NeuroMetrix, Inc. (NURO) Trading 26.5% Higher

NeuroMetrix, Inc. (NASDAQ:NURO) traded up 26.5% during mid-day trading on Wednesday . The company traded as high as $2.35 and last traded at $2.32. 604,856 shares were traded during mid-day trading, an increase of 1,098% from the average session volume of 50,489 shares. The stock had previously closed at $1.83.

A number of equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of NeuroMetrix from a “hold” rating to a “buy” rating and set a $3.00 price target on the stock in a research note on Wednesday, July 5th. HC Wainwright set a $16.00 price target on shares of NeuroMetrix and gave the company a “buy” rating in a research note on Thursday, June 15th.

The stock’s 50 day moving average price is $2.02 and its 200-day moving average price is $2.02. The company’s market cap is $4.31 million.

NeuroMetrix (NASDAQ:NURO) last announced its quarterly earnings data on Thursday, July 20th. The medical device company reported ($2.49) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($2.83) by $0.34. NeuroMetrix had a negative return on equity of 209.56% and a negative net margin of 83.92%. The firm had revenue of $4.31 million for the quarter, compared to analyst estimates of $4.40 million. Equities analysts expect that NeuroMetrix, Inc. will post ($11.20) earnings per share for the current fiscal year.

A hedge fund recently raised its stake in NeuroMetrix stock. Sabby Management LLC increased its holdings in shares of NeuroMetrix, Inc. (NASDAQ:NURO) by 81.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 302,104 shares of the medical device company’s stock after acquiring an additional 135,836 shares during the period. Sabby Management LLC owned approximately 2.98% of NeuroMetrix worth $187,000 as of its most recent SEC filing. 6.53% of the stock is currently owned by institutional investors and hedge funds.

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About NeuroMetrix

NeuroMetrix, Inc is a healthcare company combining bioelectrical and digital medicine to address chronic health conditions, including chronic pain, sleep disorders and diabetes. The Company is engaged in the sale of medical equipment, and consumables and accessories. It has two principal product lines: Wearable neuro-stimulation therapeutic devices and Point-of-care neuropathy diagnostic tests.

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