NeuroMetrix, Inc. (NURO) Trading 26.5% Higher

Shares of NeuroMetrix, Inc. (NASDAQ:NURO) traded up 26.5% on Wednesday . The company traded as high as $2.35 and last traded at $2.32. 604,856 shares changed hands during trading, an increase of 1,098% from the average session volume of 50,489 shares. The stock had previously closed at $1.83.

A number of analysts recently weighed in on the stock. HC Wainwright set a $16.00 price target on shares of NeuroMetrix and gave the stock a “buy” rating in a research note on Thursday, June 15th. Zacks Investment Research upgraded shares of NeuroMetrix from a “hold” rating to a “buy” rating and set a $3.00 price target for the company in a research note on Wednesday, July 5th.

NeuroMetrix (NASDAQ:NURO) last released its quarterly earnings data on Thursday, July 20th. The medical device company reported ($2.49) EPS for the quarter, topping analysts’ consensus estimates of ($2.83) by $0.34. The firm had revenue of $4.31 million during the quarter, compared to the consensus estimate of $4.40 million. NeuroMetrix had a negative net margin of 83.92% and a negative return on equity of 209.56%.

An institutional investor recently raised its position in NeuroMetrix stock. Sabby Management LLC grew its position in shares of NeuroMetrix, Inc. (NASDAQ:NURO) by 81.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 302,104 shares of the medical device company’s stock after acquiring an additional 135,836 shares during the quarter. Sabby Management LLC owned about 2.98% of NeuroMetrix worth $187,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 6.53% of the company’s stock.

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NeuroMetrix Company Profile

NeuroMetrix, Inc is a healthcare company combining bioelectrical and digital medicine to address chronic health conditions, including chronic pain, sleep disorders and diabetes. The Company is engaged in the sale of medical equipment, and consumables and accessories. It has two principal product lines: Wearable neuro-stimulation therapeutic devices and Point-of-care neuropathy diagnostic tests.

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