Nyxoah (NASDAQ:NYXH) Stock Price Down 4.6% on Disappointing Earnings

Shares of Nyxoah SA (NASDAQ:NYXH) dropped 4.6% on Tuesday following a weaker than expected earnings announcement. The company traded as low as $6.27 and last traded at $6.27. Approximately 242,912 shares changed hands during mid-day trading, an increase of 63% from the average daily volume of 149,328 shares. The stock had previously closed at $6.57.

The company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.01). The company had revenue of $1.58 million for the quarter, compared to analysts’ expectations of $1.33 million. Nyxoah had a negative return on equity of 74.13% and a negative net margin of 1,541.84%.

Hedge Funds Weigh In On Nyxoah

A number of large investors have recently made changes to their positions in the business. Shay Capital LLC acquired a new position in shares of Nyxoah during the second quarter worth $374,000. Bank of America Corp DE increased its position in shares of Nyxoah by 72.4% during the second quarter. Bank of America Corp DE now owns 7,866 shares of the company’s stock worth $59,000 after purchasing an additional 3,303 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Nyxoah during the second quarter worth $70,000. Franklin Resources Inc. increased its position in shares of Nyxoah by 0.9% during the second quarter. Franklin Resources Inc. now owns 294,990 shares of the company’s stock worth $2,207,000 after purchasing an additional 2,655 shares in the last quarter. Finally, Kovack Advisors Inc. increased its position in shares of Nyxoah by 148.2% during the second quarter. Kovack Advisors Inc. now owns 57,827 shares of the company’s stock worth $433,000 after purchasing an additional 34,532 shares in the last quarter.

Nyxoah Stock Performance

The business has a 50-day moving average price of $7.52 and a 200-day moving average price of $7.96. The firm has a market capitalization of $213.56 million, a price-to-earnings ratio of -2.73 and a beta of 1.61. The company has a quick ratio of 3.35, a current ratio of 3.59 and a debt-to-equity ratio of 0.22.

About Nyxoah

Nyxoah SA, a medical technology company, focuses on the development and commercialization of solutions to treat sleep disordered breathing conditions. The company’s lead solution comprises Genio system, a CE-Marked, patient-centric, and hypoglossal neurostimulation therapy to treat moderate to severe obstructive sleep apnea.