Why Nanovibronix Inc. (NAOV) Surged On Thursday?

We recently published a list of 10 Micro-, Small-Cap Firms Dominate Thursday’s Gains. In this article, we are going to take a look at where Nanovibronix Inc. (NASDAQ:NAOV) stands against other micro-, small-cap firms that dominate Thursday’s gains.

The stock market edged lower on Thursday, erasing gains from the previous trading day that was buoyed by the Federal Reserve’s decision to keep rates unchanged.

The tech-heavy Nasdaq decreased by 0.33 percent, the S&P 500 declined by 0.22 percent, and the Dow Jones dipped by 0.03 percent.

On Thursday, investors immediately booked profits following the lack of fresh catalysts to further boost buying appetite.

However, 10 companies under the micro- to small-cap sectors noticeably defied market pessimism, having surged by double to triple digits. In this article, we have identified Thursday’s 10 best performers and detailed the reasons behind their gains.

We classify micro-cap companies as those between $50 million and $300 million in market capitalization, while small-cap firms are those with $300 million and $2 billion in market capitalization.

A close-up of a high-tech medical device, representing the company’s cutting-edge products.

Nanovibronix Inc. (NASDAQ:NAOV)

Nanovibronix rose for a second day on Thursday, jumping 36.5 percent to close at $4.45 each as investor confidence was fueled by the efficacy of its UroShield device in preventing catheter-associated urinary tract infections (UTI).

According to NAOV, the study found that UroShield reduced UTI by 86 percent, catheter blockages by 70 percent, and bladder irrigations by 82.8 percent.

Clinicians have also reported lower intervention needs and nursing time.

NAOV is a medical device company headquartered in Tyler, Texas, with research and development in Nesher, Israel, focused on developing medical devices utilizing its patented low-intensity surface acoustic wave (SAW) technology.

The proprietary technology allows for the creation of low-frequency ultrasound waves that can be utilized for a variety of medical applications, including for disruption of biofilms and bacterial colonization, as well as for pain relief. The devices can be administered at home without the continuous assistance of medical professionals.

Overall, NAOV ranks 7th on our list of micro-, small-cap firms that dominate Thursday’s gains. While we acknowledge the potential of NAOV as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as NAOV but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.