Neovasc Inc. (NVCN) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the health care sector during morning trading on September 23. At the lunch break, shares of NVCN have clocked gains of 3.55% to $0.56 after closing the day prior at $0.54. In the first two and a half hours of trading, the stock has gone as high as $0.58 and as low as $0.53. Today’s rise has come with about 227,121 shares changing hands, compared to an average 30-day volume of 752,311 for Neovasc Inc.. The price is currently below the 30-day volume weighted average price of $0.56 for NVCN.
The share appreciation gives the company a market capitalization of $36.16 million based upon 66.87 million shares outstanding. It also means that NVCN has a price-to-book ratio of 0.71:1.
In the past 52 weeks, shares of NVCN have traded as low as $0.37 and as high as $6.48. Technical traders will take note that at $0.56, shares of NVCN are trading below their 200-day MA at $2.29 and below their 50-day MA at $0.57. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is NVCN?
Neovasc Inc is a specialty medical device company. It develops, manufactures and markets products for the rapidly growing cardiovascular marketplace. Its products include the Tiara and the Neovasc Reducer. The company’s 205 employees are led by CEO Alexei Marko from the corporate headquarters at 13562 Maycrest Way in Richmond, BC.
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