NanoVibronix Inc. (NASDAQ:NAOV) Stock Sees Profit Booking At Higher Level: Good To Buy Now?

NanoVibronix Inc. (NASDAQ:NAOV) dropped 27% on profit-taking and is still up 175% in the past week. The company which produced Painshield and UroShield Surface Acoustic Wave Portable Ultrasonic Therapeutics Devices has fulfilled its first order for PainShield Plus, its ultramodern management device. NanoVibronix will recognize revenue for this sale in Q3 2021.

Notably, the surface area coverage for pain therapy of PainsShield Plus is almost twice that of original PainShield MD, and it is offered at a high gross margin. CEO Brian Murphy said the first shipment is a massive milestone for the company for the patent-pending PainShield Plus. He said that the device, which launched late last year, has seen encouraging responses from neurological and orthopedic patients.

The company also announced the publication study findings of patients that utilized UroShield in real-life situations. The findings were published in The Journal of Medical & Surgical Urology. Murphy said that the findings demonstrate the applicability and effectiveness of the UroShield device in minimizing UTI incidence and pain catheters cause. So NAOV is worth watching in the coming weeks.

Market Reaction:

On Monday, NAOV stock slumped 27.20% at $1.90 with more than 123.10 million shares, compared to its average volume of 2.29 million shares. The stock has moved within a range of $1.8500 – 3.7500 after opening the trade at $3.34. Over the past 52-week, the stock has been trading within a range of $0.5350 – 3.7500.