Sernova (TSE:SVA) Shares Down 5.8% – Time to Sell?

Sernova Corp. (TSE:SVA)’s stock price dropped 5.8% on Wednesday . The stock traded as low as C$0.24 and last traded at C$0.25. Approximately 170,306 shares traded hands during mid-day trading, an increase of 1% from the average daily volume of 169,294 shares. The stock had previously closed at C$0.26.

Wall Street Analyst Weigh In

SVA has been the topic of several recent research reports. Ventum Financial lowered their price objective on shares of Sernova from C$3.00 to C$2.50 and set a “buy” rating on the stock in a research note on Friday, September 13th. Ventum Cap Mkts raised shares of Sernova to a “strong-buy” rating in a report on Thursday, September 12th. Finally, Leede Financial reduced their target price on shares of Sernova from C$3.00 to C$1.50 and set a “speculative buy” rating for the company in a report on Friday, September 13th.

Sernova Stock Performance

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 business’s fifty day simple moving average is C$0.26 and its 200-day simple moving average is C$0.30. The firm has a market capitalization of C$79.70 million, a PE ratio of -1.88 and a beta of 1.35.

Sernova (TSE:SVA) last announced its quarterly earnings data on Monday, September 16th. The company reported C($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C($0.03) by C$0.01. As a group, equities research analysts expect that Sernova Corp. will post -0.08 EPS for the current year.

Insider Activity at Sernova

In related news, Director Steven Sangha sold 930,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of C$0.24, for a total value of C$223,200.00. Over the last ninety days, insiders acquired 142,600 shares of company stock valued at $33,776. 12.13% of the stock is owned by corporate insiders.

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.