Neovasc Inc (US) (NVCN) Trading Up 9.6%

Neovasc Inc (US) (NASDAQ:NVCN) (TSE:NVC)’s share price was up 9.6% on Thursday . The stock traded as high as $0.58 and last traded at $0.57. Approximately 1,209,292 shares were traded during mid-day trading, an increase of 56% from the average daily volume of 773,024 shares. The stock had previously closed at $0.52.

Several equities analysts have weighed in on NVCN shares. Zacks Investment Research raised Neovasc Inc (US) from a “hold” rating to a “buy” rating and set a $1.75 price objective for the company in a report on Wednesday, October 11th. ValuEngine cut Neovasc Inc (US) from a “sell” rating to a “strong sell” rating in a report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $3.58.

The firm has a market cap of $45.31, a price-to-earnings ratio of 2.22 and a beta of -0.08.

A hedge fund recently bought a new stake in Neovasc Inc (US) stock. Virtu KCG Holdings LLC acquired a new stake in Neovasc Inc (US) (NASDAQ:NVCN) (TSE:NVC) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 108,132 shares of the medical equipment provider’s stock, valued at approximately $149,000. Virtu KCG Holdings LLC owned approximately 0.14% of Neovasc Inc (US) at the end of the most recent reporting period. 19.04% of the stock is currently owned by institutional investors and hedge funds.

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About Neovasc Inc (US)

Neovasc Inc (Neovasc) is a specialty medical device company. The Company develops, manufactures and markets products for the cardiovascular marketplace. The Company’s segment is the development, manufacture and marketing of medical devices. Its products include the Tiara technology in development for the transcatheter treatment of mitral valve disease, the Neovasc Reducer for the treatment of refractory angina, and tissue products.

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