Biosig Technologies (NASDAQ:STEX) Raised to Sell at Wall Street Zen

Biosig Technologies (NASDAQ:STEX) was upgraded by research analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued on Saturday.

STEX has been the topic of several other research reports. Needham & Company LLC cut their price target on shares of Biosig Technologies to $4.00 and set a “buy” rating on the stock in a report on Tuesday, August 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Biosig Technologies in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $4.00.

Biosig Technologies Price Performance

Biosig Technologies stock opened at $0.83 on Friday. The stock’s 50-day moving average is $0.84 and its 200-day moving average is $1.30. The company has a market cap of $97.03 million, a price-to-earnings ratio of -0.09 and a beta of 1.98. Biosig Technologies has a 12 month low of $0.66 and a 12 month high of $7.44.

Biosig Technologies (NASDAQ:STEX) last released its quarterly earnings data on Friday, August 14th. The company reported ($0.08) earnings per share for the quarter. The firm had revenue of $0.15 million during the quarter.

Biosig Technologies declared that its board has approved a share buyback plan on Tuesday, July 7th that authorizes the company to buyback 10,000,000,000,000 outstanding shares. This buyback authorization authorizes the company to purchase up to 5.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Biosig Technologies

In related news, Chairman Morgan Lee Lekstrom bought 50,000 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were acquired at an average price of $0.99 per share, for a total transaction of $49,500.00. Following the purchase, the chairman owned 359,500 shares in the company, valued at $355,905. This trade represents a 16.16% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CIO Mitchell Young Williams sold 23,810 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $1.05, for a total transaction of $25,000.50. Following the transaction, the executive directly owned 3,013,838 shares in the company, valued at $3,164,529.90. The trade was a 0.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 52.73% of the stock is owned by company insiders.

Biosig Technologies Company Profile

Biosig Technologies (NASDAQ:STEX) is a medical technology company focused on developing advanced signal acquisition and processing solutions for cardiac electrophysiology. The company’s work centers on improving the clarity and interpretability of intracardiac signals captured during electrophysiology procedures, with the goal of helping clinicians identify arrhythmogenic substrates and make more informed procedural decisions.

Its primary offering is a signal-processing platform that combines proprietary hardware and software to amplify, filter and display intracardiac electrical activity with reduced noise and distortion.