Neovasc Inc. [NVCN] stock Resumed by Canaccord Genuity analyst, price target now $1.05

Neovasc Inc. [NASDAQ: NVCN] closed the trading session at $1.24 on 03/10/21. The day’s price range saw the stock hit a low of $1.23, while the highest price level was $1.43. The company report on March 4, 2021 that Neovasc to Report Fourth Quarter and Fiscal Year 2020 Results on March 11, 2021.

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via NewMediaWire — Neovasc, Inc. (NASDAQ, TSX: NVCN) will report results for the fourth quarter and fiscal year ended December 31, 2020 after the market close on Thursday, March 11, 2021. Neovasc President and Chief Executive Officer Fred Colen and Chief Financial Officer Chris Clark will host a conference call to review the Company’s results at 4:30 pm EST.

Interested parties may access the conference call by dialing (877) 407-9208 or (201) 493-6784 (International). Participants wishing to join the call via webcast should use the link posted on the investor relations section of the Neovasc website at https://www.neovasc.com/investors/.

The stocks have a year to date performance of 30.31 percent and weekly performance of -3.12 percent. The stock has been moved at -42.59 percent over the last six months. The stock has performed -16.22 percent around the most recent 30 days and changed 45.00 percent over the most recent 3-months.

If compared to the average trading volume of 6.89M shares, NVCN reached to a volume of 3210659 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 0.24, with the Price to Sales ratio for NVCN stock in the period of the last 12 months amounting to 40.69. The Price to Book ratio for the last quarter was 42.76.

NVCN stock trade performance evaluation

Neovasc Inc. [NVCN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.12. With this latest performance, NVCN shares dropped by -16.22% in over the last four-week period, additionally sinking by -42.59% over the last 6 months – not to mention a drop of -48.33% 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 42.69, with the RSI for the last a single of trading hit 39.46, and the three-weeks RSI is set at 45.31 for Neovasc Inc. [NVCN]. The present Moving Average for the last 50 days of trading for this stock 1.3734, while it was recorded at 1.2160 for the last single week of trading, and 1.8305 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 $2 million, or 17.51% of NVCN stock, in the hands of institutional investors. The top three institutional holders of NVCN stocks are: MAGNETAR FINANCIAL LLC with ownership of 721,104, which is approximately -17.22% of the company’s market cap and around 23.58% of the total institutional ownership; CAPITAL RESEARCH GLOBAL INVESTORS, holding 247,102 shares of the stock with an approximate value of $0.31 million in NVCN stocks shares; and VIRTU FINANCIAL LLC, currently with $0.29 million in NVCN stock with ownership of nearly New 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 10 institutional holders increased their position in Neovasc Inc. [NASDAQ:NVCN] by around 440,196 shares. Additionally, 8 investors decreased positions by around 2,626,117 shares, while 7 investors held positions by with 1,359,148 shares. The mentioned changes placed institutional holdings at 1,707,165 shares, according to the latest SEC report filing. NVCN stock had 4 new institutional investments in for a total of 289,705 shares, while 6 institutional investors sold positions of 2,476,017 shares during the same period.

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