Short Interest in NeuroMetrix, Inc. (NASDAQ:NURO) Drops By 13.7%

NeuroMetrix, Inc. (NASDAQ:NURO – Get Rating) was the target of a significant drop in short interest in February. As of February 28th, there was short interest totalling 40,900 shares, a drop of 13.7% from the February 13th total of 47,400 shares. Based on an average trading volume of 54,300 shares, the days-to-cover ratio is currently 0.8 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on NeuroMetrix in a report on Sunday. They issued a “sell” rating for the company.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Millennium Management LLC raised its stake in shares of NeuroMetrix by 102.3% in the fourth 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 during the last quarter. Northern Trust Corp purchased a new position in shares of NeuroMetrix in the second quarter worth about $41,000. Renaissance Technologies LLC raised its stake in shares of NeuroMetrix by 30.7% in the fourth quarter. Renaissance Technologies LLC now owns 36,854 shares of the medical device company’s stock worth $55,000 after purchasing an additional 8,654 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of NeuroMetrix in the first quarter worth about $78,000. Finally, Citadel Advisors LLC raised its stake in shares of NeuroMetrix by 44.3% in the third 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 during the last quarter. 7.34% of the stock is currently owned by hedge funds and other institutional investors.

NeuroMetrix Price Performance

Shares of NASDAQ NURO opened at $1.51 on Friday. The business has a 50-day simple moving average of $1.76 and a two-hundred day simple moving average of $2.05. NeuroMetrix has a fifty-two week low of $1.33 and a fifty-two week high of $5.89.

About NeuroMetrix

(Get Rating)

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