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

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

STEX has been the topic of several other reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Biosig Technologies in a research report on Wednesday, July 29th. Needham & Company LLC decreased their price target on Biosig Technologies to $4.00 and set a “buy” rating for the company in a research note on Tuesday, August 18th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $4.00.

Biosig Technologies Stock Down 8.2%

NASDAQ STEX opened at $0.76 on Friday. The stock has a market capitalization of $139.06 million, a PE ratio of -0.08 and a beta of 1.98. The company has a 50 day moving average price of $0.84 and a two-hundred day moving average price of $1.28. Biosig Technologies has a 12-month low of $0.66 and a 12-month high of $7.44.

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

Biosig Technologies declared that its board has approved a share repurchase program on Tuesday, July 7th that allows the company to repurchase 10,000,000,000,000 outstanding shares. This repurchase authorization allows the company to purchase up to 5.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity

In other Biosig Technologies news, Chairman Morgan Lee Lekstrom bought 50,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was purchased at an average price of $0.99 per share, for a total transaction of $49,500.00. Following the purchase, the chairman directly owned 359,500 shares in the company, valued at $355,905. This trade represents a 16.16% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CIO Mitchell Young Williams sold 23,810 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $1.05, for a total value of $25,000.50. Following the completion of the sale, the executive directly owned 3,013,838 shares in the company, valued at $3,164,529.90. This trade represents a 0.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 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.