NeuroMetrix (NASDAQ:NURO) Shares Scheduled to Reverse Split on Wednesday, November 22nd

NeuroMetrix, Inc. (NASDAQ:NURO)’s stock is set to reverse split on Wednesday, November 22nd. The 1-8 reverse split was announced on Monday, November 20th. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, November 21st.

NeuroMetrix Stock Down 3.5 %

NASDAQ:NURO traded down $0.02 during midday trading on Monday, reaching $0.49. The stock had a trading volume of 156,014 shares, compared to its average volume of 63,067. The firm has a fifty day simple moving average of $0.61 and a two-hundred day simple moving average of $0.82. NeuroMetrix has a 12-month low of $0.45 and a 12-month high of $2.18. The stock has a market cap of $4.18 million, a P/E ratio of -0.70 and a beta of 2.31.

NeuroMetrix (NASDAQ:NURO) last posted its quarterly earnings data on Thursday, October 26th. The medical device company reported ($0.21) earnings per share for the quarter. NeuroMetrix had a negative net margin of 86.64% and a negative return on equity of 25.71%. The firm had revenue of $1.20 million during the quarter.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on NeuroMetrix in a report on Wednesday, November 15th. They issued a “sell” rating for the company.

Institutional Trading of NeuroMetrix

Institutional investors have recently modified their holdings of the company. Millennium Management LLC raised its stake in shares of NeuroMetrix by 102.3% during the 4th quarter. Millennium Management LLC now owns 20,530 shares of the medical device company’s stock worth $30,000 after purchasing an additional 10,384 shares in the last quarter. Northern Trust Corp bought a new position in NeuroMetrix in the 2nd quarter worth approximately $41,000. Renaissance Technologies LLC increased its position in NeuroMetrix by 30.7% in the 4th quarter. Renaissance Technologies LLC now owns 36,854 shares of the medical device company’s stock worth $55,000 after buying an additional 8,654 shares during the period. Virtu Financial LLC acquired a new stake in shares of NeuroMetrix during the 1st quarter worth approximately $78,000. Finally, Citadel Advisors LLC grew its holdings in shares of NeuroMetrix by 44.3% during the 3rd quarter. Citadel Advisors LLC now owns 34,699 shares of the medical device company’s stock worth $97,000 after purchasing an additional 10,652 shares in the last quarter. Institutional investors and hedge funds own 5.07% of the company’s stock.

About NeuroMetrix

NeuroMetrix, Inc, a commercial stage neurotechnology company, engages in designing, building, and marketing medical devices that stimulate and analyze nerve response for diagnostic and therapeutic purposes in the United States, Europe, Japan, China, the Middle East, and Mexico. Its primary marketed products include DPNCheck, a nerve conduction test that is used to evaluate peripheral neuropathies, such as diabetic peripheral neuropathy; Quell, a wearable device for symptomatic relief and management of chronic pain; and ADVANCE system, a platform for the performance of nerve conduction studies.