Nanovibronix Shares Set to Reverse Split on Tuesday, September 1st (NASDAQ:FEED)

Nanovibronix, Inc. (NASDAQ:FEED) shares are going to reverse split on the morning of Tuesday, September 1st. The 1-12 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Monday, August 31st.

Nanovibronix Price Performance

Shares of NASDAQ:FEED traded down $0.02 during trading hours on Friday, hitting $0.34. The company’s stock had a trading volume of 465,195 shares, compared to its average volume of 5,272,438. The firm’s fifty day moving average price is $0.44 and its 200 day moving average price is $1.20. Nanovibronix has a 52 week low of $0.29 and a 52 week high of $17.40. The company has a market capitalization of $3.82 million, a price-to-earnings ratio of -0.04 and a beta of 1.38.

Nanovibronix (NASDAQ:FEED) last posted its earnings results on Monday, August 17th. The company reported ($1.98) earnings per share (EPS) for the quarter. The company had revenue of $0.24 million during the quarter. Nanovibronix had a negative net margin of 1,093.61% and a negative return on equity of 60.73%.

Analysts Set New Price Targets

FEED has been the subject of a number of research analyst reports. Wall Street Zen upgraded Nanovibronix from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 12th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nanovibronix in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

Insider Activity

In related news, insider Christian Michael Glibert sold 210,000 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $0.69, for a total value of $144,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 12.20% of the stock is currently owned by insiders.

About Nanovibronix

Nanovibronix (NASDAQ: FEED) is a medical device company focused on the development and commercialization of non?invasive therapeutic ultrasound technologies for clinical and consumer healthcare applications. The company’s product portfolio centers on wearable ultrasound devices designed to deliver low?intensity acoustic energy to soft tissue with the objective of promoting wound healing and reducing pain. Nanovibronix positions its technology as an alternative or adjunct to conventional wound?care and analgesic therapies, aiming to address chronic and acute conditions that are managed in both outpatient and home settings.

The company concentrates its commercial efforts on supplying hospitals, wound?care clinics, long?term care facilities and patients requiring home?based therapies.