During the last session, Neovasc Inc. (NASDAQ:NVCN)’s traded shares were 833,564, with the beta value of the company hitting 0. At the end of the trading day, the stock’s price was $1.05, reflecting an intraday loss of -1.87% or -$0.02. The 52-week high for the NVCN share is $3.88, that puts it down -269.52% from that peak though still a striking +35.24% gain since the share price plummeted to a 52-week low of $0.68. The company’s market capitalization is $70.87 Million, and the average intraday trading volume over the past 10 days was 1.02 Million shares, and the average trade volume was 6.17 Million shares over the past three months.
Neovasc Inc. (NVCN) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 1. NVCN has a Sell rating from none of the analyst(s) out of 3 analysts who have looked at this stock. Neither of the analyst(s) recommend to Hold the stock while none of them suggest Overweight, and 3 recommend a Buy rating for it. None of the analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.05.
Neovasc Inc. (NASDAQ:NVCN): Trading Information
The consensus price target of analysts on Wall Street is $3.67, which implies an increase of 249.52% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $2 and $5 respectively. As a result, NVCN is trading at a discount of 376.19% off the target high and 90.48% off the low.
Neovasc Inc. (NVCN) projections and forecasts
Statistics show that Neovasc Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Neovasc Inc. (NVCN) shares have jump down -50.47% during the last six months, with a year-to-date growth rate less than the industry average at -40.35% against 22.4%. Yet analysts are winding down their growth forecast for the fiscal year 2021. Revenue is predicted to decline -109.3% this quarter and then jump 70% in the quarter after that. In the rating firms’ projections, revenue will decline -56.9% compared to the previous financial year.
Revenue for the current quarter is expected to be $1.16 Million as predicted by 3 analyst(s). Meanwhile, a consensus of 3 analyst(s) estimates revenue growth to $870Million by the end of May 2021. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $2.76 Million and $1.48 Million respectively. In this case, analysts expect current quarter sales to lessen by -58% and then fell by -41.3% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings fell an estimated 0%. While earnings are projected to return 79.7% in 2021, the next five years will return 0% per annum.
Neovasc Inc. (NASDAQ:NVCN)’s Biggest Investors
Neovasc Inc. insiders own 32.09% of total outstanding shares while institutional holders control 29.12%, with the float percentage being 42.88%. Magnetar Financial LLC is the largest shareholder of the company, while 27 institutions own stock in it. As of Dec 30, 2020, the company held over 721.1 Thousand shares (or 1.08% of all shares), a total value of $686.2 Thousand in shares.
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The next largest institutional holding, with 247.1 Thousand shares, is of Capital Research Global Investors’s that is approximately 0.37% of outstanding shares. At the market price on Dec 30, 2020, these shares were valued at $235.14 Thousand.
Also, the Mutual Funds coming in first place with the largest holdings of Neovasc Inc. (NVCN) shares are Smallcap World Fund and Fidelity NASDAQ Composite Index Fund. Data provided on Dec 30, 2020 indicates that Smallcap World Fund owns about 247,102 shares. This amounts to just over 0.37 percent of the company’s overall shares, with a $235.14 Thousand market value. The same data shows that the other fund manager holds slightly less at 8.6 Thousand, or about 0.01% of the stock, which is worth about $12.21 Thousand.