Nyxoah (NASDAQ:NYXH) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Nyxoah (NASDAQ:NYXH) from a hold rating to a sell rating in a research report sent to investors on Sunday.

Other research analysts have also issued reports about the stock. Weiss Ratings lowered shares of Nyxoah from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, May 22nd. Robert W. Baird set a $2.31 price objective on shares of Nyxoah in a research report on Thursday, August 6th. Oppenheimer set a $4.00 price objective on shares of Nyxoah in a research note on Thursday, August 6th. Stifel Nicolaus dropped their target price on shares of Nyxoah from $5.00 to $3.00 and set a “hold” rating on the stock in a research report on Wednesday, June 17th. Finally, Piper Sandler restated an “overweight” rating and issued a $6.00 target price (down from $7.00) on shares of Nyxoah in a research note on Thursday, August 6th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $5.26.

Nyxoah Trading Up 0.6%

Shares of Nyxoah stock opened at $1.59 on Friday. The company has a market capitalization of $61.63 million, a P/E ratio of -0.63 and a beta of 1.62. The stock has a fifty day simple moving average of $1.60 and a 200 day simple moving average of $2.89. Nyxoah has a 12-month low of $1.26 and a 12-month high of $7.22. The company has a current ratio of 2.38, a quick ratio of 2.31 and a debt-to-equity ratio of 0.44.

Nyxoah (NASDAQ:NYXH) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.67) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.20). Nyxoah had a negative net margin of 443.16% and a negative return on equity of 178.90%. The company had revenue of $8.76 million for the quarter, compared to the consensus estimate of $8.64 million. On average, sell-side analysts anticipate that Nyxoah will post -1.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nyxoah

A number of hedge funds have recently made changes to their positions in NYXH. Raymond James Financial Inc. purchased a new position in shares of Nyxoah in the 2nd quarter worth about $70,000. Bank of America Corp DE raised its position in Nyxoah by 72.4% in the second quarter. Bank of America Corp DE now owns 7,866 shares of the company’s stock worth $59,000 after acquiring an additional 3,303 shares during the period. Shay Capital LLC bought a new stake in Nyxoah in the second quarter worth about $374,000. Citadel Advisors LLC purchased a new position in Nyxoah in the third quarter valued at about $98,000. Finally, Deutsche Bank AG boosted its stake in Nyxoah by 40.0% in the fourth quarter. Deutsche Bank AG now owns 35,000 shares of the company’s stock valued at $161,000 after acquiring an additional 10,000 shares during the last quarter.

Nyxoah Company Profile

Nyxoah SA, headquartered in Mont-Saint-Guibert, Belgium, is a medical technology company focused on neuromodulation therapies for sleep?disordered breathing. Established in 2018, the company’s primary offering is the Genio® system, a minimally invasive bilateral hypoglossal nerve stimulator designed to treat moderate to severe obstructive sleep apnea (OSA). By electrically stimulating the genioglossus muscle, the device helps maintain airway patency during sleep, reducing apnea events and improving overall sleep quality.

The Genio system comprises a small, implantable stimulator positioned submentally and an external activation unit worn by the patient.