Neurometrix (NASDAQ:NURO) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Neurometrix (NASDAQ:NURO) from a hold rating to a buy rating in a report issued on Wednesday, reports. Zacks Investment Research currently has $0.50 price objective on the medical device company’s stock.

According to Zacks, “Neurometrix is a medical device company establishing a new standard of care through the design, development and sale of proprietary products used to diagnose neuropathies. Neuropathies are diseases of the peripheral nerves and parts of the spine that frequently are caused by or associated with diabetes, low back pain and carpal tunnel syndrome, as well as other clinical disorders. “

Separately, ValuEngine upgraded shares of Neurometrix from a hold rating to a buy rating in a report on Tuesday, July 2nd.

Shares of NURO stock traded up $0.01 during trading on Wednesday, hitting $0.30. 4,850 shares of the company were exchanged, compared to its average volume of 170,880. The business’s 50-day simple moving average is $0.35 and its 200 day simple moving average is $0.57. Neurometrix has a twelve month low of $0.30 and a twelve month high of $1.38.

Neurometrix (NASDAQ:NURO) last posted its quarterly earnings results on Thursday, July 18th. The medical device company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.02. The business 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%. Sell-side analysts predict that Neurometrix will post -0.35 EPS for the current year.

An institutional investor recently raised its position in Neurometrix stock. Acadian Asset Management LLC boosted its holdings in shares of Neurometrix Inc (NASDAQ:NURO) by 386.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 104,605 shares of the medical device company’s stock after acquiring an additional 83,102 shares during the quarter. Acadian Asset Management LLC owned approximately 1.07% of Neurometrix worth $43,000 at the end of the most recent reporting period. 16.91% of the stock is currently owned by institutional investors and hedge funds.

Neurometrix Company Profile

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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