Neovasc Inc. (NASDAQ:NVCN) shot up 44.3% during trading on Monday . The company traded as high as $1.32 and last traded at $1.14. 4,962,415 shares traded hands during trading, an increase of 1,992% from the average session volume of 237,258 shares. The stock had previously closed at $0.79.

Separately, Zacks Investment Research cut shares of Neovasc from a “strong-buy” rating to a “hold” rating in a report on Friday, May 12th.

The stock’s market cap is $89.96 million. The company’s 50 day moving average price is $1.05 and its 200-day moving average price is $1.39.

Neovasc (NASDAQ:NVCN) last released its quarterly earnings data on Thursday, August 10th. The medical equipment provider reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.02) by $0.02. The business had revenue of $1.31 million during the quarter, compared to analysts’ expectations of $1.40 million. Neovasc had a negative net margin of 68.34% and a negative return on equity of 58.08%. On average, equities analysts forecast that Neovasc Inc. will post ($0.31) EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in NVCN. Virtu KCG Holdings LLC purchased a new stake in shares of Neovasc in the 2nd quarter valued at $149,000. Iguana Healthcare Management LLC purchased a new stake in shares of Neovasc in the 1st quarter valued at $505,000. Gagnon Advisors LLC boosted its holdings in shares of Neovasc by 0.5% in the 2nd quarter. Gagnon Advisors LLC now owns 1,212,850 shares of the medical equipment provider’s stock valued at $1,674,000 after acquiring an additional 5,671 shares during the last quarter. Gagnon Securities LLC boosted its holdings in shares of Neovasc by 5.2% in the 2nd quarter. Gagnon Securities LLC now owns 3,023,087 shares of the medical equipment provider’s stock valued at $4,172,000 after acquiring an additional 149,642 shares during the last quarter. Finally, Capital World Investors boosted its holdings in shares of Neovasc by 9.1% in the 2nd quarter. Capital World Investors now owns 6,294,667 shares of the medical equipment provider’s stock valued at $8,737,000 after acquiring an additional 522,864 shares during the last quarter. 19.55% of the stock is currently owned by institutional investors and hedge funds.

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About Neovasc

Neovasc Inc (Neovasc) is a specialty medical device company. The Company develops, manufactures and markets products for the cardiovascular marketplace. The Company’s segment is the development, manufacture and marketing of medical devices. Its products include the Tiara technology in development for the transcatheter treatment of mitral valve disease, the Neovasc Reducer for the treatment of refractory angina, and tissue products.