I agree with your assessment of an overhang. I noticed thursday when the market was rallying strongly the stock was unchanged. Then two trades went through at 100 thousand shares each at $7.95. Subsequent to those trades the stock began increasing. nice to see some action on this message board.
From CynicalTrader on Investorshub board (9/7/12):...
NVDQ picked by Cabot Small Cap...
Attached is your September issue of Cabot Small-Cap Confidential.
This month's stock candidate is Novadaq Technologies (NVDQ), a maker of medical imaging devices that provide real-time images during surgery.
The field is currently dominated by computed tomography (CT) and magnetic resonance imaging (MRI), but Novadaq's non-toxic and non-radioactive technology offers significant advantages over these decades-old technologies.
The market for the technology is huge: 80 million surgical procedures are performed in the U.S. each year--230 million worldwide.
Open up your issue now and read all the details on Novadaq and all my current stock recommendations.