Zacks: Neurometrix Inc (NURO) Given Average Recommendation of “Buy” by Analysts

Shares of Neurometrix Inc (NASDAQ:NURO) have been assigned a consensus broker rating score of 2.00 (Buy) from the two analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation and one has given a strong buy recommendation to the company. Neurometrix’s rating score has improved by 33.3% in the last 90 days as a result of various analysts’ upgrades and downgrades.

Analysts have set a 1 year consensus price target of $5.00 for the company and are forecasting that the company will post ($0.14) EPS for the current quarter, according to Zacks. Zacks has also given Neurometrix an industry rank of 105 out of 256 based on the ratings given to its competitors.

NURO has been the topic of several recent research reports. Zacks Investment Research cut Neurometrix from a “buy” rating to a “hold” rating in a research note on Thursday, September 27th. HC Wainwright initiated coverage on Neurometrix in a research note on Wednesday, December 26th. They issued a “buy” rating on the stock. Finally, ValuEngine cut Neurometrix from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd.

A hedge fund recently raised its stake in Neurometrix stock. Renaissance Technologies LLC raised its stake in Neurometrix Inc (NASDAQ:NURO) by 55.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 213,615 shares of the medical device company’s stock after acquiring an additional 75,932 shares during the period. Renaissance Technologies LLC owned approximately 2.90% of Neurometrix worth $284,000 as of its most recent SEC filing. Institutional investors own 10.35% of the company’s stock.

NURO stock traded up $0.03 during midday trading on Thursday, hitting $1.01. The stock had a trading volume of 724 shares, compared to its average volume of 81,967. The stock has a market cap of $6.33 million, a price-to-earnings ratio of -0.09 and a beta of 0.25. Neurometrix has a 52-week low of $0.60 and a 52-week high of $2.96.

Neurometrix (NASDAQ:NURO) last issued its quarterly earnings results on Wednesday, October 17th. The medical device company reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.34. The company had revenue of $3.67 million for the quarter. Neurometrix had a negative return on equity of 0.90% and a negative net margin of 0.37%. As a group, equities research analysts predict that Neurometrix will post 0.04 earnings per share for the current year.

About Neurometrix

NeuroMetrix, Inc, a healthcare company, develops and markets products for the detection, diagnosis, and monitoring of peripheral nerve and spinal cord disorders. The company develops wearable neuro-stimulation therapeutic devices and point-of-care neuropathy diagnostic tests to address chronic health conditions, including chronic pain, sleep disorders, and diabetes.

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