BioSig Technologies (NASDAQ:BSGM) Rating Lowered to Hold at Zacks Investment Research

BioSig Technologies (NASDAQ:BSGM – Get Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “BioSig Technologies is a medical technology company commercializing a proprietary biomedical signal processing platform designed to improve signal fidelity and uncover the full range of ECG and intra-cardiac signals. The Company’s first product, PURE EP ™ System, is a computerized system intended for acquiring, digitizing, amplifying, filtering, measuring and calculating, displaying, recording and storing of electrocardiographic and intracardiac signals for patients undergoing electrophysiology (EP) procedures in an EP laboratory. “

Shares of BioSig Technologies stock traded down $0.01 during trading on Tuesday, hitting $1.14. 157,049 shares of the company’s stock were exchanged, compared to its average volume of 203,253. The business has a 50-day simple moving average of $1.07 and a 200-day simple moving average of $1.78. BioSig Technologies has a 52-week low of $0.73 and a 52-week high of $4.58. The stock has a market capitalization of $45.13 million, a price-to-earnings ratio of -0.96 and a beta of 1.70.

BioSig Technologies (NASDAQ:BSGM – Get Rating) last issued its earnings results on Thursday, March 31st. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.02). BioSig Technologies had a negative return on equity of 232.98% and a negative net margin of 9,535.04%. Sell-side analysts forecast that BioSig Technologies will post -0.58 EPS for the current year.

Several institutional investors have recently modified their holdings of BSGM. Virtu Financial LLC purchased a new position in shares of BioSig Technologies during the fourth quarter worth $28,000. Advisor Group Holdings Inc. raised its holdings in shares of BioSig Technologies by 31.2% during the third quarter. Advisor Group Holdings Inc. now owns 15,350 shares of the company’s stock worth $46,000 after purchasing an additional 3,650 shares during the last quarter. Morgan Stanley raised its holdings in shares of BioSig Technologies by 37.4% during the second quarter. Morgan Stanley now owns 20,575 shares of the company’s stock worth $80,000 after purchasing an additional 5,601 shares during the last quarter. Eidelman Virant Capital purchased a new position in BioSig Technologies in the fourth quarter valued at $98,000. Finally, Stifel Financial Corp purchased a new position in BioSig Technologies in the fourth quarter valued at $109,000. 12.27% of the stock is owned by hedge funds and other institutional investors.

BioSig Technologies Company Profile (Get Rating)

BioSig Technologies, Inc, together with its subsidiaries, operates as medical device company. The company's proprietary product includes precise uninterrupted real-time evaluation of electrograms electrophysiology (PURE EP) system, a signal processing platform that combines hardware and software to address known challenges associated to signal acquisition that enables electrophysiologists to see signals and analyze in real-time.

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