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NanoVibronix Inc. (NASDAQ:NAOV) Stock Extends Rally: Soars 133% in a Week

Pete Matthews , , , ,

NanoVibronix Inc. (NASDAQ:NAOV) soared 30%, and it is up 133% in a week after the PainShield, and UroShield Surface Acoustic Wave Ultrasonic Medical Devices producer announced the fulfillment of its first order for PainShield Plus, its latest next-gen pain management solution.

The company expects to realize revenue from this sale in Q3 2021.  Notably, PainShield Plus is available at a high gross margin relative to PainShield MD, and the pain therapy surface area it covers is almost twice that covered by PainShield MD.

CEO Brian Murphy stated the first shipment is a massive milestone for NaniVibronix’s patent awaiting PainShield. He said that the device launched late last year but has seen a significant positive response from various customers, including healthcare providers and neurological and orthopedic patients.

Murphy explained that the company is optimistic regarding other prospective market penetrations after fulfilling the first order and growing interest from prescribers and distributors. So in the coming months, NAOV is a stock to watch.

Market Reaction:

On Wednesday, NAOV stock soared 30% at $1.91 with more than 127.14 million shares, compared to its average volume of 4.64 million shares. The stock has moved within a range of $1.5800 – 2.4886 after opening the trade at $1.66. Over the past 52-week, the stock has been trading within a range of $0.5350 – 3.7500.

Pete Matthews

Pete attended the University of Colorado and still calls the centennial state home. He chases trout in the summer and snowboards in the winter. He is fascinated with the markets and has a strong interest in nanocap stocks and crypto currency.