In the last trading session, 6,935,684 shares of the Neovasc Inc.(NASDAQ:NVCN) were traded, and its beta was 0. Most recently the company’s share price was $1.82, and it changed around -$0.04 or -0.02% from the last close, which brings the market valuation of the company to $119.02 Million. NVCN currently trades at a discount to its 52-week high of $3.88, offering almost -113.19% off that amount. The share price’s 52-week low was $0.68, which indicates that the current value has risen by an impressive 62.64% since then. We note from Neovasc Inc.’s average daily trading volume that its 10-day average is 17.36 Million shares, with the 3-month average coming to 6.14 Million.
Neovasc Inc. stock received a consensus recommendation rating of Buy, based on a mean score of 1. If we narrow it down even further, the data shows that none out of 3 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, no body recommended NVCN as a Hold, whereas 3 deemed it a Buy, and no one rated it as Underweight. Neovasc Inc. is expected to report earnings per share of -$0.05 for the current quarter.
Neovasc Inc. (NASDAQ:NVCN): Trading Information
Although NVCN has showed a red trend with a performance of -2.15% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of $2.54 on Tuesday, Feb 16 increased the stock’s daily price by 28.35%. The company’s shares are currently up 0.91% year-to-date, but still down -0.1455 over the last five days. On the other hand, Neovasc Inc. (NASDAQ:NVCN) is 0.4% up in the 30-day period. We can see from the shorts that 1.07 Million shares have been sold at a short interest cover period of 0.17 day(s).
The consensus price target as assigned by Wall Street analysts is $3.67, which translates to bears needing to increase their stock price by 101.65% from its current value. Analyst projections state that NVCN is forecast to be at a low of $2 and a high of $5. In order for the stock price to hit the forecast high, the stock would need to surge +174.73% from its current level, while the stock would need to crash 9.89% from its current level to reach the projected low.
Neovasc Inc. (NVCN) projections and forecasts
Neovasc Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -15.74 percent over the past six months and at a 61.78% annual growth rate that is well above the industry average of 20.3%. However, despite this, analysts have decided to cut back on their fiscal year 2021 revenue estimates. The rating firms predict that it will lose -109.3% in revenue this quarter, and will report an increase of 70% in the next quarter. The year-over-year growth rate is expected to be -56.9%, down from the previous year.
Consensus estimates provided by 3 financial analysts predict the company will bring in an average of $1.16 Million in revenue for the current quarter. 3 analysts expect Neovasc Inc. to make $870Million in revenue for the quarter ending in Apr 2021. The company’s sales for the same quarters a year ago were $2.76 Million and $1.48 Million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -58%. Forecasts for the next quarter put sales growth at -41.3%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of 0%. Neovasc Inc. earnings are expected to increase by 79.7% in 2021, but the outlook is negative 0% per year for the next five years.
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Neovasc Inc. (NASDAQ:NVCN)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 23.58% of Neovasc Inc. shares, and 17.51% of them are in the hands of institutional investors. The stock currently has a share float of 22.91%. Neovasc Inc. stock is held by 25 institutions, with Magnetar Financial LLC being the largest institutional investor. By Dec 30, 2020, it held 2.49% of the shares, which is about 721.1 Thousand shares worth $686.2 Thousand.
Capital Research Global Investors, with 0.85% or 247.1 Thousand shares worth $235.14 Thousand as of Dec 30, 2020, holds the second largest percentage of outstanding shares.
Smallcap World Fund and Fidelity NASDAQ Composite Index Fund were the top two Mutual Funds as of Dec 30, 2020. The former held 247102 shares worth $235.14 Thousand, making up 0.85% of all outstanding shares. On the other hand, Fidelity NASDAQ Composite Index Fund held roughly 8.6 Thousand shares worth around $8.19 Thousand, which represents about 0.03% of the total shares outstanding.