Neovasc Inc. [NVCN] moved down -6.22: Why It’s Important

Neovasc Inc. [NASDAQ: NVCN] loss -6.22% on the last trading session, reaching $0.80 price per share at the time. The company report on April 16, 2021 that Neovasc Provides Tiara TA Update.

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Vancouver, British Columbia and Minneapolis, Minnesota–(Newsfile Corp. – April 16, 2021) – Neovasc Inc. (NASDAQ: NVCN) (TSX: NVCN) (“Neovasc” or the “Company”), announced that the Tiara Transapical system (“Tiara TA”) will be unable to receive a European CE mark under the current Medical Device Directive regulations (“MDD”) ending on May 26, 2021. The Company is collaborating with its European Notified Body (the “Notified Body”) on potential next steps.

Neovasc has been working with its Notified Body for more than a year to obtain a decision on a CE Mark for Tiara TA, including an ongoing exchange of additional information beyond the original submission. The Company has determined that it will be unable to provide the additional information required by the Notified Body, which includes further testing data, before the current MDD regulations end next month.

Neovasc Inc. represents 66.98 million in outstanding shares, while the company has a total market value of $53.87 million with the latest information. NVCN stock price has been found in the range of $0.7401 to $0.86.

If compared to the average trading volume of 5.92M shares, NVCN reached a trading volume of 4643137 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Neovasc Inc. [NVCN]:

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 0.09, with the Price to Sales ratio for NVCN stock in the period of the last 12 months amounting to 27.52. The Price to Book ratio for the last quarter was 11.83.

Trading performance analysis for NVCN stock

Neovasc Inc. [NVCN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -20.38. With this latest performance, NVCN shares dropped by -40.87% in over the last four-week period, additionally sinking by -69.07% over the last 6 months – not to mention a drop of -69.42% 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 25.96, with the RSI for the last a single of trading hit 15.85, and the three-weeks RSI is set at 32.97 for Neovasc Inc. [NVCN]. The present Moving Average for the last 50 days of trading for this stock 1.3628, while it was recorded at 0.8965 for the last single week of trading, and 1.6184 for the last 200 days.

Neovasc Inc. [NVCN]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Neovasc Inc. [NVCN] shares currently have an operating margin of -1782.18 and a Gross Margin at +37.96. Neovasc Inc.’s Net Margin is presently recorded at -1466.01.

Return on Total Capital for NVCN is now -623.56, given the latest momentum, and Return on Invested Capital for the company is -1,401.99. When it comes to the capital structure of this company, Neovasc Inc. [NVCN] has a Total Debt to Total Equity ratio set at 437.78. Additionally, NVCN Total Debt to Total Capital is recorded at 81.41, with Total Debt to Total Assets ending up at 48.42. Long-Term Debt to Equity for the company is recorded at 416.59, with the Long-Term Debt to Total Capital now at 77.46.

Reflecting on the efficiency of the workforce at the company, Neovasc Inc. [NVCN] managed to generate an average of -$542,094 per employee. Receivables Turnover for the company is 2.17 with a Total Asset Turnover recorded at a value of 0.15.

Neovasc Inc. [NVCN]: An earnings per share (EPS) analysis

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.

An analysis of insider ownership at Neovasc Inc. [NVCN]

There are presently around $1 million, or 29.12% 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 32.09% of the total institutional ownership; CAPITAL RESEARCH GLOBAL INVESTORS, holding 247,102 shares of the stock with an approximate value of $0.2 million in NVCN stocks shares; and VIRTU FINANCIAL LLC, currently with $0.18 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 May and at the time of the May reporting period, where 10 institutional holders increased their position in Neovasc Inc. [NASDAQ:NVCN] by around 440,196 shares. Additionally, 9 investors decreased positions by around 2,626,217 shares, while 6 investors held positions by with 1,359,348 shares. The mentioned changes placed institutional holdings at 1,707,065 shares, according to the latest SEC report filing. NVCN stock had 4 new institutional investments in for a total of 289,705 shares, while 7 institutional investors sold positions of 2,476,117 shares during the same period.

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