NeuroMetrix (NASDAQ:NURO) Stock Price Passes Above 200-Day Moving Average – Here’s Why

NeuroMetrix, Inc. (NASDAQ:NURO) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.30 and traded as high as $4.69. NeuroMetrix shares last traded at $4.55, with a volume of 35,522 shares changing hands.

Analysts Set New Price Targets

Separately, Wall Street Zen initiated coverage on shares of NeuroMetrix in a research report on Thursday, May 15th. They issued a “sell” rating for the company.

NeuroMetrix Price Performance

The company has a market capitalization of $9.37 million, a price-to-earnings ratio of -0.99 and a beta of 1.82. The business’s 50 day simple moving average is $4.47 and its 200 day simple moving average is $4.30.

Institutional Investors Weigh In On NeuroMetrix

Several institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC acquired a new stake in shares of NeuroMetrix during the fourth quarter valued at $46,000. Deltec Asset Management LLC acquired a new position in shares of NeuroMetrix during the 1st quarter valued at about $81,000. Finally, GTS Securities LLC acquired a new position in NeuroMetrix during the fourth quarter worth approximately $90,000. 19.40% of the stock is currently owned by hedge funds and other institutional investors.

NeuroMetrix Company Profile

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, and China. Its 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 offers services to device and provide disposable electrodes to a customer base of hand surgeons and manufacturers for industrial health use.