enVVeno Medical (NASDAQ:NVNO) Trading 1.4% Higher – Here’s Why

enVVeno Medical Corporation (NASDAQ:NVNO)’s stock price traded up 1.4% during trading on Tuesday . The company traded as high as $0.97 and last traded at $0.96. 155,836 shares were traded during mid-day trading, a decline of 76% from the average session volume of 657,704 shares. The stock had previously closed at $0.95.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. LADENBURG THALM/SH SH downgraded enVVeno Medical from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. Wall Street Zen downgraded enVVeno Medical from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of enVVeno Medical in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce”.

enVVeno Medical Price Performance

The firm has a fifty day moving average price of $2.04 and a two-hundred day moving average price of $3.04. The stock has a market capitalization of $18.46 million, a PE ratio of -0.80 and a beta of 0.94.

enVVeno Medical (NASDAQ:NVNO) last issued its quarterly earnings results on Thursday, July 31st. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.05). On average, research analysts expect that enVVeno Medical Corporation will post -1.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On enVVeno Medical

Several hedge funds and other institutional investors have recently modified their holdings of the business. Westside Investment Management Inc. grew its stake in enVVeno Medical by 26.4% in the first quarter. Westside Investment Management Inc. now owns 259,050 shares of the company’s stock worth $681,000 after purchasing an additional 54,025 shares in the last quarter. Dauntless Investment Group LLC purchased a new position in enVVeno Medical during the 1st quarter worth $186,000. XTX Topco Ltd purchased a new position in enVVeno Medical during the 1st quarter worth $80,000. Geode Capital Management LLC increased its holdings in enVVeno Medical by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 199,509 shares of the company’s stock worth $796,000 after purchasing an additional 2,211 shares during the period. Finally, Creative Planning purchased a new position in enVVeno Medical during the 2nd quarter worth $54,000. 34.71% of the stock is currently owned by hedge funds and other institutional investors.

enVVeno Medical Company Profile

enVVeno Medical Corporation (Nasdaq: NVNO) is an medical device company focused on the development of innovative bioprosthetic (tissue-based) devices to improve the standard of care in the treatment of venous disease. The company’s lead product, the VenoValve®️, is a first-in-class, surgical implant being developed for the treatment of severe deep venous Chronic Venous Insufficiency (CVI).