Neovasc (NVCN) Hits New 52-Week Low at $1.39

Neovasc Inc (NASDAQ:NVCN) (TSE:NVC) shares reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $1.39 and last traded at $1.49, with a volume of 17383 shares changing hands. The stock had previously closed at $1.79.

A number of research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Neovasc from a “hold” rating to a “sell” rating in a research note on Tuesday, August 14th. ValuEngine raised shares of Neovasc from a “hold” rating to a “buy” rating in a research note on Saturday, September 22nd.

The stock has a market capitalization of $37.17 million, a P/E ratio of -0.04 and a beta of 1.44.

Several hedge funds have recently added to or reduced their stakes in NVCN. Renaissance Technologies LLC raised its position in shares of Neovasc by 837.5% during the 2nd quarter. Renaissance Technologies LLC now owns 53,754,832 shares of the medical equipment provider’s stock worth $2,300,000 after buying an additional 48,020,900 shares in the last quarter. Gagnon Advisors LLC raised its position in shares of Neovasc by 2,416.2% during the 2nd quarter. Gagnon Advisors LLC now owns 46,032,686 shares of the medical equipment provider’s stock worth $1,970,000 after buying an additional 44,203,204 shares in the last quarter. Gagnon Securities LLC raised its position in shares of Neovasc by 350.7% during the 2nd quarter. Gagnon Securities LLC now owns 19,120,325 shares of the medical equipment provider’s stock worth $818,000 after buying an additional 14,878,428 shares in the last quarter. Finally, Capital Research Global Investors bought a new stake in shares of Neovasc during the 3rd quarter worth about $1,917,000.

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About Neovasc (NASDAQ:NVCN)

Neovasc Inc, a specialty medical device company, develops, manufactures, and markets cardiovascular devices worldwide. Its products include the Tiara technology for the transcatheter treatment of mitral valve disease; and the Neovasc Reducer for the treatment of refractory angina. The company also provides Peripatch tissue products.

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