Neurometrix Inc (NURO) Upgraded to Hold at Zacks Investment Research
Neurometrix Inc (NASDAQ:NURO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday.
According to Zacks, “Neurometrix is a medical device company establishing a new standard of care through the design, development and sale of proprietary products used to diagnose neuropathies. Neuropathies are diseases of the peripheral nerves and parts of the spine that frequently are caused by or associated with diabetes, low back pain and carpal tunnel syndrome, as well as other clinical disorders. “
Shares of Neurometrix (NASDAQ:NURO) traded down 3.0148% during mid-day trading on Thursday, reaching $3.9279. The company had a trading volume of 44,707 shares. The firm’s market capitalization is $39.86 million. The stock has a 50 day moving average of $0.98 and a 200-day moving average of $0.87. Neurometrix has a one year low of $0.38 and a one year high of $4.50.
Neurometrix (NASDAQ:NURO) last issued its quarterly earnings results on Thursday, April 20th. The medical device company reported ($7.28) EPS for the quarter, missing the Zacks’ consensus estimate of ($3.92) by $3.36. The firm had revenue of $4.31 million for the quarter, compared to the consensus estimate of $4.17 million. Neurometrix had a negative net margin of 124.01% and a negative return on equity of 181.47%. Equities analysts predict that Neurometrix will post ($11.04) EPS for the current year.
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An institutional investor recently raised its position in Neurometrix stock. Sabby Management LLC increased its stake in shares of Neurometrix Inc (NASDAQ:NURO) by 81.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 302,104 shares of the medical device company’s stock after buying an additional 135,836 shares during the period. Sabby Management LLC owned approximately 2.98% of Neurometrix worth $187,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 6.14% of the company’s stock.
Neurometrix Company Profile
NeuroMetrix, Inc is a healthcare company combining bioelectrical and digital medicine to address chronic health conditions, including chronic pain, sleep disorders and diabetes. The Company is engaged in the sale of medical equipment, and consumables and accessories. It has two principal product lines: Wearable neuro-stimulation therapeutic devices and Point-of-care neuropathy diagnostic tests.
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