Short Interest in NeuroMetrix, Inc. (NASDAQ:NURO) Drops By 46.0%

NeuroMetrix, Inc. (NASDAQ:NURO) saw a significant decrease in short interest in March. As of March 15th, there was short interest totalling 23,200 shares, a decrease of 46.0% from the February 29th total of 43,000 shares. Based on an average daily volume of 53,400 shares, the days-to-cover ratio is presently 0.4 days. Currently, 1.7% of the shares of the company are sold short.

NeuroMetrix Stock Up 2.9 %

NURO stock traded up $0.12 during mid-day trading on Thursday, reaching $4.28. 2,217 shares of the stock traded hands, compared to its average volume of 46,949. The business has a 50-day moving average of $3.48 and a two-hundred day moving average of $3.99. NeuroMetrix has a 52 week low of $2.70 and a 52 week high of $12.04.

NeuroMetrix (NASDAQ:NURO) last announced its quarterly earnings results on Thursday, February 22nd. The medical device company reported ($1.43) earnings per share for the quarter. The company had revenue of $1.32 million during the quarter. NeuroMetrix had a negative net margin of 110.64% and a negative return on equity of 31.31%.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on NeuroMetrix in a research report on Monday, February 19th. They issued a “sell” rating for the company.

Institutional Trading of NeuroMetrix

Several hedge funds have recently modified their holdings of the stock. Northern Trust Corp acquired a new position in NeuroMetrix in the second quarter valued at approximately $41,000. Virtu Financial LLC acquired a new stake in shares of NeuroMetrix during the fourth quarter worth $43,000. Millennium Management LLC lifted its stake in NeuroMetrix by 102.3% in the 4th quarter. Millennium Management LLC now owns 20,530 shares of the medical device company’s stock valued at $30,000 after acquiring an additional 10,384 shares in the last quarter. Cerity Partners LLC acquired a new stake in shares of NeuroMetrix in the fourth quarter valued at about $108,000. Finally, Citadel Advisors LLC raised its stake in shares of NeuroMetrix by 44.3% during the 3rd quarter. Citadel Advisors LLC now owns 34,699 shares of the medical device company’s stock worth $97,000 after purchasing an additional 10,652 shares in the last quarter. 19.40% of the stock is owned by institutional investors.

NeuroMetrix Company Profile

NeuroMetrix, Inc, a commercial stage neurotechnology company, engages in designing, building, and marketing medical devices that stimulate and analyze nerve response for diagnostic and therapeutic purposes in the United States, Europe, Japan, China, the Middle East, and Mexico. Its primary marketed products include DPNCheck, a nerve conduction test that is used to evaluate peripheral neuropathies, such as diabetic peripheral neuropathy; Quell, a wearable device for symptomatic relief and management of chronic pain; and ADVANCE system, a platform for the performance of nerve conduction studies.