Sernova (TSE:SVA) Stock Price Down 4.3% – Here’s What Happened

Sernova Corp. (TSE:SVA)’s stock price dropped 4.3% during mid-day trading on Monday . The company traded as low as C$0.22 and last traded at C$0.22. Approximately 99,485 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 160,012 shares. The stock had previously closed at C$0.23.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Ventum Cap Mkts upgraded shares of Sernova to a “strong-buy” rating in a research note on Thursday, September 12th. Ventum Financial lowered their price objective on Sernova from C$3.00 to C$2.50 and set a “buy” rating for the company in a research report on Friday, September 13th. Finally, Leede Financial cut their target price on Sernova from C$3.00 to C$1.50 and set a “speculative buy” rating on the stock in a research report on Friday, September 13th.

Sernova Price Performance

The firm’s 50-day simple moving average is C$0.24 and its 200 day simple moving average is C$0.27. The company has a debt-to-equity ratio of 16.55, a quick ratio of 18.11 and a current ratio of 0.32. The company has a market capitalization of C$71.57 million, a PE ratio of -1.69 and a beta of 1.35.

About Sernova

Sernova Corp. operates as a clinical-stage regenerative medicine therapeutics company in Canada. The company focuses on the development and commercialization of regenerative medicine therapeutics, including its proprietary Cell Pouch and associated technologies consisting of therapeutic cells and local cellular immune protection.