With over 1.19 million Neovasc Inc. (NVCN) shares trading Tuesday and a closing price of $27.80 on the day, the dollar volume was approximately $32.97 million. The shares have shown a positive half year performance of 367.08% and its price on 01/17/23 gained nearly 29.06%. Currently, there are 2.75M common shares owned by the public and among those 2.56M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for NVCN have a consensus price objective of $20.00. The analysts have set the share’s price value over the next 12 months at a high of $20.00 and a low of $20.00. The average price target is -54.44% below its recent price level and a downside to the estimated low will see the stock lose -39.0% over that period. But a downside of -39.0% will see the stock hit the forecast high price target while median target price for the stock is $20.00.
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Insiders at the company have transacted a total of 93 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 58 of these insider trades were purchases, accounting for 466,523 shares. Insider sales of the common stock occurred on 35 occasions, with total insider shares sold totaling 1,297,574 shares.
Fidelity Nasdaq Composite Index F owns 854.0 shares of the company’s stock, all valued at over $13489.0.
Shares of Neovasc Inc. (NASDAQ: NVCN) opened at $28.10, up $6.56 from a prior closing price of $21.54. However, the script later moved the day high at 28.26, up 29.06%. The company’s stock has a 5-day price change of 62.57% and 327.04% over the past three months. NVCN shares are trading 76.01% year to date (YTD), with the 12-month market performance up to 129.23% higher. It has a 12-month low price of $4.59 and touched a high of $21.92 over the same period. NVCN has an average intraday trading volume of 17.14K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 79.77%, 158.59%, and 252.15% respectively.
Institutional ownership of Neovasc Inc. (NASDAQ: NVCN) shares accounts for 5.88% of the company’s 2.75M shares outstanding. Mutual fund holders own –, while other institutional holders and individual stakeholders account for — and — respectively.
It has a market capitalization of $95.63M and a beta (3y monthly) value of 1.89. The earnings-per-share (ttm) stands at -$16.44. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.49% over the week and 11.44% over the month.
Analysts forecast that Neovasc Inc. (NVCN) will achieve an EPS of -$2.82 for the current quarter, -$2.96 for the next quarter and -$7.73 for 2023. The lowest estimate earnings-per-share for the quarter is -$3.18 while analysts give the company a high EPS estimate of -$2.46. Comparatively, EPS for the current quarter was -$2.75 a year ago. Earnings per share for the fiscal year are expected to increase by 77.00%, and 15.30% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Neovasc Inc. (NVCN) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the NVCN, a number of firms have released research notes about the stock. Canaccord Genuity stated their Buy rating for the stock in a research note on January 19, 2018, with the firm’s price target at $1.05. Ladenburg Thalmann was of a view on May 20, 2016 that the stock is Neutral, while Ladenburg Thalmann gave the stock Buy rating on December 10, 2015, issuing a price target of $9.25. JMP Securities on their part issued Mkt Outperform rating on October 07, 2015.
