Today’s Stock On Watch: Is Selling 52-Week Stock Like Novadaq Technologies Inc. a Winning Strategy?

Today's Stock On Watch: Is Selling 52 Week Stock Like Novadaq Technologies Inc. a Winning Strategy?

The stock of Novadaq Technologies Inc. (NASDAQ:NVDQ) hit a new 52-week low and has $7.79 target or 4.00% below today’s $8.11 share price. The 7 months bearish chart indicates high risk for the $464.69M company. The 1-year low was reported on Nov, 23 by Barchart.com. If the $7.79 price target is reached, the company will be worth $18.59M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 119,839 shares traded hands. Novadaq Technologies Inc. (NASDAQ:NVDQ) has declined 36.94% since April 21, 2016 and is downtrending. It has underperformed by 42.27% the S&P500.

Analysts await Novadaq Technologies Inc. (NASDAQ:NVDQ) to report earnings on February, 15. They expect $-0.15 EPS, up 11.76% or $0.02 from last year’s $-0.17 per share. After $-0.19 actual EPS reported by Novadaq Technologies Inc. for the previous quarter, Wall Street now forecasts -21.05% EPS growth.

Novadaq Technologies Inc. (NASDAQ:NVDQ) Ratings Coverage

Out of 4 analysts covering Novadaq Technologies Inc (NASDAQ:NVDQ), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Novadaq Technologies Inc has been the topic of 6 analyst reports since October 7, 2015 according to StockzIntelligence Inc. JMP Securities initiated the stock with “Mkt Outperform” rating in Wednesday, January 6 report. The rating was upgraded by First Analysis to “Overweight” on Thursday, October 29. The firm has “Outperform” rating by Wedbush given on Wednesday, October 7.

According to Zacks Investment Research, “Novadaq Technologies Inc. develops, manufactures and markets real-time fluorescence imaging products for use in the operating room and other clinical settings. The company’s key markets include plastic reconstructive, gastrointestinal, cardiac and general surgery. It provides SPY imaging systems which enables surgeons to the visualize blood flow in vessels, co-joined vessels and micro-vessels. Novadaq Technologies Inc. is headquartered in Mississauga, Canada.”

NVDQ Company Profile

Novadaq Technologies Inc., incorporated on April 14, 2000, is a medical device company. The Firm primarily develops, makes and markets real-time fluorescence imaging products that are designed for use by surgeons in the operating room and other clinical settings where open and minimally invasive surgery or interventional procedures are performed. The Company’s segment is medical devices. The Company’s SPY fluorescence imaging technology platform (SPY Fluorescence Imaging) provides clinically relevant anatomic and physiologic images of blood flow in vessels and micro-vessels during a range of surgical and outpatient procedures performed in the operating room or clinic. The SPY Fluorescence Imaging platform can be used to develop imaging devices specifically designed to meet the needs of different surgeons and other healthcare providers and the specialty procedures they perform.

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