Biosig Technologies (NASDAQ:STEX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Biosig Technologies (NASDAQ:STEX) from a sell rating to a hold rating in a report released on Saturday,Wall Street Zen reports.

A number of other research analysts also recently issued reports on STEX. Weiss Ratings reiterated a “sell (d-)” rating on shares of Biosig Technologies in a report on Wednesday, July 29th. Needham & Company LLC cut their target price on Biosig Technologies to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, August 18th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Biosig Technologies has an average rating of “Hold” and a consensus price target of $4.00.

Biosig Technologies Trading Down 4.6%

Shares of NASDAQ STEX opened at $0.63 on Friday. The company has a fifty day moving average price of $0.78 and a 200 day moving average price of $1.08. The firm has a market cap of $73.49 million, a PE ratio of -0.07 and a beta of 2.01. Biosig Technologies has a 1-year low of $0.61 and a 1-year high of $7.44.

Biosig Technologies (NASDAQ:STEX) last released its quarterly earnings results on Friday, August 14th. The company reported ($0.08) earnings per share (EPS) for the quarter. The business had revenue of $0.15 million during the quarter.

Biosig Technologies declared that its board has authorized a share buyback plan on Tuesday, July 7th that authorizes the company to repurchase 10,000,000,000,000 shares. This repurchase authorization authorizes the company to purchase up to 5.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, CIO Mitchell Young Williams sold 72,689 shares of the business’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $0.72, for a total transaction of $52,336.08. Following the transaction, the executive directly owned 2,885,814 shares in the company, valued at approximately $2,077,786.08. The trade was a 2.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 52.73% of the stock is currently owned by corporate insiders.

About Biosig Technologies

Biosig Technologies (NASDAQ:STEX) is a medical technology company focused on developing advanced signal acquisition and processing solutions for cardiac electrophysiology. The company’s work centers on improving the clarity and interpretability of intracardiac signals captured during electrophysiology procedures, with the goal of helping clinicians identify arrhythmogenic substrates and make more informed procedural decisions.

Its primary offering is a signal-processing platform that combines proprietary hardware and software to amplify, filter and display intracardiac electrical activity with reduced noise and distortion.