BioSig Technologies (NASDAQ:BSGM) Lowered to Sell at Zacks Investment Research

BioSig Technologies (NASDAQ:BSGMGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a research report issued to clients and investors on Thursday, reports.

According to Zacks, “BioSig Technologies is a medical technology company commercializing a proprietary biomedical signal processing platform designed to improve signal fidelity and uncover the full range of ECG and intra-cardiac signals. The Company’s first product, PURE EP ™ System, is a computerized system intended for acquiring, digitizing, amplifying, filtering, measuring and calculating, displaying, recording and storing of electrocardiographic and intracardiac signals for patients undergoing electrophysiology (EP) procedures in an EP laboratory. “

BSGM traded down $0.02 on Thursday, hitting $0.92. The company had a trading volume of 116,068 shares, compared to its average volume of 221,563. The firm has a market cap of $36.44 million, a P/E ratio of -0.77 and a beta of 1.68. BioSig Technologies has a 1 year low of $0.73 and a 1 year high of $4.58. The company’s fifty day moving average price is $1.05 and its 200 day moving average price is $1.69.

BioSig Technologies (NASDAQ:BSGMGet Rating) last issued its quarterly earnings data on Thursday, March 31st. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.02). BioSig Technologies had a negative net margin of 9,535.04% and a negative return on equity of 232.98%. On average, equities research analysts predict that BioSig Technologies will post -0.63 EPS for the current year.

Several hedge funds have recently bought and sold shares of the company. Advisor Group Holdings Inc. boosted its holdings in shares of BioSig Technologies by 31.2% in the third quarter. Advisor Group Holdings Inc. now owns 15,350 shares of the company’s stock valued at $46,000 after acquiring an additional 3,650 shares during the period. Morgan Stanley lifted its holdings in shares of BioSig Technologies by 37.4% during the second quarter. Morgan Stanley now owns 20,575 shares of the company’s stock worth $80,000 after purchasing an additional 5,601 shares during the period. BlackRock Inc. lifted its holdings in shares of BioSig Technologies by 1.4% during the fourth quarter. BlackRock Inc. now owns 527,263 shares of the company’s stock worth $1,176,000 after purchasing an additional 7,287 shares during the period. GSA Capital Partners LLP lifted its holdings in shares of BioSig Technologies by 7.0% during the third quarter. GSA Capital Partners LLP now owns 125,608 shares of the company’s stock worth $374,000 after purchasing an additional 8,218 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of BioSig Technologies during the fourth quarter worth $28,000. 12.27% of the stock is owned by institutional investors and hedge funds.

BioSig Technologies Company Profile (Get Rating)

BioSig Technologies, Inc, together with its subsidiaries, operates as medical device company. The company's proprietary product includes precise uninterrupted real-time evaluation of electrograms electrophysiology (PURE EP) system, a signal processing platform that combines hardware and software to address known challenges associated to signal acquisition that enables electrophysiologists to see signals and analyze in real-time.

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