Neurometrix (NASDAQ:NURO) Sees Large Volume Increase

Neurometrix Inc (NASDAQ:NURO) shares saw an uptick in trading volume on Monday . 1,883,733 shares traded hands during trading, an increase of 1,148% from the previous session’s volume of 150,941 shares.The stock last traded at $0.60 and had previously closed at $0.52.

Several research firms recently weighed in on NURO. Zacks Investment Research cut Neurometrix from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. ValuEngine raised Neurometrix from a “hold” rating to a “buy” rating in a report on Monday, April 1st. Finally, HC Wainwright reissued a “buy” rating and set a $5.00 price target on shares of Neurometrix in a report on Friday, April 26th.

The company has a market capitalization of $4.61 million, a P/E ratio of 3.70 and a beta of 0.75.

Neurometrix (NASDAQ:NURO) last posted its quarterly earnings data on Thursday, April 25th. The medical device company reported $0.15 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.30. Neurometrix had a return on equity of 11.77% and a net margin of 6.36%. The firm had revenue of $3.12 million for the quarter, compared to analyst estimates of $3.92 million. On average, equities analysts forecast that Neurometrix Inc will post -0.35 earnings per share for the current year.

An institutional investor recently raised its position in Neurometrix stock. Renaissance Technologies LLC boosted its stake in shares of Neurometrix Inc (NASDAQ:NURO) by 27.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 389,015 shares of the medical device company’s stock after acquiring an additional 83,500 shares during the period. Renaissance Technologies LLC owned 4.41% of Neurometrix worth $428,000 at the end of the most recent reporting period. 10.38% of the stock is owned by institutional investors and hedge funds.

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Neurometrix Company Profile (NASDAQ:NURO)

NeuroMetrix, Inc, a healthcare company, develops and markets products for the detection, diagnosis, and monitoring of peripheral nerve and spinal cord disorders. The company develops wearable neuro-stimulation therapeutic devices and point-of-care neuropathy diagnostic tests to address chronic health conditions, including chronic pain, sleep disorders, and diabetes.

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