enVVeno Medical (NASDAQ:NVNO) Downgraded by Wall Street Zen to "Sell"

Key Points

• enVVeno Medical has been downgraded from a "hold" rating to a "sell" rating by analysts at Wall Street Zen.
• The company's stock price is currently at $4.64, reflecting a 2.1% decline, with a market cap of $89.32 million.
• enVVeno Medical reported an EPS of ($0.33), missing expectations, and analysts forecast an average EPS of (-1.32) for the current fiscal year.

enVVeno Medical (NASDAQ:NVNO - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday.

enVVeno Medical Price Performance

Shares of NVNO stock traded up $0.06 during trading hours on Friday, hitting $4.64. The stock had a trading volume of 52,044 shares, compared to its average volume of 108,246. The firm has a market capitalization of $89.38 million, a PE ratio of -3.87 and a beta of 1.01. enVVeno Medical has a twelve month low of $2.03 and a twelve month high of $5.81. The stock's 50 day moving average is $4.42 and its 200 day moving average is $3.55.

enVVeno Medical (NASDAQ:NVNO - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.05). As a group, equities analysts predict that enVVeno Medical will post -1.32 earnings per share for the current year.

Institutional Investors Weigh In On enVVeno Medical

Several hedge funds have recently modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of enVVeno Medical during the second quarter worth $798,000. Creative Planning acquired a new stake in enVVeno Medical in the second quarter valued at $54,000. Geode Capital Management LLC lifted its holdings in enVVeno Medical by 1.1% in the second quarter. Geode Capital Management LLC now owns 199,509 shares of the company's stock valued at $796,000 after acquiring an additional 2,211 shares during the period. Westside Investment Management Inc. lifted its holdings in enVVeno Medical by 7.9% in the second quarter. Westside Investment Management Inc. now owns 279,525 shares of the company's stock valued at $1,115,000 after acquiring an additional 20,475 shares during the period. Finally, XTX Topco Ltd acquired a new stake in enVVeno Medical in the first quarter valued at $80,000. 34.71% of the stock is owned by institutional investors and hedge funds.

enVVeno Medical Company Profile

enVVeno Medical Corporation Nasdaq: NVNO is an medical device company focused on the development of innovative bioprosthetic (tissue-based) devices to improve the standard of care in the treatment of venous disease. The company's lead product, the VenoValve®️, is a first-in-class, surgical implant being developed for the treatment of severe deep venous Chronic Venous Insufficiency (CVI).