Short Interest in Neovasc Inc. (NASDAQ:NVCN) Decreases By 22.2%

Neovasc Inc. (NASDAQ:NVCNGet Rating) (TSE:NVC) was the recipient of a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 176,300 shares, a decline of 22.2% from the March 15th total of 226,500 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average daily volume of 367,000 shares, the days-to-cover ratio is presently 0.5 days.

A number of equities analysts have commented on NVCN shares. HC Wainwright reaffirmed a “buy” rating and set a $5.00 price objective on shares of Neovasc in a research report on Friday, March 11th. StockNews.com started coverage on shares of Neovasc in a research report on Monday, April 11th. They issued a “sell” rating for the company. Finally, Zacks Investment Research raised shares of Neovasc from a “sell” rating to a “hold” rating in a research report on Wednesday, January 12th.

Shares of Neovasc stock opened at $0.38 on Monday. The firm has a 50-day moving average of $0.43 and a 200-day moving average of $0.55. The stock has a market cap of $26.02 million, a PE ratio of -1.04 and a beta of 2.42. Neovasc has a 52-week low of $0.36 and a 52-week high of $1.13. The company has a debt-to-equity ratio of 0.16, a quick ratio of 10.79 and a current ratio of 11.08.

Neovasc (NASDAQ:NVCNGet Rating) (TSE:NVC) last announced its earnings results on Thursday, March 10th. The medical equipment provider reported ($0.09) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.01. The company had revenue of $0.76 million during the quarter, compared to analysts’ expectations of $0.80 million. Neovasc had a negative net margin of 952.85% and a negative return on equity of 35.09%. Equities research analysts predict that Neovasc will post -0.2 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of NVCN. Goldman Sachs Group Inc. bought a new stake in Neovasc during the second quarter worth about $70,000. Citadel Advisors LLC lifted its position in Neovasc by 60.5% during the second quarter. Citadel Advisors LLC now owns 118,434 shares of the medical equipment provider’s stock worth $109,000 after purchasing an additional 44,641 shares during the period. U.S. Capital Wealth Advisors LLC bought a new stake in Neovasc during the third quarter worth about $218,000. UBS Group AG lifted its position in Neovasc by 564.9% during the third quarter. UBS Group AG now owns 34,701 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 29,482 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in Neovasc during the fourth quarter worth about $67,000. 2.14% of the stock is owned by institutional investors and hedge funds.

Neovasc Company Profile (Get Rating)

Neovasc, Inc engages in the development, manufacture and marketing of medical devices. It focuses on Neovast Tiara and Neovasc Reducer products. The company was founded on November 2, 2000 and is headquartered in Richmond, Canada.

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