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

StockNews.com initiated coverage on shares of NeuroMetrix (NASDAQ:NURO – Get Rating) in a note issued to investors on Tuesday. The firm set a “sell” rating on the medical device company’s stock.

NeuroMetrix Price Performance

Shares of NASDAQ:NURO opened at $1.09 on Tuesday. NeuroMetrix has a one year low of $0.93 and a one year high of $4.73. The company has a 50 day moving average of $1.33 and a 200-day moving average of $1.55. The stock has a market cap of $8.54 million, a price-to-earnings ratio of -1.58 and a beta of 2.29.

NeuroMetrix (NASDAQ:NURO – Get Rating) last issued its quarterly earnings data on Thursday, February 23rd. The medical device company reported ($0.09) earnings per share (EPS) for the quarter. The firm had revenue of $1.85 million for the quarter. NeuroMetrix had a negative net margin of 65.54% and a negative return on equity of 22.18%.

Hedge Funds Weigh In On NeuroMetrix

A number of institutional investors have recently added to or reduced their stakes in NURO. Vanguard Group Inc. raised its position in shares of NeuroMetrix by 11.1% in the third 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 shares of NeuroMetrix in the first quarter valued at about $78,000. Renaissance Technologies LLC raised its position in shares of NeuroMetrix by 46.4% in the second quarter. Renaissance Technologies LLC now owns 44,113 shares of the medical device company’s stock valued at $162,000 after purchasing an additional 13,985 shares during the period. Northern Trust Corp bought a new position in shares of NeuroMetrix in the second quarter valued at about $41,000. Finally, Citadel Advisors LLC raised its position in shares of 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 period. 7.34% of the stock is currently owned by institutional investors and hedge funds.

About NeuroMetrix

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NeuroMetrix, Inc engages in the development and manufacture of diagnostic and therapeutic neurostimulation-based medical devices. Its products include DPNCheck, Quell, and ADVANCE system. It also focuses on the sale of medical equipment and consumables. The company was founded by Shai N. Gozani in June 1996 and is headquartered in Woburn, MA.