Neovasc Inc. (NVCN) – The 73.75% Upside Potential Remains

Neovasc Inc. (NASDAQ: NVCN) is 10.34% higher on its value in year-to-date trading and has touched a low of $0.68 and a high of $3.88 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The NVCN stock was last observed hovering at around $1.07 in the last trading session, with the day’s loss setting it -0.02% off its average median price target of $4.00 for the next 12 months. It is also 79.0% off the consensus price target high of $5.00 offered by 3 analysts, but current levels are 47.5% higher than the price target low of $2.00 for the same period.

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Currently trading at $1.05, the stock is -15.90% and -26.39% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.35 million and changing -1.87% at the moment leaves the stock -38.59% off its SMA200. NVCN registered -34.38% loss for a year compared to 6-month loss of -50.47%. The firm has a 50-day simple moving average (SMA 50) of $1.4966 and a 200-day simple moving average (SMA200) of $1.4073.

The stock witnessed a -27.08% gain in the last 1 month and extending the period to 3 months gives it a -3.67%, and is -12.50% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 8.95% over the week and 11.92% over the month.

Neovasc Inc. (NVCN) has around 71 employees, a market worth around $70.33M and $1.96M in sales. Distance from 52-week low is 54.41% and -72.94% from its 52-week high.

Neovasc Inc. (NVCN) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Neovasc Inc. (NVCN) is a “Buy”. 3 analysts offering their recommendations for the stock have an average rating of 1.00, where 0 rate it as a Hold and 0 think it is a “Overweight”. 3 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Neovasc Inc. is expected to release its quarterly report on 05/13/2021 and quarterly earnings per share for the current quarter are estimated at -$0.05 with sales reaching $1.16M over the same period.The EPS is expected to grow by 79.70% this year, but quarterly earnings will post -56.90% year-over-year. Quarterly sales are estimated to shrink -58.00% in year-over-year returns.

Neovasc Inc. (NVCN) Top Institutional Holders

25 institutions hold shares in Neovasc Inc. (NVCN), with 21.5M shares held by insiders accounting for 32.10% while institutional investors hold 42.39% of the company’s shares. The shares outstanding are 66.98M, and float is at 55.71M with Short Float at 3.25%. Institutions hold 28.78% of the Float.

The top institutional shareholder in the company is Magnetar Financial LLC with over 0.72 million shares valued at $0.69 million. The investor’s holdings represent 1.08% of the NVCN Shares outstanding. As of Dec 30, 2020, the second largest holder is Capital Research Global Investors with 0.25 million shares valued at $0.24 million to account for 0.37% of the shares outstanding. The other top investors are Virtu Financial LLC which holds 0.23 million shares representing 0.34% and valued at over $0.22 million, while USCA RIA LLC holds 0.21% of the shares totaling 0.14 million with a market value of $0.14 million.

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