Biosig Technologies (NASDAQ:STEX) Upgraded to “Hold” 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 morning,Wall Street Zen reports.

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

Biosig Technologies Price Performance

Shares of STEX stock opened at $0.66 on Friday. The company has a market cap of $77.01 million, a P/E ratio of -0.07 and a beta of 2.01. Biosig Technologies has a one year low of $0.65 and a one year high of $7.44. The firm has a 50-day moving average of $0.79 and a 200-day moving average of $1.10.

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

Biosig Technologies announced that its Board of Directors has initiated a stock buyback plan on Tuesday, July 7th that permits the company to repurchase 10,000,000,000,000 outstanding shares. This repurchase authorization permits the company to purchase up to 5.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at Biosig Technologies

In other news, CIO Mitchell Young Williams sold 72,689 shares of the company’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $0.72, for a total transaction of $52,336.08. Following the transaction, the executive owned 2,885,814 shares of the company’s stock, valued at $2,077,786.08. This represents a 2.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 52.73% of the stock is 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.