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.

TRADEMARK VIOLATION NOTICE: This article was first published by Watch List News and is owned by of Watch List News. If you are reading this article on another website, it was stolen and reposted in violation of United States & international copyright legislation. The correct version of this article can be read at https://www.watchlistnews.com/short-interest-in-novadaq-technologies-inc-nvdq-declines-by-44-0/1480256.html.

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.

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