NanoVibronix Inc. (NAOV) stock was up 14% to $1.55 in that post-market session last night. The stock price for (NAOV) rose 24.77% over the week and 66.28% over the past month. Its stock value is 77.99% year-to-date and -53.10% over the past year.
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The Company NanoVibronix Inc., headquartered in Elmsford, New York, develops medical devices with research and development centers in Nesher, Israel, focused on developing low-intensity SAW technology for medical devices.
What was the latest news about the Stock?
On January 19, 2021, in a letter to shareholders, CEO Brian Murphy of NanoVibronix, Inc. (NASDAQ: NAOV) assessed last year and a vision for 2021.
In an upbeat message, the letter said that NanoVibronix plans on commercializing our differentiated and effective therapies that we believe will help treat patients in need, fill a market void, and increase shareholder value significantly. In a challenging 2020, the Company managed to maintain and strengthen our capital positions, strengthen regulatory status, and expand our portfolio. The firm’s product portfolio, governmental level, manufacturing capacity, financial backing, and regulatory readiness allow the business to enter 2021 as a stronger company. As macroeconomic conditions improve in 2021, we will deliver growth.
While discussing the Year 2020, it reminded me that NanoVibronix’s entry into 2020 was marked by several positive developments, including the initiation of our new contract manufacturer providing greater manufacturing capacity for the finished product, launching a newly designed portfolio, signing two new licensing agreements, and much more. A global pandemic temporarily dampened the promising start to the start of the year 2020, and we delayed too much of our planned activities. During this time, the business has improved its processes and further refined the organization to better prepare for the future… near and far.
Looking ahead letter quoted focuses on driving profitable growth by expanding and increasing our distribution and licensing channels, nurturing relationships with new and existing accounts, and engaging consumers through various creative mediums. The progress we made during 2020 gives us confidence that 2021 could be a year of notable financial improvement, it added.
The Company is negotiating Sector-specific private label agreements. It is the aim of this strategy to develop a long-term profitable, predictable revenue. Covid interrupted company momentum, but we intend to move forward with these discussions as quickly as possible. Having completed the capital raises during the year 2020, the Company has been able to retain our NASDAQ listing and provide sufficient capital in the near term to sustain our operations.
Finally, In the letter, the Company notes that its commercialization efforts and management practices will improve shareholder value. The future is bright with suitable technologies that are more economically efficient, more effective clinically, and more aesthetically appealing.
A recent report from the Wall Street Journal stated that NanoVibronix Inc. (NASDAQ: NAOV) acquired an estimated Buy rating from the one brokerage firm that compares the stock performance with its rivals. A single equity research analyst did not recommend a sell strategy, no one suggested a holding approach, and the only one gave a buy recommendation. Last year, several banks and credit unions discussed the Stock for one year. Their average price goal was $10.50.