NeuroMetrix, Inc. (NASDAQ:NURO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
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. “
NURO has been the subject of several other research reports. HC Wainwright set a $16.00 price objective on shares of NeuroMetrix and gave the stock a “buy” rating in a research report on Thursday, June 15th. ValuEngine cut NeuroMetrix from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd.
NeuroMetrix (NASDAQ NURO) opened at 2.20 on Tuesday. NeuroMetrix has a 52 week low of $2.07 and a 52 week high of $14.32. The company’s market cap is $2.79 million. The firm has a 50-day moving average of $3.28 and a 200-day moving average of $1.33.
NeuroMetrix (NASDAQ:NURO) last announced its quarterly earnings data on Thursday, April 20th. The medical device company reported ($7.28) EPS for the quarter, missing the consensus estimate of ($3.92) by $3.36. The company had revenue of $4.31 million for the quarter, compared to analyst estimates of $4.17 million. NeuroMetrix had a negative return on equity of 175.24% and a negative net margin of 99.95%. Equities analysts forecast that NeuroMetrix will post ($10.50) earnings per share for the current year.
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A hedge fund recently raised its stake in NeuroMetrix stock. Sabby Management LLC boosted its position in NeuroMetrix, Inc. (NASDAQ:NURO) by 81.7% during the first quarter, according to its most recent filing with the 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 2.98% of NeuroMetrix worth $187,000 as of its most recent filing with the SEC. Institutional investors own 64.06% of the company’s stock.
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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