enVVeno Medical (NASDAQ:NVNO) Stock Price Down 1.1% – Time to Sell?

Shares of enVVeno Medical Corporation (NASDAQ:NVNO) fell 1.1% during trading on Monday. The stock traded as low as $7.75 and last traded at $8.01. Approximately 10,583 shares were traded during mid-day trading, a decline of 65% from the average session volume of 30,206 shares. The stock had previously closed at $8.10.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. LADENBURG THALM/SH SH upgraded shares of enVVeno Medical from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of enVVeno Medical in a research report on Friday, September 25th. Finally, Zacks Research raised enVVeno Medical to a “hold” rating in a research note on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, enVVeno Medical currently has a consensus rating of “Hold”.

enVVeno Medical Price Performance

The company has a market cap of $5.53 million, a P/E ratio of -0.41 and a beta of 1.29. The firm’s 50-day moving average is $10.20 and its two-hundred day moving average is $10.60.

enVVeno Medical (NASDAQ:NVNO) last released its quarterly earnings data on Thursday, July 30th. The company reported ($5.37) EPS for the quarter, missing the consensus estimate of ($4.69) by ($0.68). As a group, sell-side analysts expect that enVVeno Medical Corporation will post -16.19 EPS for the current year.

Hedge Funds Weigh In On enVVeno Medical

A hedge fund recently bought a new stake in enVVeno Medical stock. ACT Capital Management LLC acquired a new position in shares of enVVeno Medical Corporation (NASDAQ:NVNO) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 115,000 shares of the company’s stock, valued at approximately $37,000. ACT Capital Management LLC owned 17.42% of enVVeno Medical as of its most recent SEC filing. Hedge funds and other institutional investors own 34.71% of the company’s stock.

About enVVeno Medical

enVVeno Medical Corp. is a clinical-stage medical device company focused on developing bioprosthetic implants for the treatment of venous and cardiovascular diseases. The company’s primary focus is chronic venous insufficiency, a condition in which damaged valves in the veins impair the return of blood to the heart and can cause swelling, pain, skin changes and ulcers.

Its lead product candidate, the VenoValve, is a surgically implanted bioprosthetic venous valve designed to restore one-way blood flow in the deep veins of the lower extremities.