Neurometrix (NASDAQ:NURO) Stock Price Up 5.6%

Neurometrix Inc (NASDAQ:NURO) shares rose 5.6% during mid-day trading on Wednesday . The company traded as high as $0.40 and last traded at $0.38, approximately 168,300 shares were traded during trading. An increase of 21% from the average daily volume of 138,810 shares. The stock had previously closed at $0.36.

Several research analysts have commented on the company. ValuEngine upgraded Neurometrix from a “hold” rating to a “buy” rating in a research note on Tuesday, July 2nd. Zacks Investment Research lowered Neurometrix from a “buy” rating to a “hold” rating in a report on Thursday, August 1st.

The business’s 50-day moving average price is $0.36 and its 200 day moving average price is $0.66.

Neurometrix (NASDAQ:NURO) last issued its quarterly earnings data on Thursday, July 18th. The medical device company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.02. The company had revenue of $2.36 million during the quarter, compared to analysts’ expectations of $3.28 million. Neurometrix had a negative net margin of 23.52% and a negative return on equity of 17.31%. On average, equities analysts forecast that Neurometrix Inc will post -0.35 EPS for the current fiscal year.

A hedge fund recently raised its stake in Neurometrix stock. Acadian Asset Management LLC grew its position in shares of Neurometrix Inc (NASDAQ:NURO) by 386.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,605 shares of the medical device company’s stock after purchasing an additional 83,102 shares during the period. Acadian Asset Management LLC owned approximately 1.07% of Neurometrix worth $43,000 at the end of the most recent quarter. 16.91% of the stock is currently owned by hedge funds and other institutional investors.

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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