StockNews.com Initiates Coverage on NeuroMetrix (NASDAQ:NURO)

Posted by on Jul 18th, 2023

Equities researchers at StockNews.com assumed coverage on shares of NeuroMetrix (NASDAQ:NURO – Get Free Report) in a report issued on Tuesday. The brokerage set a “sell” rating on the medical device company’s stock.

NeuroMetrix Price Performance

NURO stock opened at $0.94 on Tuesday. The firm has a market cap of $7.35 million, a PE ratio of -1.36 and a beta of 2.24. NeuroMetrix has a 12 month low of $0.89 and a 12 month high of $4.73. The firm has a 50 day simple moving average of $1.00 and a 200 day simple moving average of $1.39.

NeuroMetrix (NASDAQ:NURO – Get Free Report) last announced its quarterly earnings results on Wednesday, May 3rd. The medical device company reported ($0.20) EPS for the quarter. The business had revenue of $1.73 million for the quarter. NeuroMetrix had a negative return on equity of 22.18% and a negative net margin of 65.54%.

Institutional Trading of NeuroMetrix

Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of NeuroMetrix by 11.1% during the 3rd quarter. Vanguard Group Inc. now owns 350,029 shares of the medical device company’s stock valued at $977,000 after acquiring an additional 34,892 shares in the last quarter. Renaissance Technologies LLC boosted its position in NeuroMetrix by 46.4% in the second quarter. Renaissance Technologies LLC now owns 44,113 shares of the medical device company’s stock valued at $162,000 after buying an additional 13,985 shares in the last quarter. Citadel Advisors LLC boosted its position in NeuroMetrix by 44.3% in the third quarter. Citadel Advisors LLC now owns 34,699 shares of the medical device company’s stock valued at $97,000 after buying an additional 10,652 shares in the last quarter. Millennium Management LLC boosted its position in NeuroMetrix by 102.3% in the fourth quarter. Millennium Management LLC now owns 20,530 shares of the medical device company’s stock valued at $30,000 after buying an additional 10,384 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in NeuroMetrix in the first quarter valued at about $78,000. 6.75% of the stock is currently owned by institutional investors and hedge funds.

NeuroMetrix Company Profile

(Get Free Report)

NeuroMetrix, Inc engages in the development and manufacture of diagnostic and therapeutic neurostimulation-based medical devices. Its products include DPNCheck, Quell, and ADVANCE system. It also focuses on the sale of medical equipment and consumables. The company was founded by Shai N. Gozani in June 1996 and is headquartered in Woburn, MA.

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