NeuroMetrix (NASDAQ:NURO) Receives New Coverage from Analysts at StockNews.com

Research analysts at StockNews.com began coverage on shares of NeuroMetrix (NASDAQ:NURO) in a research note issued to investors on Tuesday. The firm set a “sell” rating on the medical device company’s stock.

NeuroMetrix Stock Performance

Shares of NURO opened at $0.73 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 17.11 and a current ratio of 18.42. NeuroMetrix has a 1 year low of $0.64 and a 1 year high of $3.57. The stock has a market capitalization of $6.31 million, a P/E ratio of -1.03 and a beta of 2.28. The company’s fifty day moving average is $0.85 and its two-hundred day moving average is $1.13.

NeuroMetrix (NASDAQ:NURO) last announced its quarterly earnings data on Thursday, July 27th. The medical device company reported ($0.19) earnings per share (EPS) for the quarter. The firm had revenue of $1.66 million for the quarter. NeuroMetrix had a negative return on equity of 24.38% and a negative net margin of 75.17%.

Hedge Funds Weigh In On NeuroMetrix

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in NeuroMetrix by 11.1% in the 3rd quarter. Vanguard Group Inc. now owns 350,029 shares of the medical device company’s stock valued at $977,000 after purchasing an additional 34,892 shares during the period. Virtu Financial LLC bought a new position in NeuroMetrix during the first quarter valued at $78,000. Renaissance Technologies LLC grew its holdings in shares of NeuroMetrix by 46.4% during the second quarter. Renaissance Technologies LLC now owns 44,113 shares of the medical device company’s stock worth $162,000 after purchasing an additional 13,985 shares in the last quarter. Northern Trust Corp bought a new stake in NeuroMetrix in the 2nd quarter worth approximately $41,000. Finally, Citadel Advisors LLC lifted 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 purchasing an additional 10,652 shares during 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.