Sunday, March 7, 2021

Neovasc Inc. [NVCN] is 140.65% higher this YTD. Is it still time to buy?

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Neovasc Inc. [NASDAQ: NVCN] surged by $0.81 during the normal trading session on Tuesday and reaching a high of $2.60 during the day while it closed the day at $2.29. The company report on February 9, 2021 that Neovasc Regains Compliance with Nasdaq Minimum Bid Price Rule.

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via NewMediaWire — Neovasc, Inc. (“Neovasc” or the “Company”) (NASDAQ, TSX: NVCN) announced that it has received written notification from the Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) pursuant to Nasdaq Listing Rule 5810 for continued listing on the Nasdaq.

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Currently, the Company is still not in compliance with the minimum market value requirement set forth in Nasdaq Rules for continued listing on the Nasdaq. Nasdaq Listing Rule 5550(b)(2) requires companies to maintain a minimum market value of US$35 million; the Company has until June 8, 2021 to regain such compliance.

Neovasc Inc. stock has also gained 77.52% of its value over the past 7 days. However, NVCN stock has inclined by 166.28% in the 3 months of the year. Over the past six months meanwhile, it has lost -2.14% and gained 140.65% year-on date.

The market cap for NVCN stock reached $66.13 million, with 28.88 million shares outstanding and 17.34 million shares in the current float. Compared to the average trading volume of 2.28M shares, NVCN reached a trading volume of 28215873 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Neovasc Inc. [NVCN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NVCN shares is $1.88 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NVCN stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Canaccord Genuity have made an estimate for Neovasc Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 19, 2018. The new note on the price target was released on April 05, 2017, representing the official price target for Neovasc Inc. stock.

The Average True Range (ATR) for Neovasc Inc. is set at 0.20, with the Price to Sales ratio for NVCN stock in the period of the last 12 months amounting to 32.91. The Price to Book ratio for the last quarter was 78.97.

NVCN stock trade performance evaluation

Neovasc Inc. [NVCN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 77.52. With this latest performance, NVCN shares gained by 131.31% in over the last four-week period, additionally sinking by -2.14% over the last 6 months – not to mention a drop of -3.78% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NVCN stock in for the last two-week period is set at 84.76, with the RSI for the last a single of trading hit 89.64, and the three-weeks RSI is set at 79.64 for Neovasc Inc. [NVCN]. The present Moving Average for the last 50 days of trading for this stock 1.06, while it was recorded at 1.57 for the last single week of trading, and 1.92 for the last 200 days.

Neovasc Inc. [NVCN]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Neovasc Inc. [NVCN] shares currently have an operating margin of -1431.14 and a Gross Margin at +47.42. Neovasc Inc.’s Net Margin is presently recorded at -1679.28.

Additionally, NVCN Total Debt to Total Capital is recorded at 1,384.32, with Total Debt to Total Assets ending up at 154.07.

Reflecting on the efficiency of the workforce at the company, Neovasc Inc. [NVCN] managed to generate an average of -$423,775 per employee. Receivables Turnover for the company is 2.88 with a Total Asset Turnover recorded at a value of 0.19.

Earnings per share (EPS) analysis for Neovasc Inc. [NVCN] stock

With the latest financial reports released by the company, Neovasc Inc. posted 0.54/share EPS, while the average EPS was predicted by analysts to be reported at -0.09/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 700.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NVCN.

Neovasc Inc. [NVCN]: Insider Ownership positions

There are presently around $6 million, or 17.51% of NVCN stock, in the hands of institutional investors. The top three institutional holders of NVCN stocks are: SABBY MANAGEMENT, LLC with ownership of 1,009,406, which is approximately 209.612% of the company’s market cap and around 23.58% of the total institutional ownership; CAPITAL WORLD INVESTORS, holding 910,000 shares of the stock with an approximate value of $1.35 million in NVCN stocks shares; and MAGNETAR FINANCIAL LLC, currently with $1.29 million in NVCN stock with ownership of nearly 5.652% of the company’s market capitalization.

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Positions in Neovasc Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 9 institutional holders increased their position in Neovasc Inc. [NASDAQ:NVCN] by around 1,147,307 shares. Additionally, 7 investors decreased positions by around 379,110 shares, while 7 investors held positions by with 2,445,383 shares. The mentioned changes placed institutional holdings at 3,971,800 shares, according to the latest SEC report filing. NVCN stock had 3 new institutional investments in for a total of 241,463 shares, while 1 institutional investors sold positions of 10,148 shares during the same period.

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