NeuroMetrix, Inc. (NURO) Announces Earnings Results
NeuroMetrix, Inc. (NASDAQ:NURO) issued its earnings results on Thursday. The medical device company reported ($2.49) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($2.83) by $0.34, Morningstar.com reports. NeuroMetrix had a negative return on equity of 175.24% and a negative net margin of 99.95%. The business had revenue of $4.31 million during the quarter, compared to analyst estimates of $4.40 million.
Shares of NeuroMetrix (NASDAQ:NURO) traded down 5.94% during trading on Friday, reaching $1.90. The company’s stock had a trading volume of 39,554 shares. The firm’s 50-day moving average is $2.83 and its 200-day moving average is $1.49. The stock’s market capitalization is $2.41 million. NeuroMetrix has a 12-month low of $1.81 and a 12-month high of $14.32.
NURO has been the subject of a number of recent analyst reports. Zacks Investment Research lowered NeuroMetrix from a “buy” rating to a “hold” rating in a research report on Tuesday. ValuEngine lowered NeuroMetrix from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd. Finally, HC Wainwright set a $16.00 target price on NeuroMetrix and gave the stock a “buy” rating in a research report on Thursday, June 15th.
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An institutional investor recently raised its position in NeuroMetrix stock. Sabby Management LLC raised its stake in NeuroMetrix, Inc. (NASDAQ:NURO) by 81.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 2.98% of NeuroMetrix worth $187,000 at the end of the most recent reporting period. 64.06% of the stock is currently owned by hedge funds and other institutional investors.
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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