StockNews.com Initiates Coverage on NeuroMetrix (NASDAQ:NURO)

StockNews.com initiated coverage on shares of NeuroMetrix (NASDAQ:NURO) in a research report report published on Thursday. The brokerage issued a sell rating on the medical device company’s stock.

NeuroMetrix Trading Up 2.2 %

Shares of NURO stock opened at $3.65 on Thursday. The company has a fifty day moving average price of $3.75 and a two-hundred day moving average price of $3.82. NeuroMetrix has a one year low of $2.70 and a one year high of $11.82.

NeuroMetrix (NASDAQ:NURO) last issued its earnings results on Thursday, February 22nd. The medical device company reported ($1.43) earnings per share (EPS) for the quarter. The firm 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%.

Hedge Funds Weigh In On NeuroMetrix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NURO. Northern Trust Corp bought a new position in shares of NeuroMetrix in the second quarter valued at about $41,000. Virtu Financial LLC acquired a new position in NeuroMetrix in the 4th quarter valued at about $43,000. Millennium Management LLC raised its holdings 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 during the period. Cerity Partners LLC acquired a new stake in NeuroMetrix during the fourth quarter worth approximately $108,000. Finally, Citadel Advisors LLC boosted its holdings in shares of NeuroMetrix by 44.3% during the third quarter. Citadel Advisors LLC now owns 34,699 shares of the medical device company’s stock worth $97,000 after acquiring an additional 10,652 shares during the period. 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.